Published April 7, 2025
About This Audit
In April 2025, a compliance audit was conducted on the Franklin Borough Police Pension Plan in Cambria County, Pennsylvania. This audit was necessitated by Act 205, which mandates audits of municipal pension plans that receive state aid. The audit aimed to verify corrective actions on prior findings and assess compliance with state laws and regulations. The audit covered January 1, 2022, to December 31, 2023, focusing on state aid deposits, employer contributions, employee contributions, benefit calculations, and actuarial valuations. The report found compliance in most areas but noted a repeated issue: failure to adopt mandatory professional services contract provisions from Act 205. Borough officials have yet to implement these provisions, prompting the auditors to emphasize the urgency of corrective action. Despite this, the audit generally found that the pension plan was managed in accordance with relevant laws and regulations.