Published September 4, 2025
About This Audit
In August 2025, a compliance audit was conducted on the Greencastle Borough Police Pension Plan. The audit evaluated whether the pension plan was being managed in line with state laws, regulations, and local policies and was authorized under Act 205, which mandates auditing municipalities that receive state aid. The audit through December 31, 2024, and verified the proper handling of state aid deposits, employer contributions, waived employee contributions, and retirement benefits. Additionally, it ensured the January 1, 2023, actuarial valuation report complied with Act 205 requirements. The audit found the pension plan compliant in all significant respects. Furthermore, historical data on the plan’s funding status showed a robust funded ratio over recent years. The Greencastle Borough is responsible for maintaining internal controls to ensure ongoing compliance. This is an automated summary. Please rely on the contents included in the released audit report.