Chicago Mayor Brandon Johnson has lost his third chief financial officer in a year after Ashlee Gabrysch said remaining in the post would compromise her professional integrity.
Gabrysch, 42, resigned after just three months, prompting surprise across the city.
In announcing her departure, the former finance executive said she could not stay without compromising her professional standards, although she did not explain what had led to that conclusion.
She wrote: “As the City of Chicago’s Chief Financial Officer, nothing is more important than my fiduciary duty to the city and its taxpayers.
“Statements made by the Chief Financial Officer about the city’s finances are not casual remarks. They are relied upon by investors, ratings agencies, the City Council and taxpayers. The CFO must therefore ensure that such statements are always accurate and complete.”
“Throughout my career, I have been committed to the highest standards of financial integrity and transparency. During my brief tenure as Chief Financial Officer, I faithfully carried out that responsibility.
“However, it has become clear that continuing in this position would compromise my integrity and professional obligations. I have therefore concluded that I must step down and hereby submit my resignation.”
In response, the mayor’s office accused Gabrysch of being “largely absent during critical periods” in a strongly worded statement.
Ashlee Gabrysch, 42, resigned after just three months in the role
Chicago Mayor Brandon Johnson has lost his third CFO in a single year
A spokesperson for the mayor’s office told the Daily Mail: “The City of Chicago is confronting a serious budget crisis after decades of mismanagement. It is concerning that Ashlee was largely absent during crucial stages of the city’s budget preparation process.
“Her decision to instruct the City Treasurer to issue a $75 million payment without proper legal authority or adherence to the required procedures also raises serious concerns.
“Our administration made several efforts to meet with her about the decision and request an explanation, including shortly before her public resignation. Those efforts were not resolved.
“Because of the seriousness of these concerns, we will refer the matter to the city’s Office of Inspector General for an independent review. We welcome a complete examination of the conduct in question.
“Our administration takes seriously its duty to protect taxpayer funds, comply with the law and manage the city’s finances responsibly. We expect every city official to meet that standard.”
According to her LinkedIn profile, Gabrysch joined the city in August after seven years at Fitch Ratings.
She succeeded Steven Mahr, who held the CFO position from February until August of this year.
Mahr, a former employee of investment bank Stifel, had taken over from Jill Jaworski.
Gabrysch said continuing as CFO would compromise her “integrity and professional obligations”
The mayor’s office accused Gabrysch of being “largely absent during critical periods”
Jaworski left after two years to become Chief Finance and Administrative Officer at Navy Pier, one of Chicago’s most popular tourist attractions.
Finance Committee Chair Pat Dowell called for an external audit of the city’s finances following Gabrysch’s resignation.
Local media reports said the city is facing a projected deficit of $882.4 million next year, while Mayor Johnson is seeking to increase spending by more than $665 million.
More than half of that increase would be directed toward pensions and payments on existing debt.
Johnson hopes to narrow the shortfall with nearly $427 million in new taxes and fees.
According to Illinois Policy, the proposals include a previously rejected corporate head tax and a substantial increase in the personal property lease transaction tax, including charges on cloud computing and software.
Chicago is expected to spend an eye-watering $2.2 billion on debt obligations next year, more than $268 million above last year’s total.
The proposed budget would also include $481 million in borrowing to settle police misconduct lawsuits. The administration says the move would save the city money by avoiding the cost of prolonged litigation.
The Daily Mail has contacted the Office of the Mayor of Chicago for comment.