Published May 30, 2025
About This Audit
A compliance audit of the McConnellsburg Borough Police Pension Plan was conducted as per the Municipal Pension Plan Funding Standard and Recovery Act requirements. The audit aimed to assess the plan’s compliance with applicable state laws, regulations, and policies. The audit covered the period from January 1 to December 31, 2024, examining areas such as state aid deposits, employer contributions, and actuarial valuations. It was concluded that the pension plan complied with the pertinent requirements for the evaluated period. However, the supplementary information highlighted a decline in the plan’s funded ratio, which decreased from 62.7% in 2019 to 49.6% in 2023, placing the borough in Level II moderate distress status. This indicates financial challenges that need monitoring to ensure future stability. It was urged that borough officials closely observe the funding of the plan to improve its financial health.