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Floyd Central Dazzlers coach Todd Sharp welcomes a crowd gathered inside the school's gymnasium for a dress rehearsal of his team's two routines in this file photo. 

LOUISVILLE—Local dance coach Todd Sharp, who led the University of Louisville's Ladybirds dance team, was dismissed Monday due to "fiscal misconduct," according to the university.

Sharp also resigned from his position as coach for the Floyd Central High School Dazzlers dance team.

A six-month review of the university's Cheer and Dance program found that the team's deposits were about $40,000 less than expected, according to a copy of Sharp's termination letter received by newsgathering partners WAVE3 News through an open records request. An investigation was conducted by the UofL Audit Services and the Louisville Police Department.

The letter, dated Dec. 14, was sent by UofL Director of Athletics Vince Tyra on behalf of the University of Louisville Athletic Association (ULAA). The letter states that interviews during the review identified Sharp "as the recipient of payments, fundraising, and sales proceeds," and that he directed funds to be sent directly to him in cash.

The letter said the review found "substantial evidence" of Sharp's engagement in fiscal misconduct "through violation of university cash handling policy and diversion of revenue from athletic accounts, resulting in use of [his] university position for potential personal gain."

The review found that deposit activity for the program between May 2016 and October 2018 totaled $29,372. The letter says the expected deposit amount from April 2017 to June 2018 was more than $70,000. His final date of employment was Friday, Dec. 15, according to the letter.

As of press time, Sharp had not responded to the News and Tribune's request for comment.

Floyd Central Principal Rob Willman said in an email that Sharp resigned from his coaching position several weeks ago. He said it is not the school's policy to discuss staffing matters.

"We appreciate his dedication to the program and wish him well," he wrote.

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