Published August 28, 2026
About This Audit
The compliance audit of the Exeter Township Police Pension Plan, conducted under the Municipal Pension Plan Funding Standard and Recovery Act, assessed the plan’s administration from January 1, 2025, to December 31, 2025. The audit aimed to verify compliance with state laws, regulations, contracts, procedures, and local policies. Key aspects reviewed included state aid deposits, employer contributions, investment compliance, and the absence of required employee contributions or benefit calculations. The audit concluded that the plan was generally compliant, except for a finding related to the retention of unused funds. Exeter Township no longer employed full-time officers since its police force disbanded, and retained $91,183 in pension plan assets without transferring them to the regional police department’s pension fund. Exeter Township must address this issue and return any unused state aid within the specified timeframe to comply with state requirements. The officials were cooperative during the audit process. This is an automated summary. Please rely on the contents included in the released audit report.