Shenango Township Non-Uniformed Pension Plan – Lawrence County – Audit Period Ended December 31, 2023

The Shenango Township Non-Uniformed Pension Plan underwent a compliance audit to assess adherence to the Municipal Pension Plan Funding Standard and Recovery Act. The audit aimed to verify corrective actions taken on prior findings and ensure administration compliance with state laws and regulations between January 1, 2022, and December 31, 2023. The audit found compliance in most areas but noted deficiencies in monitoring custodial account transactions and fully funding member accounts. Despite corrective actions in some areas, the same issues from previous reports persisted, leading to ongoing concerns about the municipality’s commitment to implementing recommendations. The report highlighted a partial compliance regarding proper funding of accounts and noncompliance in monitoring custodial transactions, encouraging the township to enhance financial oversight measures. The township’s response acknowledged the findings, suggesting awareness but indicating room for improvement in pension plan management and oversight.