Independent Auditor Services

The Vendor is required to provide perform the annual audit for the board.
- Provide independent certified public accounting firms to conduct an audit of the Municipal Pension Fund Financial Statements for the fiscal year ended June 30, 2026.
- To stand in a fiduciary capacity to the Plan’s active employees, retirees, survivors and beneficiaries
(“Participants”) regarding any investments by and disbursements from the Fund.
- In managing the Fund, to act in accordance with the Prudent Investor Rule.
- This requires Board members to exercise a degree of judgment, skill and care which a prudent investor would use in investing the retirement funds of others, taking into account the purposes, terms, current distribution requirements, long-term needs of all Participants, suitable risk/return characteristics, sufficient diversification across investment strategies and other circumstances of the Plan. (This is a stricter standard than the Prudent Person Rule, which requires application of the standard of care a prudent person would use in managing his or her own affairs.)
- To follow the Exclusive Benefit Rule. This requires that the investments and earnings of the Fund are used for the exclusive benefit of the Participants.
- To select and retain competent external investment managers to execute such strategies on a discretionary basis.
- To adopt, and modify as needed, investment strategies which are designed to achieve the Board’s obligations and objectives
- To select and retain expert consultants for actuarial analysis and for non-discretionary investment advice to the Plan generally, and in specific investment areas such as publicly traded equity and fixed income, private equity and private debt funds, hedge funds, private real estate funds, private real assets funds and other opportunistic funds.