The University of Texas System Board of Regents has reinforced its commitment to The University of Texas Rio Grande Valley School of Medicine by approving $20 million in Permanent University Funds (PUF) for capital expenses.
“We are grateful to the Board of Regents for its continued support of the UTRGV School of Medicine,” said Dr. John Krouse, dean of the UTRGV School of Medicine and vice president for Health Affairs.
“This allocation will enable the School of Medicine to become a leader in research that will benefit the Rio Grande Valley and beyond, and prepare the next generation of physicians who will provide exceptional care to the communities they serve,” he said.
The $20 million in PUF bond proceeds is part of the $100 million the Board of Regents approved in December 2012 for start-up costs for the School of Medicine. Of that $100 million, the board previously had approved $30 million in PUF, leaving $50 million available for the School of Medicine.
Permanent University Funds can only be used for capital expenses, such as the purchase of equipment and construction projects.