FRANKFORT, Ky. (WDRB) — Kentucky State University’s president resigned Tuesday amid concerns about the school's financial health and lawsuits alleging misconduct by campus officials.

The school's Board of Regents accepted M. Christopher Brown II's resignation at a specially called meeting, news media outlets reported. Brown’s resignation comes after four years on the job.

“The Board accepts Dr. Brown’s resignation and supports the current administration as they ready to engage with students, parents and campus stakeholders for the fall semester,” said board chair Dr. Elaine Farris in a release. “We anticipate a cordial, collaborative and seamless transition and wish Dr. Brown well as he follows his interest in other professional endeavors.”

The regents named Clara Ross Stamps as the school’s acting president. Stamps has been a senior vice president and spokeswoman at KSU.

The board also voted to hire auditors to review the school’s financial situation. Stamps declined afterward to provide any information about possible problems or the reason for Brown’s departure, the Lexington Herald-Leader reported.

Some regents had previously reached out to Gov. Andy Beshear’s administration with concerns about the school.

Just hours after Brown's resignation, Beshear ordered a full, independent investigation into the university's finances. 

KSU’s budget this fiscal year is $49.9 million, of which $27.1 million comes from the state’s General Fund. The legislature last year authorized a $55.5 million bond to build a 400-bed dormitory and dining hall at the historically Black college using private financing.

Brown's departure comes amid a half-dozen lawsuits pending this year accusing college officials, including Brown, of various acts of misconduct, the Lexington newspaper reported.

Kentucky State University is a public, historically Black university.

Copyright 2021 WDRB Media. The Associated Press contributed to this report.  All Rights Reserved.