An alert posted on USF's Web site Monday afternoon says people on campus should stay inside and lock doors while officers search the area.
Authorities say an off-campus call was transferred to USF police from the Hillsborough County Sheriff's Office. USF police say they are investigating a report of a suspect armed with a bomb and a gun in the library area.
The agency says they have received further information of a subject on a bus in the area of the Parking and Transportation Services. USF police are on scene and attempting to locate and secure the area.
The campus transit system has been shut down until further notice.