$1 million claim against city by former finance officer remains unsettled

A month after she was fired in July, Terri Velasquez publicly blew the lid on the alleged misuse of El Pomar Foundation funds when she filed a $1 million claim against the city.

Velasquez, the city’s former chief finance officer, said she notified El Pomar in early 2009 that LandCo Equity Partners had spent about $94,000 inappropriately.

Velasquez also claimed that she refused two separate requests from city officials to prepare a statement to El Pomar certifying that the grant funds had been used as intended.

Velasquez says she was fired for exposing a string of financial improprieties at City Hall. Her assertions prompted Mayor Steve Bach to launch an investigation.

The investigation, started in August, has cost more than $55,000 and still isn’t complete.

The claim filed by Velasquez hasn’t been settled either.

Velasquez, through her attorneys, declined comment about Marshall’s arrest.

“She feels it would be inappropriate to make any form of public comment about the USOC grant funds issues given the fact there is a criminal proceeding pending at this time,” attorney Brian Bradford said in an email.

Meanwhile, Velasquez has tried to move on.

Velasquez was a finalist for the job of chief financial officer in Sonoma County, Calif., as well as for the city of Manitou Springs. But she didn’t get either job.

“Yes, we were aware of (the $1 million claim against Colorado Springs), and the answer is no, it didn’t factor into the decision,” said Jack Benson, Manitou’s city administrator.