An external audit of the financial statements for the North Texas Tollway Authority’s Special Projects System for Fiscal Year 2012 has been completed and submitted to the NTTA Board of Directors.
In April 2011, the NTTA entered into a trust agreement authorizing the Authority to own, design, construct, operate, maintain and finance a turnpike project known as the Special Projects System, which consists of the President George Bush Turnpike Western Extension and the Chisholm Trail Parkway.
The audit was conducted by Crowe Horwath. Their findings concluded that the NTTA Special Projects System’s financial statements are presented fairly and conform to generally accepted accounting principles.
“This audit validates the Authority’s ability maintain and deliver a financially sound and vibrant special projects system,” said NTTA Interim Chief Financial Officer Janice Davis.
The Special Projects System’s Comprehensive Annual Financial Report and the full audit can be read in their entirety on ntta.org. Click here to go directly to the report (opens as a PDF).
About the NTTA
The North Texas Tollway Authority, a political subdivision of the state of Texas, is authorized to acquire, construct, maintain, repair and operate turnpike projects in the north Texas region. The nine-member board is comprised of Chairman Kenneth Barr; Vice Chairman Bill Moore; and Directors David Denison, William D. Elliott, Matrice Ellis-Kirk, Michael Nowels, George "Tex" Quesada, Victor Vandergriff and Jane Willard.
The NTTA serves Collin, Dallas, Denton and Tarrant counties and is responsible for the NTTA System, consisting of the Dallas North Tollway, President George Bush Turnpike, Sam Rayburn Tollway, Addison Airport Toll Tunnel, Lewisville Lake Toll Bridge and the Mountain Creek Lake Bridge. The NTTA is also responsible for the NTTA's Special Projects System, which consists of the President George Bush Turnpike Western Extension and the Chisholm Trail Parkway. The NTTA is able to raise capital for construction projects through the issuance of turnpike revenue bonds. NTTA toll projects are not a part of the state highway system and receive no direct tax funding. Tolls are collected to repay debt and to operate and maintain the roadways. Visit ntta.org.