Columbus City Auditor Megan Kilgore is resigning to take a job in the private sector, just five months after voters re-elected her.
Kilgore, 43, submitted her letter of resignation Tuesday morning with Columbus City Council, which will appoint a replacement.
Kilgore said she was recruited for her new position. She did not say which company she would be working for, but she said it has to do with the municipal bond market and that she will be splitting her time between Columbus and New York City.
"A private sector company that is representing a lot of different market participants," Kilgore said.
"There's a great opportunity right now for leadership to move the municipal market forward," Kilgore said.
Cities, libraries and schools all issue bonds to pay for major projects, she said.
"I spend a lot of time in the national circles. I've had the opportunity to do things like testify before the U.S Senate and serve on a number of national boards and committees," Kilgore said. "So I've been very attuned as to what's going on in our public finance ecosystem.
"It's the just the right time. It's the appropriate runway to actually affect some of the change that the market is desiring."
Kilgore said she plans to stay on until May 4. City Council will name an interim replacement.
She said she wants to make the transition as seamless as possible.
"My successor has to be exceptionally skilled in the municipal market," Kilgore said. "My job is to make sure that it is going to be positioned as successfully as possible."
Asked about leaving the position just five months after she was re-elected, Kilgore said, "I never anticipated the timing."
The auditor's office oversees revenue collections, including $1.2 billion annually in income tax. The office also maintains the city’s $5 billion debt portfolio, and oversees the city’s $2.5 billion investment portfolio.
"I think the city has strong financial policies in place," Kilgore said. But she said a lot of cities across the country including Columbus have continued to have levels of spending, especially coming out of COVID, while dealing with tariffs and growing salaries.
Kilgore's salary is $248,345.
Kilgore said that during her time as auditor, she upgraded the office’s technology.
In a statement, Columbus Mayor Andrew Ginther said under Kilgore's leadership the city was able to maintain a AAA bond rating despite the pandemic.
City Council President Shannon Hardin said in a statement that Kilgore worked to safeguard taxpayer dollars and set a high standard for ethical and forward-thinking leadership.
Kilgore was first elected as auditor in November 2017, taking office on Jan. 1, 2018. Kilgore replaced long-time auditor Hugh Dorrian, who served 48 years on the job from his appointment in September 1969 to his retirement in December 2017. Dorrian died in February at the age of 90.
Before she was elected, Kilgore was a municipal advisor with H.J. Humbaugh and Associates in Columbus. Her practice focused on working with cities, counties, utilities, school districts and economic development districts, helping them with financial transactions.
Kilgore has also been a lecturer at Ohio State University.
