Beaver Borough Municipal Employees’ Pension Plan – Beaver County – Audit Period Ended December 31, 2023

A compliance audit of the Beaver Borough Municipal Employees’ Pension Plan was conducted in accordance with the Municipal Pension Plan Funding Standard and Recovery Act. The audit assessed compliance with applicable state laws, regulations, contracts, and local policies for the period from January 1, 2023, to December 31, 2023. The audit evaluated the proper determination and deposit of state aid, employer, and employee contributions, and confirmed the absence of benefit calculations during this period. The audit also checked if the January 1, 2023, actuarial valuation report was prepared and submitted as required. Borough officials are responsible for ensuring effective internal controls, and the audit concluded that the pension plan was administered in compliance for the specified period. The results, discussions with borough officials, and their responses were included in the report. Auditor General Timothy L. DeFoor expressed gratitude for the cooperation received during the audit, which confirmed adherence to legal obligations.