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Yates County establishes Opioid Settlement Reserve Fund to segregate remediation dollars
Summary
The Legislature established a capital reserve fund to hold opioid settlement funds for future opioid remediation programs, directing the Director of Finance on accounting and investment and requiring legislative approval for expenditures from the reserve.
The Yates County Legislature on June 8 adopted a resolution creating an Opioid Settlement Reserve Fund pursuant to Section 6-C of New York's General Municipal Law. The fund will hold excess opioid settlement dollars at fiscal year-end for future expenditures related to opioid remediation and prevention.
The resolution directs the Director of Finance to deposit, secure and, where appropriate, invest those moneys consistent with municipal law and the county's investment policy. Any expenditure from the reserve will require legislative approval and must comply with General Municipal Law procedures. Legislator Bill Holgate noted that the move should clarify how opioid settlement money is tracked and spent going forward.
Next steps: the Director of Finance will establish accounting and reporting lines for the reserve and coordinate with the Director of Community Services to propose future eligible uses when funding requests arise.
