Permits the Chenango Forks central school district to create an insurance reserve fund

This bill allows the Chenango Forks Central School District to create a special savings account specifically for paying insurance claims. It permits the district to use money from this fund to cover losses, lawsuits, or judgments related to risks they are required to insure, such as property damage or liability. The legislation also grants this same ability to a long list of other existing school districts across the state that already have similar funds. By enabling these districts to set aside money for insurance costs, the bill aims to provide a dedicated financial resource for handling covered claims without relying on general operating budgets.