Published March 6, 2025
About This Audit
A compliance audit was conducted on the Emporium Borough Police Pension Plan in Cameron County, Pennsylvania, for the year 2023. The audit aimed to ascertain adherence to state laws, regulations, and policies, as mandated by the Municipal Pension Plan Funding Standard and Recovery Act. The audit focused on verifying the proper calculation and timely deposit of state aid and employer contributions, confirming employee contribution requirements, and ensuring accurate actuarial valuation reports. The audit concluded that the pension plan adhered to necessary compliance standards without significant discrepancies. Administered through the Pennsylvania Municipal Retirement System, the plan is adequately funded, exceeding actuarial liabilities with a funded ratio over 500% as of January 2023. Borough officials are credited for maintaining appropriate controls and ensuring compliance. Supplementary information was included in the report but was not audited in detail. The audit findings reflect a robust financial position and adherence to statutory requirements.