Board of Trustees

USF System Finance and Audit Advisory Council

The Finance and Audit Advisory Council (FAAC) is a USF System-wide Council that advises the USF System President and the USF System Chief Operating Officer (COO) on what items should be reviewed and/or acted upon by the USF Board of Trustees Finance Committee and the Audit and Compliance Committee.  FAAC serves as a communication forum for finance and audit issues at the USF System level and its member institutions.  Areas of responsibility to develop and/or review USF System institutional activities include:


  1. Collaborations that enhance effectiveness and cost efficiencies
  2. The USF System Annual Strategic Budget planning process
  3. Adequacy of financial resources to meet the missions of the USF System and its member institutions
  4. USF System’s operating and capital budget requests of the Florida Board of Governors (BOG) and state legislature
  5. Investment, debt, real property and derivatives policies and procedures
  6. Tuition and fees
  7. Direct support organizations and auxiliaries
  8. Capital campaign and annual giving
  9. Annual financial statements
  10. Issuance of debt instruments, consistent with Florida statutes and BOG rules

Audit and Compliance:

  1. Risk assessment and enterprise-wide risk management policies and procedures
  2. Internal controls for information technology security and control, cash handling, and asset management
  3. Internal audit work plan and outcomes
  4. Compliance of federal and state laws and regulations
  5. “Whistleblower” policies and procedures

Government Relations:

  1. Policies, procedures, and practices for interacting with the federal government, state government and local government, agencies and non-profit organizations
  2. Legislative initiatives

FAAC will meet a minimum of four (4) times per year, with its meetings aligned with preparation for the meetings of the Board of Trustees Finance Committee and the Audit and Compliance Committee. 

BOT Agenda Form

FAAC Structure & Membership

The Advisory Council may, at its discretion, form smaller subgroups for particular areas, issues, or initiatives.  Whenever possible, the Advisory Council should seek consensus on issues.

The FAAC chair and vice chair will be appointed from the group by the USF System President annually.  Staff support shall be provided by the USF System Office of the USF System Chief Operating Officer.

USF System Finance and Audit Advisory Council 2017-18 Academic Year


Treasurer, USF System, Co-Chair
Fell Stubbs

Regional Vice Chancellor, USF Sarasota-Manatee, Co-Chair
Ben Ellinor

Senior Vice President, Chief Operating Officer, USF System
John Long

Vice President, Chief Financial Officer, USF System
Nick Trivunovich

Associate Professor, USF Tampa
Scott Besley

Vice Provost, Strategic Planning
Theresa Chisolm

Associate Vice President, Controller
Jennifer Condon

Associate Vice President, USF Foundation
Robert Fischman

Associate Professor, USF St. Petersburg
Rick Smith

CFO, Vice Dean and Senior AVP, Health Sciences
Joann Strobbe

Regional Vice Chancellor, USF St. Petersburg
Joe Trubacz

Associate Director, Intercollegiate Athletics
Yulander Wells

Executive Director, Audit, ex officio
Virginia Kalil

Chief Compliance Officer, ex officio
Jeff Muir

General Counsel, USF System, ex officio
Gerard Solis