Mount Penn Borough Non-Uniformed Defined Contribution Pension Plan – Berks County – Audit Period January 1, 2019 to December 31, 2023

A compliance audit was conducted for the Mount Penn Borough Non-Uniformed Defined Contribution Pension Plan, covering the period from January 1, 2019, to December 31, 2023. The audit followed the requirements of the Municipal Pension Plan Funding Standard and Recovery Act to ensure administration compliance with state laws, regulations, contracts, and local ordinances. The audit revealed three significant issues: incorrect data on Certification Form AG 385, leading to an underpayment of state aid; failure to properly fund member accounts; and inadequate record-keeping systems. Specific underpayments of state aid totaling $17,300 for the years 2022 to 2024 were identified due to inaccuracies. Additionally, the audit found that municipal officials failed to fund member accounts correctly across multiple years. Borough officials are urged to improve internal controls and ensure compliance in future audits. Recommendations were made, and officials agreed with the findings, with compliance to be reassessed in the next audit cycle.