The chief financial officer for the Capital Area Transit System resigned this afternoon.

Gary Owens' resignation comes after an audit showed more than $100,000 of fare box money is unaccounted for.

CATS leaders are turning over the internal investigation of the missing money to the District Attorney's office and the State Legislative Auditor.

The system initially blamed a software glitch, which could mean the money never existed in the first place.

News 2 will have more on this developing story tonight.