Members of the Shreveport City Council are calling for an investigation into the city’s finances.
Shreveport City Council members will decide on a resolution authorizing the audit committee to investigate the City of Shreveport’s finance department.
The resolution outlines, the city’s external auditor advised members of the council to expect an extensive number of deficiencies on the 2018 audit.
According to the resolution:
-In 2018 the City of Shreveport incurred substantial tax penalties for failing to timely file quarterly payroll tax returns with the Louisiana Department of Revenue.
-One of the banks used by the city, that had more than fifteen million dollars of city funds on deposit, was not required to secure that deposit with federal deposit insurance or the pledge of securities owned by the bank, as required by Revised Statues 39:1217 through 39:1245, which inaction exposed the city to the risk of losing those funds.
-The city did not properly reconcile its operating and payroll bank accounts on an ongoing basis.
Councilman John Nickelson says, “As a member of the council, when an external auditor comes to me and says you’re not filing your taxes on time, you’re not balancing your operating payroll accounts, I just think we need to act.”
Council members James Flurry, John Nickelson, Grayson Boucher and Levette Fuller are the authors of the resolution asking for an investigation.
Flurry say, “What we want to do is, this not to happen again. That’s all we’re after. We’re not trying to fire nobody, although the mayor may do that once we give him the facts.”
A vote is expected tomorrow.