College Township Non-Uniformed Pension Plan – Centre County – Reduced Period Engagement – Period Ended December 31, 2024

The compliance audit of the College Township Non-Uniformed Pension Plan, mandated by Act 205 of 1984, aimed to evaluate corrective actions on past findings and ensure the plan’s administration adhered to relevant laws and policies. It covered January 1, 2023, to December 31, 2024. Key areas scrutinized included state aid determination, employer contributions, and benefit distributions, with no employee contributions required. Corrective action was verified by reviewing documentation and recalculating pensions. The actuarial report for January 1, 2023, was confirmed submitted on time. The audit concluded that the pension plan was largely compliant with legal standards, and prior reimbursement of overpaid state aid had been completed. The audit was not conducted using Government Auditing Standards, and financial statements by an independent accounting firm were not evaluated. The township collaborated effectively, ensuring compliance and transparency, which was appreciated by the auditors. This is an automated summary. Please rely on the contents included in the released audit report.