UCLA fires top finance offer, saying he made inaccurate claims about campus budget

February 18, 2026 - 09:13

The University of California, Los Angeles, has terminated its top finance official, Stephen Agostini, from his role as chief financial officer. The dismissal, which took effect Tuesday, follows an internal review of public statements Agostini made regarding the campus's financial health.

According to a university statement, Agostini was removed after making "inaccurate" remarks about the existence of a significant $425 million deficit within the campus budget. The administration clarified that while UCLA, like all UC campuses, faces ongoing fiscal challenges, Agostini's characterization of the shortfall was not correct. The specific nature of the inaccuracies and the context of his statements were not detailed in the announcement.

The sudden departure of the CFO has sparked discussion within the university community about budget transparency and management. UCLA has appointed an interim chief financial officer to oversee the division while a national search for a permanent replacement is conducted. The administration emphasized its commitment to responsible fiscal stewardship and accurate communication as it navigates its financial planning processes. The move underscores the heightened scrutiny on university finances amid broader economic pressures on higher education institutions.