Mayor Brandon Johnson appointed a new chief financial officer Monday, filling one of two vacancies on his fiscal team heading into his fourth budget cycle this fall.
Ashlee Gabrysch, most recently a senior director at Fitch Ratings, was named to the post after former CFO Jill Jaworski stepped down at the beginning of the year. Gabrysch takes over from acting CFO Steve Mahr, who left last month after holding the position on an interim basis for several months.
That leaves only one spot on the finance leadership team vacant — budget director — after Annette Guzman resigned last week. Johnson said at an unrelated news conference Tuesday morning that the process to name Guzman’s replacement “is ongoing, and we’ll do it with some expediency.”
“Ashlee Gabrysch brings an extraordinary depth of knowledge of Chicago’s finances and the fiscal challenges facing cities across Illinois and the country,” Johnson said in a statement Monday evening. “Her experience inside government, in public finance research, and analyzing Chicago’s credit gives her a unique perspective on the opportunities and challenges before our city. Ashlee understands that sound financial management requires building the long-term stability necessary to continue making investments in neighborhoods, deliver essential services, and create a safer, more affordable Chicago.”
At Fitch, Gabrysch was the lead analyst for the Chicago and Illinois region since 2019. Before that, she was a deputy director at the Illinois State Treasurer’s Office, overseeing the rollout of Secure Choice, the state-facilitated retirement savings program, and worked as a financial analyst under the Cook County CFO.
“I know the seriousness of the challenges before us, but I also know the strength and resilience of this city,” Gabrysch said in her statement. “I look forward to bringing my experience, analytical rigor, and commitment to public service to the City of Chicago and working with the Mayor, City departments, elected officials, and communities across Chicago to build a stronger and more sustainable financial future.”
Johnson is slated to introduce a 2027 budget proposal in October, when City Hall is expected to once again face a staggering deficit it must close by year’s end. The mayor, should he declare a reelection bid, and aldermen will also be in the throes of campaign season. After the arduous road to passing this year’s budget, one that Johnson’s City Council foes muscled through against his will but that nonetheless averted a government shutdown, it’s unclear how contentious this next round will get.
The mayor, for his part, has continued to press for progressive revenue. His head tax proposal last year failed to gain enough traction, but the opposition bloc in City Council has so far fallen short of a veto-proof majority during the last year of legislative skirmishes.
Meanwhile, the 2026 spending plan continues to run into trouble. Before her departure, Guzman briefed aldermen that the city could face layoffs if a projected $90 million deficit materializes by year’s end. The city has also been unable to commit to the second half of an advance pension payment because of property tax delays from Cook County.
The aldermanic opposition has countered that Johnson’s administration is sabotaging the budget it passed against his will, particularly the controversial debt sale component. But over the weekend, a new headache emerged: Bally’s Casino paused construction on nearly all non-gaming amenities at its $1.7 billion casino complex going up in River West.
The Rhode Island-based company contends that legalizing video gambling terminals in Chicago as part of this year’s budget violates the 2022 host agreement between Bally’s an the city to build the permanent casino and amenities.
“Well, the concerns that Bally’s has were the concerns that I had,” Johnson said. “So this is, quite frankly, it was expected. In terms of how we move forward, I’ve made this very clear: that I’m prepared and willing to work with City Council members along with Bally’s to make sure that this development and the revenue from this development … that those resources are not threatened.”
