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Regents said they chose the UT System because of its access to the Permanent University Fund, which consists of oil and gas assets. The Stephen F. Austin State University Board of Regents voted Tuesday to accept an invitation to join the University of Texas System, selecting the Austin-based system from four across the state that had extended invitations to join their ranks this year. Board members said all four systems — the Texas A&M University System, the Texas State University System, the Texas Tech University System and the University of Texas System — assured them that the East Texas university would be able to keep its autonomy, as well as its name, mascot and school colors. And a financial analysis showed the university would benefit financially in some form from joining any of the systems. But regents said joining the UT System was the most attractive option because of the access to funding from the Permanent University Fund, which consists of assets created by oil and gas revenue from 2.1 million acres of land in West Texas that rake in billions of dollars annually. “Any other regional comprehensive university in the state would give its proverbial right arm to be in the position we're in today,” said regent David Alders, who said the board has discussed over the years how nice it would be to “secure a piece of a [Permanent University Fund] pie.” “Here, this slice of that pie is being presented to us on a silver platter. I believe it would represent a dramatic dereliction of our duty to not accept this invitation,” he said. read more: https://www.texastribune.org/2022/11/29/stephen-f-austin-state-university-system-vote/