(A) Creation. There are hereby created two funds for the town as follows:
(1) Fund 2256 Opioid Settlement Unrestricted (“Unrestricted Fund”); and
(2) Fund 2257 Opioid Settlement Restricted (“Restricted Fund”).
(B) Source and use of funds. Monies received under the opioid settlement shall be deposited in the funds and may be used as follows:
(1) Those monies received from the opioid settlement that are unrestricted by the terms of the opioid settlement shall be deposited in the unrestricted fund, and may be used or any lawful purpose; and
(2) Those monies received from the opioid settlement that are restricted by the terms of the opioid settlement shall be deposited in the restricted fund and may be used for only those purposes permitted under the opioid settlement.
(C) Appropriation of funds required. Cash balances in the funds must be appropriated before expenditure.
(D) No reversions of monies to the General Fund. Unexpended cash-balances in the unrestricted fund and/or restricted fund will remain in the respective fund and not revert to the General Fund at year end.
(Ord. 2023-2, passed 1-3-2023)