(A) An Opioid Unrestricted Special Revenue Non-Reverting Fund is hereby established for the deposit of funds received by the town from the state pursuant to the litigation settlement agreement by the state with pharmaceutical companies. The funds deposited in Opioid Unrestricted Special Revenue Non-Reverting Fund shall be used in the same manner as monies in the General Fund.
(B) The Town Clerk-Treasurer shall account for, maintain records of deposits and expenditures, and comply with all rules, regulations, and requirements of the State Board of Accounts for Fund Management, including reporting of same, all consistent with the rules, regulations, and requirements of the State Board of Accounts, as same are amended from time to time.
(C) At the end of each budget/calendar year, monies remaining in the Opioid Unrestricted Special Revenue Non-Reverting Fund shall remain in the Fund, and no funds therein shall revert to the General Fund, in conformance with applicable state law for such funds.
(Ord. 342, passed 1-24-2023)