(A) Creation of Fund. The town hereby creates and establishes a special fund known as the “Opioid Settlement Unrestricted Fund” (Fund 2256) into which all monies in the form of unrestricted opioid settlements shall be deposited.
(B) Purpose of Fund. The primary purpose of the Fund is to accurately track the receipts of the unrestricted portion of the opioid settlement funds and the disbursements of the Fund.
(C) Responsibility of Fund. The Town Fiscal Officer shall be responsible for the deposits and disbursements of the Fund and shall keep records as to the disbursements, receipts, and current balance in such Fund at all times.
(D) Deposit of Funds. Upon receipt of unrestricted opioid settlement funds, the Town Fiscal Officer shall immediately deposit all receipts into the Opioid Settlement Unrestricted Fund.
(E) Disbursement of Funds. The Town Fiscal Officer is directed to only disburse funds from the Opioid Settlement Unrestricted Fund created hereunder upon a receipt of a claim approved by the Town Council.
(F) Limitation on the Use of Funds. Any funds placed in the Opioid Settlement Unrestricted Fund may not be withdrawn except for the purposes for which the Fund was created.
(Ord. 58-2022, passed 1-23-2023)