Financial Reports and Audits
In accordance with the Pennsylvania First Class Township Code, an audit of all township funds and accounting procedures is performed each year to establish the validity and reliability of information; also to provide an assessment of a system's internal controls and various accounting and operational practices. The primary goal of the audit is to express the township's financial position and provide an opinion on the township organization and the financial system based on work done on a test basis.
Auditing is a vital part of accounting and an important tool required by law to ensure transparency and an objective analysis for the general public. In addition, the township complies with prevailing federal, state, and local statutes and regulations and conforms to generally accepted accounting principles (GAAP) as promulgated by the Governmental Accounting Standards Board (GASB), the American Institute of Certified Public Accountants (AICPA), and the Government Finance Officers Association (GFOA).
Comprehensive Annual Financial Report (CAFR)
Municipal Annual Audit and Financial Reports:
Pension Reform Act Compliance
Chapter 7-A of Act 44 of 2009 requires that all parties to a service contract with a municipal pension fund submit an annual disclosure to their Pennsylvania public sector clients. The disclosure form provides certain information in regard to any financial relationships that may exist between the entities and the elected and appointed officials of the municipality to determine if a conflict of interest might be present.
Auditor General Compliance Audit Reports
The Pennsylvania Department of the Auditor General is the chief fiscal watchdog of the commonwealth. It is responsible for using audits to ensure that all state money is spent legally and properly.