Delaware Public Employees Retirement System (DPERS) County & Municipal Police and Firefighters June 30, 2019

[1] An unmodified opinion is sometimes referred to as a “clean” opinion. It is one in which the auditor expresses an opinion that the financial statements present fairly, in all material respects, an entity’s financial position, results of operations and cash flows in conformity with generally accepted accounting principles. The complete report can be found on our website: auditor.delaware.gov For more information, contact: State Auditor Kathleen McGuiness– kathleen.mcguiness@delaware.gov – (302) 739-5055 What Was Performed? An audit of the Schedule of Employer Allocation and Schedule of Pension Amounts by Employer for the Delaware Public Employees’ Retirement System County & Municipal Police and Firefighters’ Pension Plan as of June 30, 2019 was performed. The County & Municipal Police and Firefighters’ Pension Plan (the Plan) is a cost sharing multiple-employer defined-benefit pension plan established in the Delaware Code. The Plan is administered by the Delaware Public Employees' Retirement System (DPERS). The General Assembly is responsible for setting benefits and contributions and amending plan provisions; administrative rules and regulations are adopted and maintained by the Board of Pension Trustees (the Board). The management of the Plan is the responsibility of the Board. The Board is comprised of five members appointed by the Governor and confirmed by the State Senate, plus two ex officio members. The daily operation is the responsibility of the Office of Pensions. The report is beneficial to users of the County and Municipal Police and Firefighter’s financial statements across the State including members of the General Assembly and the Board of Pension Trustees. The information contained in the reports used in conjunction with the County and Municipal Police and Firefighter’s financial statements help provide a complete picture of their overall financial health. Why This Audit? This audit was conducted by BDO USA, LLP under the direction of the Office of Auditor of Accounts in accordance with 29 Del. C. §2906.