Frank Graydon

He was born in Ovalo, Texas on February 11, 1921 to Jennie Lewis (Drake) Graydon and the Rev. A.O. Graydon, a Methodist circuit minister in the West Texas area whose conservatism and strong faith influenced Frank throughout his life.

Frank was predeceased by his wife of 52 years, Mary Elizabeth Galt Graydon, who died in 1995, his sister, Ruth Graydon Dean of Lubbock, and his grandson, Gregory Dean Graydon of Rolla, Missouri. Frank is survived by his son, Galt Graydon, wife Gayla, and their daughter Cassie of Austin; his son David Drake Graydon and wife Peggy, of Lebanon, Missouri, their children Carla Graydon of Austin and Michael Graydon of Phoenix, Arizona, and five great grandchildren.

Frank graduated from Lubbock High School in 1938 and continued his formal education at Texas Technological College, graduating in 1941 with a B.B.A. degree with honors. He was accepted for graduate education at Northwestern University in Illinois – at that time one of the most prestigious business schools in the country – and in 1943 was awarded an M.B.A. in Accounting. On their graduation day in June, 1943, he married his devoted wife, Mary Betty, in the Chapel on the Northwestern campus.

His years in the Chicago area convinced Frank of two things – that he would return to Texas as soon as possible and that he would apply his accounting education to teaching and public service. These resulted in his serving as an Instructor of Accounting at Texas Technological College in Lubbock 1944-1945, as Chief Accountant and Instructor (part-time) at the University of Houston 1945-1946 and then as an Assistant Professor of Accounting at The University of Texas at Austin from 1946-1950. During this period he completed the requirements for the Texas C.P.A. designation. Recognizing the developing trend to aspects of business and accounting, Frank moved to Detroit, Michigan for a year (1950-1951) to work in the accounting department of Ford Motor Company to gain experience in private sector finance.

In 1955, Frank began a second association with The University of Texas as he accepted a joint position as Budget Director for the U.T. System and tenured faculty member of the Department of Accounting at U.T. Austin. After 35 years in those positions, Frank began modified service in 1990 as Special Counsel to the Chancellor – Budget and Finance where he served until 1993 when he fully retired. In recognition of his long and distinguished administrative and academic service to the U.T. System and to U.T. Austin, the Board of Regents in 1993 honored Frank by designating him Budget Director Emeritus, U.T. System and Professor Emeritus, U.T. Austin. He is also a Life Member of the American Institute of C.P.A.s.

Consistent with his being raised as a preacher's son, most Sundays would find Frank in church where the denomination was of less significance than the quality of the biblical lessons. He spent several terms on the lay governing boards of the Episcopal Church of the Good Shepherd and Covenant Presbyterian Church.

A chronological recitation of Frank's administrative and academic career does not recognize the significant accomplishments of that career or convey the profound respect and admiration with which he was regarded by his many friends, associates, and co-workers. In his years with the Legislative Budget Board, he developed the first Formula System for funding Texas higher education – a system still in use and designed to ensure equal state financial support for academic programs in each of Texas public colleges and universities. The formula funding concept, originally designed only for undergraduate programs, has since been expanded to graduate and professional academic programs.

In a career of nearly 50 years of close association with the financing and budgeting of higher education in Texas, Frank was regarded by legislative committees, boards of regents, university administrations and many higher education executives whom he mentored as the institutional memory and policy expert on the higher education funding process. In an era of remarkable expansion of Texas higher education, Frank was the fiscal manager whose advice, consultation, experience and integrity were valued throughout the higher education community.

How will Frank be remembered by his scores of friends and associates? In a letter written June 24, 1946 (more than 60 years ago) by the Dean of the Division of Commerce at Texas Technological College in support of Frank's application for a position on the U.T. System faculty are these words: "Frank was among the upper five percent in scholarship as well as the possessor of a highly desirable personality and the ability to get along well with other people … We found him to be an exceptionally good teacher, much appreciated by his students … I am sure he will make a professor of the first rank as the years pass". Those words suggest well how Frank will be remembered.

Frank is now being welcomed to the Heavenly branch of Longhorn Country where he will be warmly received by others whose legacies have resulted in the growth and development to excellence of The University of Texas System. Together they will share many "cold ones" and marvel at the higher education enterprise that resulted, in part, from their efforts.

Memorial contributions may be made to the Frank Graydon Scholarship Fund, c/o Development Office at U.T. Austin, St. Jude Children's Research Hospital, or to a charity of your choice.

Visitation hours will be from 5:00 to 7:00 p.m. on Thursday, May 31st at Weed-Corley-Fish Funeral Home on North Lamar. Funeral services will be at 10:00 a.m. on Friday, June 1, 2012 at Covenant Presbyterian Church, 3003 Northland Dr, Austin. Interment will follow at Austin Memorial Park.