YET ANOTHER WARNING OF CITY HALL FINANCIAL DANGERS
Finally. I had just about decided we who care were hopelessly outnumbered.
I don’t know if it matters more to me that KTBS News aired the subject report, or that it turned to local accounting firm Heard, McElroy & Vestal for the underlying financial analysis. Both KTBS ownership and HMV have been key players in our community’s guidance for decades.
Perhaps more to the point, HMV likely knows far more about Shreveport’s finances than its employees do. For that firm to agree to do the work KTBS asked them to do is more than merely notable.
In my opinion, what KTBS has now pronounced is the latest warning that Shreveport’s financial condition is, at best, dodgy. Now, we learn by this report, those dead in the sites of what may happen are retired city employees depending on the pay they were promised.
Given that Shreveport has 15-mills of property tax expiring, it must preserve it, not cash it out on a wish list of “projects,” more than a few of which are seriously questionable.
Yet again we see it and can say it …
… at least four members of our City Council must shut this bond issue down for as long as it takes to find out the facts – the truth – of the City’s financial condition. We cannot take the word of City Hall.
Here is the report by KTBS’ Luana Munoz:
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