An external audit conducted by an out-of-town law firm found that the city may have paid more than $677,000 in questionable charges to the financial adviser firm that handles the city's bond deals.

The investigation "revealed three major problems regarding payments made to Grigsby & Associates: 1) Grigsby & Associates failed to maintain and provide adequate documentation of its services to justify payment by the City, 2.) Grigsby & Associates billed for services that may not have been compliant with the Contract, and 3) some payments to Grigsby & Associates were not properly approved."

"Not to say that anything was done wrong yet," said District D Councilman Michael Corbin. "We're still in that investigative process. But there was a lot of money that flowed through this and we want to make sure that everything was done right. And if not, we need to take whatever actions are necessary."

The report recommended that the city request full and adequate records explaining the billing. It suggested that if Grigsby and Associates fail to provide the documents the city should seek full reimbursement.

The external audit was ordered by the council in January after an internal audit also found some billing discrepancies. The council hired Laborde & Neuner, a law firm in Lafayette, to conduct the investigation. $70,000 was approved to fund the audit.

Both Caddo Parish District Attorney Charles Scott and Caddo Sheriff Steve Prator have received copies of the audit. Prator told KTBS that an investigator would review the documents to determine if any action needed to be taken.