The Acton-Boxborough Regional School Committee voted on Jan. 16 to accept provisions of Massachusetts General Laws that allow the district’s trust funds to be invested under the so-called prudent investment rule, broadening permissible investments for scholarship accounts and trusts.

Sherry (district finance staff) presented the portfolio review and explained the districts’ OPEB (Other Post-Employment Benefits) portfolio stood at approximately $9.8 million as of Nov. 30, 2024, and that investment returns had offset prior withdrawals taken to cover health-insurance costs. She said scholarship accounts historically had limited equity exposure and lower long-term returns and that adopting the prudent investment rule under M.G.L. chapter 203C would permit a more diversified portfolio designed to better support scholarship payouts over time.

Committee members asked about cadence and oversight. Sherry said the district’s advisors provide quarterly reports and that the proposed change followed both an annual advisory review and a 2024 change in state law that broadened investment options (cited in the meeting as M.G.L. ch. 44 §§54B–D). Committee Member Ben moved the motion to accept the provisions; Committee Member Tory seconded. The motion passed unanimously on voice vote.

The committee’s action authorizes the district to invest trust funds in accordance with the prudent investment rule, subject to the oversight of the OPEB trust and existing advisors. Committee members said the regular quarterly reporting and the use of established investment advisors would provide ongoing oversight.