Editing University of Texas at Austin (section)

===Endowment===
[[File:University of Texas at Austin August 2019 19 (Norman Hackerman Building).jpg|thumb|The Norman Hackerman Building]]
{{Main|Permanent University Fund}}
The University of Texas System is entitled to at least 30% of the distributions from the [[Permanent University Fund]] (PUF), with over $33 billion in assets as of year-end 2021.<ref>{{Cite web|title=2021-12 PUF Semi-Annual Report|url=https://www.utimco.org/media/3689/2021-12-puf-semi-annual.pdf}}</ref><ref>[http://www.capitol.state.tx.us/txconst/sections/cn000700-001800.html As required by the Texas Constitution] {{webarchive|url=https://web.archive.org/web/20051123143431/http://www.capitol.state.tx.us/txconst/sections/cn000700-001800.html|date=November 23, 2005 }}</ref> The University of Texas System gets two-thirds of the ''Available University Fund'' (the name of the annual distribution of PUF's income), and the Texas A&M University System gets the other third. A regental policy<ref>[https://www.utsystem.edu/OGC/RegentalPolicies/AUFspend.htm] {{webarchive|url=https://web.archive.org/web/20050922012448/http://www.utsystem.edu/OGC/RegentalPolicies/AUFspend.htm|date=September 22, 2005}}</ref> requires ''at least'' 45 percent of UT System's share of this money go to the University of Texas at Austin for "program enrichment". By taking two-thirds and multiplying it by 45 percent, UT gets 30 percent, which is the ''minimum'' amount of AUF income that can be distributed to the school under current policies. The Regents, however, can decide to allocate additional amounts to the university. Also, the majority of the University of Texas system share of the AUF is used for its debt service [[bond (finance)|bonds]], some of which were issued for the benefit of the Austin campus.<ref>[https://www.utsystem.edu/CONT/REPORTS/LARs/AUFLAR-102704.pdf] {{webarchive|url=https://web.archive.org/web/20051101111529/http://www.utsystem.edu/CONT/REPORTS/LARs/AUFLAR-102704.pdf|date=November 1, 2005}}</ref> The Regents can change the 45 percent minimum of the University of Texas System share that goes to the Austin campus at any time, although doing so might be difficult politically.

Proceeds from lands appropriated in 1839 and 1876, as well as oil monies, comprise the majority of PUF. At one time, the PUF was the chief source of income for Texas' two university systems, the University of Texas System and the [[Texas A&M University System]]; today, however, its revenues account for less than 10 percent of the universities' annual budgets. This has challenged the universities to increase sponsored research and private donations. Privately funded endowments contribute over $2&nbsp;billion to the university's total endowment.

The University of Texas System also has about $22 billion of assets in its General Endowment Fund.<ref>{{Cite web|title=2021 GEF Audited Financial Statements|url=https://www.utimco.org/media/3647/2021-gef-audited-financial-statements.pdf}}</ref>