As blog readers will know, former Chancellor Block left under a cloud thanks to the events of 2023-24. And now he is under an additional cloud of budgetary mismanagement, according to the CFO that he hired towards the end of his chancellorship. But it's not only Block. There remain members of his entourage still in charge.
There has been some walking back of the accusation as well.
From the Bruin: University administrators’ financial mismanagement contributed to UCLA’s $425 million annual deficit,* UCLA’s chief financial officer alleged. Stephen Agostini, who has been UCLA’s CFO since May 2024, alleged that the unaudited annual financial reports the university has posted on its website since 2002 are erroneous. UCLA has not posted the annual reports since the 2022-2023 fiscal year, coinciding with when Agostini became CFO. Agostini said the UC Office of the President asked him to stop posting the misleading reports... “I would prefer not to advertise how badly the place has been managed financially,” he said.
Agostini did not respond to a request for comment on when he learned that the posted reports had incorrect information or which data points were incorrect. He also did not respond to a request for comment about which administrators were involved in the data’s posting.
“I want to clarify that my predecessors have been a welcome resource and providing background and suggestions and I have benefited substantially from their perspectives,” Agostini said in the emailed statement...
Full story at https://dailybruin.com/2026/02/13/financial-mismanagement-contributed-to-425-million-annual-deficit-ucla-cfo-says.
*Exactly what this figure of $425 million means is unclear. CFO Agostini has just released some new financial information on which we will comment later.
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