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Regents appoint and reappoint members to University Lands Advisory Board
AUSTIN — The University of Texas System Board of Regents today appointed and reappointed three members to serve on the University Lands Advisory Board.
The Board reappointed Regent Alex M. Cranberg to serve a three-year term and Vice Chairman Jeffrey D. Hildebrand to serve a two-year term and appointed Stephen A. Holditch, Texas A&M University professor emeritus, to serve a three-year term as the Texas A&M System representative.
Holditch will succeed University Lands Advisory Board Member and Texas A&M System Regent Morris E. Foster.
The University Lands Advisory Board provides strategic direction to the UT System Board of Regents on the operations and management of University Lands. University Lands oversee activities on 2.1 million acres of land that stretch across 19 far-West Texas counties in the oil-rich Permian Basin and serve as a valuable resource for the UT and Texas A&M system institutions.
Revenue from oil and gas production on University Lands flows into the Permanent University Fund, which supports capital projects at the institutions of the UT and Texas A&M Systems. Revenue from surface leases and activity generates income for the Available University Fund (AUF). In addition, a small percentage of the PUF is distributed annually to support UT Austin, Texas A&M College Station, Prairie View A&M and the System operations.
About The University of Texas System
Educating students, providing care for patients, conducting groundbreaking basic, applied and clinical research, and serving the needs of Texans and the nation for more than 130 years, The University of Texas System is one of the largest public university systems in the United States. With 14 institutions and an enrollment of more than 217,000, the UT System confers more than one-third of the state’s undergraduate degrees, educates almost two-thirds of the state’s health care professionals annually and accounts for almost 70 percent of all research funds awarded to public institutions in Texas. The UT System has an annual operating budget of $16.9 billion (FY 2016) including $3 billion in sponsored programs funded by federal, state, local and private sources. With about 20,000 faculty – including Nobel laureates – and more than 70,000 health care professionals, researchers, student advisors and support staff, the UT System is one of the largest employers in the state.