Selectman Appointed to State Economic Board

House Minority Leader Bradley H. Jones, Jr. (R-North Reading) has appointed North Reading resident and Selectman Michael A. Prisco to serve on the Board of Trustees for the state’s new Economic Empowerment Trust Fund.

Originally created in 2009 as the Financial Literacy Trust Fund, the fund was renamed in the Fiscal Year 2016 state budget as the Economic Empowerment Trust Fund to reflect its expanded role, which will now focus not only on funding financial literacy initiatives, but also on programs that promote college affordability and wage equality. The fund is administered by the state treasurer in consultation with the Board of Trustees.

A member of the North Reading Board of Selectmen since 2010, Prisco currently serves as its Vice-Chairman. He previously served as Representative Jones’ appointee to the board overseeing the Financial Literacy Trust Fund.

“It is my belief that given Mr. Prisco’s experience and past involvement with the Financial Literacy Trust Fund, his service will be a valuable asset to the Economic Empowerment Trust Fund,” said Representative Jones in announcing the appointment.

The purpose of the Economic Empowerment Trust Fund is to “encourage and facilitate economic empowerment throughout the commonwealth.” Money from the fund can be used to establish financial literacy programs; create college savings accounts in cooperation with the Massachusetts Educational Financing Authority; establish college and career readiness programs with a focus on science, technology, engineering and math; and support and promote wage equality.

Prisco is one of 6 non-voting members to serve on the 20-member Board of Trustees. Voting members include the state treasurer; attorney general; undersecretary of consumer affairs and business regulation; commissioner of elementary and secondary education; secretary of education; secretary of housing and economic development; and 8 members who are appointed by the state treasurer. These appointees have experience in a wide range of areas, including education; financial services; biotechnology; health care; computers/mathematics; life, physical or social sciences; fundraising; and architecture/engineering.