Economy Borough Police Pension Plan – Beaver County – Reduced Period Engagement – Period Ended December 31, 2025

A compliance audit of the Economy Borough Police Pension Plan was conducted under Act 205 of 1984 to verify adherence to relevant laws and policies. The audit covered state aid, employer and employee contributions, benefit calculations, and actuarial valuations for the 2025 calendar year. The findings revealed compliance in most areas, except for awarding a professional services contract. In 2023, the borough changed its custodial and investment service providers without following procurement procedures required by Act 205, such as advertising the contract, reviewing proposals, and preventing conflict of interest.  Despite advice from a solicitor, the borough failed to conduct a request for proposal, leading to ambiguity about compliance with Act 205 and local policies. This is an automated summary. Please rely on the contents included in the released audit report.