Published March 28, 2025
About This Audit
The compliance audit of the Shenandoah Borough Police Pension Plan, conducted for January 1, 2019, to December 31, 2022, assessed adherence to relevant state laws and regulations. The audit, pursuant to Act 205, scrutinized state aid deposits, employer and employee contributions, retirement benefits calculations, and actuarial valuations to ensure compliance. It revealed partial compliance with a prior recommendation regarding the timely payment of the Minimum Municipal Obligation (MMO) and identified an incorrect pension benefit calculation. Despite stepwise corrections, the borough neglected to calculate and pay interest on late MMO payments from 2015-2017 and continued granting excess cost-of-living adjustments to retirees. Nonetheless, the police pension plan complied with most applicable regulations. Shenandoah Borough is advised to implement timely resolutions to these findings to ensure complete compliance in the future.