UCF president offers to resign after school misused funds

ORLANDO, Fla. (AP) — The president of the University of Central Florida is offering to resign following criticism over the school's use of $38 million in leftover operating money on the construction of a new academic building.

UCF President Dale Whittaker sent a letter offering to resign on Tuesday to the chairman of the UCF Board of Trustees.

In the letter, Whittaker says the university has made progress to make sure the problem never happens again. Whittaker, who was chosen as president last year, says he is offering his resignation to restore confidence in UCF.

In a letter to trustees, UCF chair Robert Garvey says he is grateful to Whittaker for putting the university's interests ahead of his own interests.