Shreveport looking at audit of financial advisor

Wednesday, October 31, 2012 - 7:54am

Audits are common among companies, and government agencies like the city of Shreveport. But when the city audited their financial advisor, Grigsby and Associates, several red flags were raised. To look deeper into the account, the files were sent to an outside lawyer for further review.

When the report came back from the outside lawyer, the finding were fairly similar to what the city auditor had found. Many of the problems with the account come from the fact that the contract didn't require itemized receipts, which has already been fixed.

With hundreds of thousands of dollars in question, the issue is still under investigation. A meeting on November 13 will go over exactly what was found in the audit.

Neither the city or city council is displeased with the work of Grigsby and Associates, they are just asking that the red flags be looked into, and that record keeping be better managed.

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