John H. Adams

The Finance Committee agenda included several action items and informational items. Action items covered the approval of an amended Real Property Policy (Policy 09-001) to streamline structure and update thresholds, and the review of Expenditure Authorization Requests. Specific expenditure requests included an increased authorization for the MSL Reinvestment & Recovery project, approval for the FY27 SSC Facilities Services Agreement, and retroactive approval for the FY26 SSC agreement increase. Informational items addressed the Student Housing Update, focusing on occupancy rates and facility reinvestment, and the presentation of Mid-Year Forecasts for Direct Support Organizations and Health Services Support Organizations for FY 2026, including preliminary long-term projections.

The Governance Committee agenda included several action items. Key discussions involved the approval of the November 24, 2025, minutes, consideration of the Institute of Applied Engineering Board of Directors appointments, and the USF Foundation Inc. Board of Directors appointments. A significant item addressed the acceptance of the Performance-Based Funding (PBF) and Preeminence Data Integrity Audits and the subsequent required approval of the Data Integrity Certification, which must be submitted to the Board of Governors by March 1, 2026. Separate documentation provided details on the audit findings, noting that while controls were generally effective, moderate risks related to change management (PBF audit) and the utilization of a test dataset (Preeminence audit) were identified.

The agenda for this meeting includes several key items. Under New Business (Action Items), the Board is set to address the approval of minutes from previous meetings in December 2025 and January 2026. The Consent Agenda involves items approved by the Governance, Finance, and ACE Committees, including matters concerning the Institute of Applied Engineering Board of Directors, the USF Foundation, Inc. Board of Directors, amendment to Policy 09-001 Real Property, tenure as a condition of employment, and proposals for new degree programs (B.S. Fintech and B.S. Architecture) as well as program suspensions/terminations. Further action items include a discussion on the change of accreditation agency, ratification of the Collective Bargaining Agreement (CBA) with Graduate Assistants United, and specific resolutions. The Information Items section features a University Efficiency Presentation.

The meeting agenda included several key new business items requiring action, specifically the acceptance of the Performance-Based Funding (PBF) and Preeminence Data Integrity Audits, and the subsequent approval of the Data Integrity Certification for submittal to the Board of Governors. Information items on the agenda covered the USF/DSO Independent Audit Reports, Annual Compliance Certifications of DSOs, and the Antifraud Framework Mid-Year Status. Supporting documentation detailed the findings of the PBF Data Integrity Audit, noting a moderate risk related to change management impacting the 2023-2024 Retention submission, and the Preeminence Data Integrity Audit, which identified a moderate risk concerning the utilization of a test dataset for the NSF HERD Survey reporting.

The primary discussion focused on New Business Item III a: Approval of Non-Resident Fee Increase. This proposal involved the second phase of a two-part increase, seeking approval for a 15% increase in out-of-state (non-resident) fees effective Fall 2026, following authorization from the Board of Governors. The administration emphasized that this increase, the first in a decade, would keep tuition competitive and reinvest revenues into academic programs and student services, such as advising. A financial conflict of interest was disclosed by Trustee Jadhav, who subsequently abstained from voting. Following discussion and clarification regarding residency classification and comparisons to peer institutions, the 15% non-resident fee increase was approved by the Board.