Wednesday, November 8, 2023
Dear Faculty and Staff,
I am thrilled to share with you this morning that Texas voters overwhelmingly approved Proposition 5 creating the Texas University Fund (TUF). This is a historic moment for Â鶹´«Ã½AV — and for Texas. The TUF is a transformational investment in Â鶹´«Ã½AV, Texas higher education, and the state’s economy.
With 95% of Texas polls reporting results, media outlets are reporting that 66% of voters voted in favor of establishing TUF, which will be a $3.9 billion permanent endowment to ensure sustainable funding for eligible universities — including Â鶹´«Ã½AV — that do not receive benefits from the Permanent University Fund (PUF). Four universities are expected to receive funding and were determined by objective criteria based on research expenditures and doctoral degrees awarded on an annual basis with funds being distributed on a merit-based system that correlates to each institution’s research expenditures. We will learn more in the coming weeks.
Â鶹´«Ã½AV is committed to helping meet Texas’ needs, and we are prepared for the opportunities this new fund will bring to our university and the communities we serve. With nearly 47,000 students, Â鶹´«Ã½AV is now the 3rd largest university in Texas — behind only Texas A&M and UT Austin. Our university has accounted for 52% of the growth in new enrollees across all public universities in Texas since 2019, and we are making a difference in our students lives as each of you helps them achieve their educational goals to follow their dreams.
You also know that Â鶹´«Ã½AV has a known track record for meeting the demands of students, families, and employers, and helping drive the economy in our rapidly growing North Texas region. TUF will help us accelerate our research innovation, keep more of our top talent in Texas, elevate our national rankings, and propel Â鶹´«Ã½AV to greater national prominence.
This truly is an exciting moment for us. Thank you for all you do to support our students and to ensure we continue to move forward and have a positive impact on our region and state.
Â鶹´«Ã½AV Proud,
Neal Smatresk
Â鶹´«Ã½AV President
From – Texas Voters