Ambridge Borough Non-Uniformed Pension Plan – Beaver County – Audit Period Ended December 31, 2023

The compliance audit of the Ambridge Borough Non-Uniformed Pension Plan, conducted under the Municipal Pension Plan Funding Standard and Recovery Act, assessed whether the plan adhered to relevant legal and regulatory frameworks. The audit’s aims included evaluating the municipality’s corrective measures for prior report findings and ensuring compliance with state laws, regulations, contracts, procedures, ordinances, and policies. Covering transactions from January 1, 2019, to December 31, 2023, the audit examined state aid deposits, employer and employee contributions, and actuarial valuation report submissions. The audit found two main issues: untimely deposit of state aid and inconsistencies in awarding a professional services contract with Act 205 provisions. While the pension plan generally complied with legal standards, these findings need addressing to optimize plan administration. This audit helps ensure effective governance and management of municipal pension plans.