Gary Barnes, TTU System Vice Chancellor & CFO, Announces Retirement
Feb. 3, 2022
Letter from Chancellor Tedd L. Mitchell, M.D.
For nearly 45 years, Gary Barnes has served our great state and region as a trusted leader in higher education finance and administration. Since being named Vice Chancellor and Chief Financial Officer of the Texas Tech University System in December 2016, he has been a critically instrumental part of our leadership team that has helped drive the continued success of the system and provided support to our component institutions.
Today, I want to express my sincere gratitude to Gary for his dedication to the TTU System and reluctantly share with you his decision to retire, effective April 30.
During his tenure at the TTU System, Gary has had the tremendous responsibility of overseeing the financial strength and stability of our organization while managing several offices and services. His strong principles, sound judgment and extensive experience in higher education finance spans three institutions – including 35 years at West Texas A&M University – and has made him a vital asset to colleagues at each of our five universities.
Under Gary’s leadership, the operating budget of our system has grown by more than half a billion dollars to $2.5 billion, and we’ve seen the value of our endowment grow to $1.7 billion under his oversight. Both are records in our history as a university system.
His operational and fiscal policies have placed the TTU System at the highest levels of recognition among the world’s most influential credit rating organizations. Our bond rating performance has consistently placed us among the top 100 ranked institutions of higher education with the largest endowments in the country.
Above all, Gary’s collaborative spirit and commitment to integrity have contributed to incredible growth and development across our system, allowing our institutions to consistently provide an affordable education to students and crucial services to our communities. During the TTU System’s 25th anniversary last year, our partnership with Midwestern State University became a reality due in part to his tireless work with various stakeholders, expanding our footprint even further across Texas.
As only the second person in the TTU System’s history to hold this important leadership position, Gary leaves big shoes to fill, and I am grateful he has given us several months to plan for these changes. We are dedicated to a smooth and successful transition and, in the coming weeks, will share information about the search process for his replacement.
Please join me in thanking Gary for his phenomenal service to the Texas Tech University System and higher education and in celebrating him during the months ahead as he prepares for his next chapter.
Tedd L. Mitchell, M.D.