New Fiscal Administrator Appointed for Richwood

On Friday, a Ouachita Parish Judge selected Jonald Walker as Richwood's new Fiscal Administrator.
MONROE -- In a Ouachita Parish courtroom on Friday, the state argued that Richwood has failed to service a debt for at least a 6-month period from June 2012 to February 2013.

According to evidence presented, the town's expenditures exceeded its revenue. Jonald Walker and company was appointed as the town's fiscal administrator based on a recommendation by state attorneys.

Town officials expressed concerns about incurring the costs of hiring Walker at $125 an hour.

"We did not want him to come," said Simeon Profit, Richwood Alderperson. "But the judge did appoint him. So, we're going to have to work with him. And i'm looking forward to working with him."

"This was the best move that the town made is to reach out for help to get some assistance and help turn the town around," said Alvin Jackson, Richwood Mayor.

According to the legislative auditor, Richwood's total debt is $616,000.

In court, Walker he is interested in the town official's plan to correct Richwood's finances. The mayor thinks the fiscal administrator could find more revenue for richwood and possibly more funds from the state.

As fiscal administrator, Walker will have the power to approve any town expenditures. Walker will also have firing authority.

The court ordered Walker provide an initial report of his findings within 90 days. He will also have to provide periodic quarterly progress reports.
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