Chicago's Chief Financial Officer Ashlee Gabrysch resigned abruptly Friday morning after only about three months on the job, telling city officials that continuing to serve as Mayor Brandon Johnson's top financial advisor would “compromise my integrity and professional obligations.” Her departure has set off a fight between City Hall and at least one alderman over who is responsible for a disputed $75 million pension payment, and whether an outside investigation is now warranted.
According to WTTW, the mayor's office said Gabrysch directed the city treasurer to issue a $75 million payment without proper legal authority or following the required processes. The payment traces back to a November 2 vote, when the City Council approved using $75 million from the parking-meter sale to make an extra payment toward the city's underfunded pension funds, passing the measure 44-6, as FOX 32 Chicago reports. Gabrysch ordered City Treasurer Melissa Conyears-Ervin to make the payment on November 6, and Acting Corporation Counsel Renee Hatcher told her by email that she had acted without the necessary legal authority, per the same WTTW report.
The mayor's office said it made multiple attempts to meet with Gabrysch to discuss the action and seek an explanation, including shortly before her public resignation, but those attempts went unresolved, according to spokesperson Novelo's statement cited by the station. City Hall said it would refer the matter to the city's Office of Inspector General given the seriousness of the concerns, and added that it takes seriously its responsibilities to protect taxpayer dollars, uphold the law, and manage city finances responsibly.
Alderman Pushes for Independent Review
Ald. Bill Conway has gone further than the mayor's office, calling for an independent investigation into Chicago's financial statements and saying any findings warranting referral should go to law enforcement. Conway called Gabrysch's resignation letter an “obvious indication that she was asked by the Mayor's office to present false information,” according to the Chicago Sun-Times. He has requested that the city inspector general investigate independently and report findings directly to the City Council, saying the inspector general should present those findings immediately.
Conway said that asking a CFO to act or speak dishonestly would be shocking and potentially criminal fraud, and he warned that lingering questions about Chicago's finances could affect the city's credit rating and worsen its fiscal position, a concern that carries weight as Chicago continues borrowing money while approaching a budget deadline. Other aldermen plan to organize hearings on the matter, per FOX 32 Chicago's reporting.
Comptroller Michael Belsky, who will serve as acting chief financial officer, pushed back on suggestions that the administration had kept the public in the dark. He said Mayor Johnson and his team had been transparent with the public and City Council about the city's fiscal position, adding, “Any suggestion to the contrary is simply incorrect,” per WTTW's report.
Competing Numbers on the Budget
In her resignation letter, Gabrysch said taxpayers, aldermen and investors all rely on the city's financial numbers being accurate and complete, and she said she could not fulfill her duties under the conditions in which she had been asked to serve. WTTW reports that Gabrysch said borrowing for police-misconduct settlements reduced the share of the budget gap closed with revenue the city could count on in future years to 56%. The Sun-Times cited the administration's claim that Johnson's $17.6 billion pre-election budget was 76% structurally balanced.
The dispute comes amid a broader budget standoff: the Johnson administration and the City Council remain separated by roughly $409 million over the 2027 spending plan, according to WTTW. WTTW reported an initial September budget-gap projection of $882.4 million; after the decision to borrow for police-misconduct settlements, the administration had to close a $652.5 million gap. The November 2 parking-meter vote itself opened a new $75 million hole in the mayor's proposed spending plan, according to the Tribune's earlier coverage of that vote.
A Pattern of Turnover at City Hall
Gabrysch is the third chief financial officer to leave Johnson's administration within a year, the Sun-Times notes. That turnover comes as Chicago's credit history shows strain: Fitch Ratings downgraded the city's issuer default rating to BBB-plus from A-minus in February, with a negative outlook, according to Bond Buyer.
The extra pension payment at the center of the controversy was meant to be made on top of the actuarial and supplemental payments already built into Chicago's 2027 budget, per Bond Buyer's reporting. For now, it remains unclear whether the inspector general's office will take up Conway's request, or what the review — if it proceeds — might find.
