Published February 3, 2025
About This Audit
A compliance audit of the Upper Providence Township Police Pension Plan was conducted under the Municipal Pension Plan Funding Standard and Recovery Act (Act 205) to assess whether the plan complied with state laws, regulations, contracts, and policies. The audit focused on specific elements like the calculation and deposit of state aid, employer, and employee contributions, retirement benefits disbursements, and the preparation of actuarial valuation reports. Results indicated compliance in all significant aspects during the audit period. However, concerns were raised about the declining funded ratio, which fell from 82.1% in 2019 to 69.8% in 2023. Officials are encouraged to address this to maintain the plan’s financial stability.