Discussing nicknames on a board full of avatars and usernames.
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It isnât and hasnât been a talking point by either party because outside of 17 folks on a Coog message board, no one knows what it is. If it was a big talking point and the pollsters found out that it was everyone would talk about it.
Would getting puf money really effect anyone on this board other than joining a peeing contest with more pride? Do you think it would address the cost of tuition? You think if we get that PUF money that Renu will drop that 13k a year tuition? No, we will build our endowment (which means a lot to students racking up 50k worth of debt if they only take 4 years to graduate) and still be asking former students to donate.
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I have not read PUF regulations but would UT and a&m have to share their cut with us or would we get a separate allotment?
They would have to shareâŠ
That is WHY they block us from having access to it.
Here is the skinny, UT controls the investment board for the PUF and gets 2/3 while ATM gets 1/3.
UH has more support in the Texas legislature than in the past but itâs a Texas constitutional amendment so it will require 2/3 vote of both houses I believe.
IMO it will require a scenario that brings in Tech so you can get the west Texas support and it would be an amendment that sets up a new PUF controlling board away from UTâŠ.it would then take half of UTs cut and split it between Tech and UH, leaving ATMs cut untouched, this would gain the ATM and east Texas votes.
in the end a neutral party would control the fund UT and ATm would have a third and UH and Tech would have 1/6 each.
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UTâs financial advisers have the Midas touch. Changing how itâs invested by taking investments away from proven winners would be dumb.
Same question I have about joining the big 12. Will that extra income mean les student service fees charged to students to continue subsidizing athletics?
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The LtGovâs name change was in honor of in-laws (family).
Betoâs nickname was a cultural misappropriation by his Dad.
Advantage Patrick.
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To the point, great explanation. ANYBODY against this has ulterior motives.
What we have right now is the main PUF benefeciary a public school at that ACT like a private university or a private country club.
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What really annoys me is all the UT and A&M
system components reaching into the HEAF
when their systems have one of the largest
endowments in the whole nation.
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@88coog Thanks for the education.
With the percentage breakdown you made, how much PUF would UH get?
Unless they have reversed course and shifted tactics, this is not what the ask is by UH (and Tech) per their last testimony before the HECB a few months ago. UH admin is asking for a separate PUF-like endowment dedicated to UH. And Tech is asking for the same, a separate endowment for them. Theyâre not asking to access the existing PUF or its funds which is the clever route as it alleviates putting the Aggie and Horn legislators undies in a twist.
The endowment is crucial as, like the PUF does for UT/A&M, the annual disbursements are widely unrestricted funds that can be used for anything that promotes and advances âinstitutional excellenceâ. Whereas now the monies they get from various pots are highly restricted to certain things/areas limiting the UH adminâs ability to move things around as needed.
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As I understand it, the funding source for the existing PUF is oil and gas revenues. What is being suggested as the funding source(s) for the proposed PUFâs for UH and Tech?
Donât under estimate Dr Khator.
Sheâs never lost so far
âŠbut the reality is that he has NOT amended the Texas Constitution, during his time as Governor of Texas, to include UH & TT access to the PUF.
Why do you think this next term will be different?
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It wasnât really specifically addressed from what I remember of the committee meeting. I remember one senator saying it might be difficult to find or allocate the revenues for the endowments but it was clear that thatâs an action item for the committee to have figured out in time for the next biennium legislative session. I imagine it would also be O&G revenues.
That requires a 2/3 vote of each chamber.
Not an easy task for ANY Governor, given the Whorn and Gaggie mafia.
Creating a new endowment for UH may not require an amendment though.
Iâd have to check on that.
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This seems to be getting very politicalâŠI guess next we will be talking about their felony convictions lolâŠ
The PUF and order funds are run by UTIMCO out of Austin. Last word from Bloomberg UTâs portion broke 43ish B. The CEO/CIO of the PUF is Britt Harris, an Aggie Finance grad that is one hell of an investor (he teaches Titans of Investing at A&M). Heâs been a part of a lot of pension funds (Texas Teacher retirement fund, Verizon Employee Pension fund, and had a short stint at Ray Dalioâs Bridgewater Associates).
Being that the PUF is an endowment the principal canât be spent, but a significant portion is O&G land where it creates something like $6-700 million (2011 records) a year in interest and royalties. In 2022, itâs probably closer to $1B in royalties and interest (I havenât verified, of course). If we say that UH gets 1/6 of that, UH would be getting >$150 million per year, give or take the fluctuations.
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