Waynesboro Borough Non-Uniformed Pension Plan – Franklin County – Reduced Period Engagement – Period Ended December 31, 2024

A compliance audit of the Waynesboro Borough Non-Uniformed Pension Plan was conducted to verify adherence to the Municipal Pension Plan Funding Standard and Recovery Act, focusing on corrective actions taken and compliance with state laws and regulations. Key objectives included determining state aid accuracy, appropriate contribution levels, and the correct calculation and distribution of retirement benefits. The audit revealed partial compliance with previous findings, notably incorrect data on Certification Form AG 385, leading to state aid overpayments. Despite reimbursing the overpayment for 2018 and 2020, issues persisted in 2021 and 2022 due to incorrect roster data affecting state aid calculations. Furthermore, excessive municipal contributions were made, exceeding the plan’s funding requirements. Although overall compliance was noted, these findings highlight areas requiring improvement. The audit underscores the need for Waynesboro Borough to enhance internal controls to fully adhere to legal and regulatory standards, ensuring accurate pension plan administration. This is an automated summary. Please rely on the contents included in the released audit report.