Published May 30, 2025
About This Audit
A compliance audit for Middletown Township Police Pension Plan was conducted under the authority of the Municipal Pension Plan Funding Standard and Recovery Act. The audit aimed to ascertain if previous audit findings were addressed and if the plan adhered to state laws, regulations, and local ordinances. Covering the period from January 1, 2023, to December 31, 2024, the audit included verification of state aid deposits, employer, and employee contributions, retirement benefits calculations, and the preparation and submission of actuarial reports. The township is responsible for maintaining effective internal controls, and the audit concluded that the pension plan was managed in compliance with relevant laws and regulations. Middletown Township has complied with a prior recommendation, reimbursing for previous state aid overpayments. The report, discussed with township officials, also notes the role of independent financial statement audits by a certified public accounting firm.