Members of the Board of Trustees’ Audit and Compliance and Finance Committees met Tuesday morning to discuss and approve various action items for the university’s 2022-23 operating budget, including increased investments for health, housing and sports.
The Teams meeting consisted of 55 attendees and occurred between 9 and 11 a.m. Items of action involved speakers presenting nine expenditure authorization requests to attendees, which were all approved unanimously. Action item A – a performance based-contract for Morgan Stanley advisory services – will generate capital funding for USF Tampa by stimulating increased revenue in parking and housing sectors.
Renovations to the Cypress housing complex, which is made up of four buildings — Cypress A and B are suite-style dorms, and buildings C and D are apartment-style — were approved by the committee with an estimated project cost of $2.8 million. This includes flooring replacements in the apartments, as well as renovations to hallways, elevator lobbies, kitchens and baths across the complex. There is a future provision for conditioning Cypress A-D stairwells.
Further infrastructural improvements were also granted to non-residential, one-story buildings in Holly, Maple and Magnolia generally used for office and student activity spaces. The initiative amounts to a total project cost of $2.5 million and will repair prior damages and leaks in the roofing as well as add roof access stairs to each building.
Expanding the USF Student Health Resource Center was an objective highly supported among members of the committee. With the approved $3.9 million budget, USF will aim to renovate and expand The USF Health Center for Wellness, Engagement, Leadership and Learning by 25,000 square feet, including new spaces for instruction, academic advising, studying and recreational activities.
Other projects approved for funding included installing low-voltage cabling in buildings across campus, upgrading chilled water infrastructure on the Sarasota-Manatee campus, designating Office Depot as the sole provider of products sold in the USF Bookstore and investments in better laboratory equipment and supplies for students.
Both committees also moved to re-extend USF’s five year renewable partnership with the Tampa Sports Authority and Raymond James Stadium to 2027. Under the estimated project cost of $17 million, members voted to structure the budget for up to seven collegiate games per season at an expected 30,000 attendees per game, with additional expenditures including parking and concessions.