An Audit Report on Performance Measures at the Pension Review Board
August 2008
Report Number 08-044
Overall Conclusion
The Pension Review Board (Agency) reported reliable results for one of four (25 percent) performance measures for fiscal year 2007 and the first two quarters of fiscal year 2008. A performance measure is considered reliable if it is certified or certified with qualification.
Specifically:
- One key performance measure-Percent of Texas Public Retirement Systems That Are Actuarially or Financially Sound-was certified with qualification because the Agency does not have documented policies and procedures to ensure adequate controls exist over the collection, calculation, and reporting of that measure.
- Two key performance measures-Number of Reviews Completed and Number of Technical Assistance Reports Provided by Staff-were inaccurate. The Number of Reviews Completed was inaccurate because auditors' recalculations resulted in a difference greater than 5 percent from the Agency's reported results in the Automated Budget and Evaluation System of Texas (ABEST). The Number of Technical Assistance Reports Provided by Staff was inaccurate because the Agency deviated from the measure definition and/or methodology. These issues resulted in actual performance differing by more than 5 percent from the performance the Agency reported in ABEST for fiscal year 2007. The Agency has no documented policies and procedures or reviews for either measure.
- Factors prevented certification of one key performance measure-Percent of Plan Administrators Satisfied with Pension Review Board (PRB) Educational Services. This performance measure could not be certified because the Agency does not retain adequate source documentation or have documented policies and procedures for this performance measure.
Auditors communicated other, less significant issues separately in writing to the Agency.
Contact the SAO about this report.
Download the Acrobat version of this report. (.pdf)
If you prefer an HTML version, follow this link to an Adobe site which converts PDF files to HTML.