Towanda Borough Non-Uniformed Union Pension Plan – Bradford County – Reduced Period Engagement – Period Ended December 31, 2025

An audit was conducted on the Towanda Borough Non-Uniformed Union Pension Plan to assess compliance with state laws, regulations, and procedures guiding municipal pension plans. The audit focused on verifying state aid deposits, employer contributions, and ensuring no employee contributions or benefit calculations were needed for 2025. The New York State Teamsters Conference Pension and Retirement Fund administers the plan. The audit found general compliance, but identified an overpayment of $21,596 in state aid due to incorrect data on Certification Form AG 385, resulting from a misunderstanding of employee eligibility criteria caused by staff turnover. The excess aid must be returned, and future state aid allocations might be withheld until compliance is achieved. Officials agreed with this finding and acknowledged the need for better control procedures in certifying pension data. This is an automated summary. Please rely on the contents included in the released audit report.