Shreveport City Council to vote on financial adviser -- to stay or go...

More than $53,000 in question...

   It's been nearly two years of hashing out issues with financial adviser Calvin Grigsby. 

"I've had issues with the current financial adviser since I was elected to council," city councilman Michael Corbin said. 

Since 2008 Grigsby has been working for the city and seeing it through tough financial times and helping to save millions of dollars. 
However, questions surfaced and last year council hired an outside firm to conduct an audit. 

"We spent more than $100,000 on an audit that turned out he only owed half of that. I don't think that was a wise thing," Mayor Cedric Glover said. 

For some members of council, it's not just about the money. 
Public information indicates Grigsby is not currently registered with the Financial Industry Regulatory Authority, and has legal issues not only in Louisiana but at least three other states. 

With upcoming issues for the city like a second sale of 2011 bonds and water and sewer revenue bonds, careful consideration must be made. 

"He has a multi-year understanding of the issues and knows where our circumstances are," Glover said. 

"I think we have to be sure that we have the best person doing the job and has the trust of the council and the public," Corbin said. 

Council will vote on the issue Friday. 
Page: [[$index + 1]]
comments powered by Disqus

This Just In