UCLA fired its chief financial officer Tuesday after officials said he inaccurately described the campus deficit.
The firing of Steve Agostini was announced by Chancellor Julio Frenk in a campus-wide message, without elaborating on the reason for the change.
A source with knowledge of the situation told the Los Angeles Times that the firing was tied to Agostini’s public statements regarding the budget and long-term financial management, which were made without Frenk’s approval. The person asked to have their name withheld because they were not authorized to speak to the media about administrative matters.
The change came days after Agostini gave an interview to the Daily Bruin student newspaper saying the campus had “financial management flaws and failures” predating his arrival in 2024, leading to what he said was a $425- million deficit.
In the interview, Agostini blamed financial woes on faculty and staff raises, academic departments’ requests for new positions and expanded programs, and UCLA athletics, which has run in the red for multiple years.
Reem Hanna-Harwell, senior associate dean for finance and administration in the UCLA College, will serve as interim vice chancellor and chief financial officer, Frenk said.
A national search for a permanent vice chancellor and chief financial officer will begin in the coming months, Frenk said.
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