Texas Border Business
WESLACO, TEXAS – JUNE 3, 2015 – On the final stop of his Tour of Texas, the president of The University of Texas Rio Grande Valley had a special treat for alumni and supporters of its legacy institutions, The University of Texas-Pan American and The University of Texas at Brownsville.
The final slide of Guy Bailey’s presentation to more than 100 people on June 2 at the Weslaco Business, Visitor and Event Center shared information he had not shared before: that the Texas Legislature has appropriated more than $253.5 million to UTRGV for the 2016-2017 fiscal year – the second-highest amount awarded to an institution in The University of Texas System.
“We never have to take a back seat to anybody, to anything,” Bailey said. “We are going to implement new programs … we’re going to be the best. And our students are going to be the best. This is what happens when the Valley works together, when we work together as one. That’s where we are, and that’s the opportunity that really lies ahead for all of us.’
Since March, Bailey has been traveling the Lone Star state, meeting with UTPA and UTB alumni, donors, friends and supporters in personal gatherings, to hear their thoughts on the creation of UTRGV and share his vision for the new university. Previous meetings were held in Houston, Dallas, Austin and San Antonio.
The Tour provided alumni and friends a prime opportunity to discuss, one-on-one, with President Bailey what they can do to help spread the word about the new university. The Valley event had a record number of Tour attendees, with 110 guests.
Bailey explained the history of how UTRGV came to be and how important it was for the university to have access to the Permanent University Fund. The last time a university became eligible for PUF money was in the 1970s, when UT San Antonio entered the select group, Bailey said.
So far, the state has approved $500 million in Permanent University Fund (PUF) money for UTRGV, he said. The Permanent University Fund (PUF) is a sovereign wealth fund created by the State of Texas to fund public higher education within the state. A portion of the returns from the PUF are annually directed towards the Available University Fund (AUF), which distributes the funds according to provisions set forth by the 1876 Texas Constitution, subsequent constitutional amendments, and the board of regents of the University of Texas System and the Texas A&M University System.
He also talked about UTRGV’s plans to expand opportunities for academic studies and research throughout the Valley, highlighting the School of Medicine and the Centers of Excellence.
“Our main focus is the success of the students,” Bailey said.
As the creation of the new university moves forward, the legacy institutions will be embraced and honored in all areas of academics, athletics and other achievements, he said.
About The University of Texas Rio Grande Valley
The University of Texas Rio Grande Valley was created by the Texas Legislature in 2013 in a historic move that will combine the resources and assets of UT Brownsville, UT Pan American, the Regional Academic Health Center and for the first time, make it possible for residents of the Rio Grande Valley to benefit from the Permanent University Fund, a public endowment contributing support to eligible institutions of The University of Texas System and the Texas A&M University System.
UTRGV will also be home to a School of Medicine and will transform Texas and the nation by becoming a leader in student success, teaching, research and health care. UTRGV will enroll its first class in the fall of 2015, and the School of Medicine will open in 2016.
