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TO: Finance and Budget Staff; Finance and Operations Staff; Deans, Directors and Department Chairs; Campus Unit Finance Leads
FROM: Nate Knuffman, Vice Chancellor for Finance and Operations

I am writing to let you know that Steve Agostini, senior associate vice chancellor for Finance and Budget, will be leaving Carolina to serve as the next vice chancellor and CFO at UCLA, starting May 6. I’m enormously grateful for Steve’s leadership and service to Carolina during a time of both great upheaval and progress, and I know he will be missed by his team and many colleagues across campus.

Steve joined the University in 2019 and has made many contributions during his five-year tenure. Importantly, Steve helped lead the University’s efforts to create our first “all-funds” budget, totaling more than $4 billion annually. He also led efforts to maintain sufficient working capital during the COVID-19 pandemic to preserve University activities and employment, while managing $48.2 million in pandemic relief funds. In 2020–21, Steve was instrumental in helping the University resolve a structural gap equal to 9% of expenses in the University’s general fund, and in 2022–23, he co-authored and implemented a new allocation model for the University’s facilities and administrative (F&A) reimbursements, totaling $240 million.

Steve has served as a key strategic advisor for me and other campus leaders. His contributions have helped shape the strong financial standing that we have today, and his budgeting and financial acumen and guidance will be greatly missed. Please join me in wishing him well in his new role at UCLA.

We will complete an organizational assessment and begin the search for new leadership for Finance and Budget over the coming weeks. I am confident that we will identify an exceptional leader to continue in Steve’s role, and I look forward to sharing updates with campus as we have them.

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