New Acton treasurer-collector outlines debt-tracking, banking changes and tax-title strategy

Patrick McIntyre, who began as Acton’s treasurer‑collector in July, briefed the Select Board on operational changes intended to improve transparency, investment returns and cash management.

McIntyre said the town is implementing UniBank’s BaseFund online debt-tracking software to centralize debt reporting and to give read-only access to auditors and other officials. He also reported a planned Oct. 1 conversion of eligible trust funds from the state’s older legal‑list investments to the “prudent investor” standard, which the town expects will broaden allowable investments and improve returns.

To reduce lost interest on funds that sit in payables accounts, McIntyre said he is consolidating accounts and creating a “concentration account” with a zero‑balance sweep structure so daily cash will remain pooled and earn interest until checks clear. He cited a recent example in which a $144,000 check cut to a health trust in June did not clear until Aug. 27; under the new structure, the funds would have been earning interest while they waited to clear.

McIntyre described short-term liquidity steps such as moving some funds into six‑month certificates of deposit to lock in current rates ahead of expected Federal Reserve action, while keeping other funds liquid for operating needs. He also said he will change bank relationships where necessary to ensure the town can wire funds and access accounts.

On tax title work, McIntyre said the town has retained KP Law (specifically attorney Thomas McEnany) for representation and currently has 15 active Land Court cases. He said one decision in a single‑family property case could be imminent; depending on the outcome, the town would have 30 days to decide whether to retain the property or sell it through the updated tax-title sale process, which now requires independent appraisal and a sale process rather than an auction.

Select Board members thanked McIntyre for consolidating accounts and for prioritizing tax‑title work and bank reliability. McIntyre said the office will begin recruiting to replace an assistant treasurer who will move to accounting and that he expects the staff change to be largely seamless.

McIntyre invited questions and offered to share more detailed reports with the board and staff on debt positions, investments and account structure as the office implements the changes.