ORLANDO, Fla. — UCF Board of Trustees Chairman Marcos Marchena stepped down Thursday in the wake of an investigation into improper spending by the university.
- Trustees Chairman Marcos Marchena sent letter to Board of Governors
- He said former CFO was responsible for the improper spending
- Marchena will remain a member of the Board of Trustees
"My service to UCF has never been about me, but about what is best for the university, the students and the community we serve. So, to show the seriousness with which I have approached this matter, I will relinquish the board chairman position today," Marchena said in a statement to the Board of Governors. "It is my hope that doing so will make it clear to you and all concerned that the investigation and the actions we took as a result of it were thorough, objective and fair."
Marchena will remain a trustee, UCF said.
UCF has acknowledged misusing funds to build the $38 million Trevor Colbourn Hall in 2014. The funding should have come out of a capital outlay budget, which was meant for facilities. President Dale Whittaker has said the university ultimately misspent more than double that amount.
Two weeks ago, Whittaker fired four senior Administration and Finance division employees.
In his statement, Marchena put the blame on the improper spending on the shoulders of former CFO Bill Merck.
"I want to be unequivocal here, the only imprudent behavior was Mr. Merck's decision that he knew best and that he would get Trevor Colbourn Hall built with restricted funds without giving the Board of Trustees a legitimate opportunity to decide the correct course of action."
As part of several recommendations to the board resulting from the investigation, Merck was stripped from some unpaid performance bonuses. Whittaker also will be ineligible for the university's Performance Bonus Program for two years.