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Kelly, I'm sorry but either you or teh Texas constitution are misinformed. The PUF fund is for A&M, PV A&M, and UT system.
There is another significantly lesser fund (TEF) for Tech, UH, etc...
http://www.uhsa.uh.edu/gov/policies/puf.html
This is from UC-Berkley's Chancellor, a UT grad: "PUF was a whipping boy of sorts during each of the three legislative sessions that I was in Austin. I actually came to see the PUF as a political handicap for UT. It was merely a substitute for state funds, allowing the state to invest less general revenue in UT and A&M; at the same time, it gets listed as an endowment that caused people everywhere, our donors among them, to think that we were, next to Harvard, the most well-endowed university in America."
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I worked raising money for UT at one point via calling alumni and harassing them for donations. As such, while we were being "trained" on how to perform this task, we got a huge rundown on the PUF fund and how it works. Apparently, the land was given to the UT system for expansion, blah blah blah, they found oil, blah blah blah, endowment grew to be insanely huge. However, at some point, that endowment became a source for ALL Texas public colleges and universities, not just those in the UT-System. I'm not saying that they payout is equal, or even proportional, but Tech does reap some benefit from it.
I also had to call and harass current students' parents for donations, which I hated, but it did mean a lengthy conversation with Brian Boddicker's dad, and listening to Royal Ivey's answering machine on one night.
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hmmm... this is interesting... Quote (from Texas Constitution):
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SEC. 13. The Agricultural and Mechanical College of Texas, established by an act of the Legislature, passed April 17, 1871, located in the county of Brazos, is hereby made, and constituted a branch of the University of Texas, for instruction in agriculture, the mechanic arts and the natural sciences connected therewith. And the Legislature shall, at its next session, make an appropriation, not to exceed forty thousand dollars, for the construction and completion of the buildings and improvements, and for providing the furniture necessary to put said college in immediate and successful operation.
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Another interesting tidbit that I've found out through research for a report...
According to UT's chancellor, everyone at UT & A&M are disillusioned, believing they have these huge endowments from their alumni. While they are above normal, the "endowment" that makes the numbers so high is that from the PUF fund (money made off of oil) that is endowed to A&M & UT. Damn, there went that argument about how great your alumni are!
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