Perkasie Borough Police Pension Plan – Bucks County – Audit Period January 1, 2019 to December 31, 2022

A compliance audit of the Perkasie Borough Police Pension Plan for the period January 1, 2019 to December 31, 2022, was conducted to ensure proper administration according to state laws, regulations, contracts, administrative procedures, and local ordinances. The audit aimed to assess corrective actions on a prior finding and overall compliance of the pension plan’s administration. Key audit procedures included verifying state aid funds, examining employer and employee contributions, evaluating retirement benefit calculations, and reviewing actuarial reports for compliance with Act 205. The audit uncovered repeated noncompliance with a prior recommendation due to incorrect data on Certification Form AG 385, leading to an overpayment of state aid. The audit highlighted the need for improved internal controls to ensure accurate reporting. Overall, except for the noted issue, the Pension Plan was compliant with the necessary requirements. This is an automated summary. Please rely on the contents included in the released audit report.