City of Sharon Police Pension Plan – Mercer County – Audit Period January 1, 2021 to December 31, 2023

A compliance audit was conducted on the City of Sharon Police Pension Plan for the period from January 1, 2021, to December 31, 2023, with some evaluation of compliance beyond that period. The audit, mandated by Pennsylvania’s Act 205, aimed to assess the plan’s adherence to applicable state laws, regulations, and policies. The methodology involved verifying the proper handling of state aid, employer and employee contributions, retirement benefits, and actuarial report submissions. The audit concluded that the pension plan was managed in compliance with all significant legal and regulatory requirements. However, the independent financial statements provided by the City’s contracted accounting firm were not audited within this compliance review. The report acknowledges the cooperation of City officials during the audit. The supplementary information presented offers additional analysis, though it was not subject to auditing. Overall, the audit affirmed the effective administration of the pension plan according to relevant standards.