Florida's Turnpike System

Comprehensive Annual Financial Report
22
Finance and planninG
The Chief Financial Officer (CFO) of Florida’s Turnpike is responsible for
safeguarding the assets and financial position of the Enterprise and the protection
of Turnpike bondholders. This is accomplished by sound financial
planning, efficient cash and debt management, as well as accurate accounting
and financial reporting. Within the Office of the CFO, the Financial
Planning section monitors, develops, and manages financial policies,
strategies, and innovative financing techniques which provide the necessary
funding for operations and maintenance, renewal and replacement, and
system improvements. The majority of long-term capital improvements
undertaken by the Turnpike are funded with bond proceeds.
The Turnpike’s new five-year improvement program is comprehensive in
nature with funds reserved for safety, preservation, new capacity and access
projects, as well as AET.
In order to protect motorists from possible water hazards along the
Mainline and the Sawgrass Expressway, the Turnpike will be installing
additional cable barrier systems in Broward, Indian River, Lake, Martin,
Osceola and Sumter counties over the next five years. It is estimated that a
total of 137 miles of canal protection devices will be installed at a total cost
of $31 million during FY 2009 and the upcoming five-year program.
The cable barriers will be installed on the outside shoulders in locations
where canals and other bodies of water run alongside Turnpike facilities.
Incidents where vehicles become submersed in water when deviating from
the roadway are expected to decrease significantly in the future. Additional
canal-protection projects are scheduled beyond the five-year plan in
Okeechobee and Orange Counties.
Cable barriers along canals and bodies of water improve safety for
Turnpike customers