Emporium Borough Non-Uniformed Pension Plan – Cameron County – Audit Period Ended December 31, 2023

A compliance audit of the Emporium Borough Non-Uniformed Pension Plan in Cameron County, Pennsylvania, was conducted under the authority of Act 205. The audit aimed to verify if previous corrective actions were implemented and if the pension plan’s administration adhered to state laws and local policies. The audit, conducted for the period January 1, 2022, to December 31, 2023, assessed state aid deposits, employer contributions, retirement benefits, and the accuracy of required actuarial reports. Findings indicated partial compliance with prior recommendations, particularly in failing to fully calculate and pay the required interest on the Minimum Municipal Obligation (MMO). An additional finding highlighted the lack of full state aid deposits into the pension plan. Borough officials are responsible for maintaining compliance, and improvements have been recommended. The audit emphasized the importance of addressing these deficiencies to ensure the plan adequately supports its members. The report’s findings were discussed with borough officials, with recommendations given for timely implementation.