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Pension Costs Charged to Federal Programs in the State of Ohio

Issued on  | Posted on  | Report number: A-05-95-00014

Report Materials

EXECUTIVE SUMMARY:

We have completed a limited review of pension costs charged to Federal programs in Ohio for the period July 1, 1993 through September 30, 1994. The purpose of the review was to determine whether pension costs charged to grants and contracts were in compliance with Federal regulations, generally accepted accounting principles (GAAP), and actuarial standards.

We determined that excessive charges to Federal programs have resulted from delayed transfers of pension contributions to the Public Employees Retirement System (PERS). The financial impact was determined to be approximately $380,000 annually on Federal programs administered by the State of Ohio.

Report Type
Audit
HHS Agencies
Office of the Secretary
Issue Areas
-
Target Groups
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Financial Groups
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Notice

This report may be subject to section 5274 of the National Defense Authorization Act Fiscal Year 2023, 117 Pub. L. 263.