Overview
- Chancellor Julio Frenk said Stephen Agostini will no longer serve as vice chancellor and CFO effective immediately, naming Reem Hanna-Harwell interim and launching a national search.
- UCLA called the $425 million figure inaccurate, saying it includes uncommitted or unapproved items, and declined to provide an updated deficit estimate.
- In a Daily Bruin interview, Agostini alleged long-standing errors in posted financial reports and labeled the halted Ascend finance project a costly failure with spending reported between $150 million and more than $213 million.
- Faculty leaders and the Academic Senate urged independent auditing and greater transparency, including a phased plan to reduce institutional subsidies for athletics.
- University officials cited broader institutional and external pressures for current strains and asserted UCLA retains the financial strength to adapt.