Shreveport Mayor defends financial advisor - KSLA News 12 Shreveport, Louisiana News Weather & Sports

Shreveport Mayor defends financial advisor


As the world brings in a New Year, Shreveport's City Council will be dealing with some old issues in 2014.

City Council members and the Mayor are still not seeing "eye to eye" about the current Financial Advisor. 

The current Financial Advisor, Grigsby and Associates, is accused of owing the city $53,000 in overcharges, that money was placed in an escrow account. 

Recently, the council voted down a resolution that would have allowed the city to continue to work with the company. 

Mayor Cedric Glover says he stands behind the work Grigsby and Associates' done in the past 5 years. 

"He has done work that has saved the City of Shreveport money and has strengthened our fiscal position, it's here, it's clear and it is documented," says Glover. 

In 2012, the city council performed an internal and external audit into the company's records. 

The mayor says these investigations did not reveal anything unethical or illegal by the company. 

He does, however, point to a group of council members he says have a "specific agenda."

"Who has been challenged twice by his government and managed to not cut a deal, to not acquiesce, to not back down, but to unequivocally state, I did not do this," says Glover. 

Mayor Glover did not want to comment when we asked him whether this issue deals with the race of the Financial Advisor, but Calvin Grigsby did. 

In an email to KSLA News 12 he wrote, 

"The council has some other motive in trying to force the Mayor to pick a white FA. We are the only Black owned firm that has been sole FA in the history of the state of Louisiana per securities data."

The mayor did tell us he plans on speaking with the city council members before the January 14th meeting to try to come to a resolution. 

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