Published February 18, 2025
About This Audit
The compliance audit of the Collier Township Police Pension Plan, conducted under the Municipal Pension Plan Funding Standard and Recovery Act, assessed whether the plan adhered to relevant state laws, regulations, contracts, and policies. The audit, targeting the period January 1, 2020, to December 31, 2023, confirmed compliance in most aspects but identified a notable issue: the untimely deposit of the 2024 state aid allocation, received on September 25 but deposited on November 26, missing the 30-day deadline. This delay impacted the availability of funds for operational expenses and investments. Recommendations include paying the interest lost during the delay period and enhancing internal controls to prevent future occurrences. The township’s response indicated agreement with the findings, with compliance to be re-evaluated in the subsequent audit.