Fort Worth financial officer departs for NTTA

Posted Wednesday, May. 01, 2013  comments  Print Reprints
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An official widely credited with guiding Fort Worth through a tough budgetary time and building a five-year financial forecast is leaving the city to take a similar job with the North Texas Tollway Authority.

Horatio Porter, Fort Worth chief financial officer, turned in his resignation this week. He will become chief financial officer of the tollway authority in the next few weeks.

“The city of Fort Worth is a great organization with a lot of great things going on,” Porter told the Star-Telegram in a phone interview. “The opportunity at NTTA provides a chance to singularly focus on transportation, and transportation alone.”

The job comes at a time of tremendous growth at the tollway authority, which is based in Plano. The agency has built numerous big-dollar projects in North Texas, including the Chisholm Trail Parkway toll road that is currently under construction from downtown Fort Worth to Plano and scheduled to open next year.

The tollway authority is servicing about $9.3 billion worth of debt, even as it looks to build even more projects, including Texas 360 from Arlington to Mansfield, in partnerships with agencies such as the Texas Department of Transportation.

Porter was the city’s budget officer since 2009, and earlier this year was also promoted to chief financial officer. Under Porter, the city combined its budget, capital projects, treasury, purchasing, risk management, accounting and financial systems.

He won accolades from Mayor Betsy Price and council members for his deft handling of tight budgets, and construction of a five-year financial forecast.

Porter’s annual salary was $155,000 at the city. His new salary at the tollway authority will be $195,000.

Porter is replacing Janice Davis, the tollway authority’s longtime financial expert. Davis was moved to a new position - assistant executive director of strategic and innovative solutions - after an outside report recommended sweeping organizational changes.

Davis has continued to serve in the role of interim chief financial officer until the tollway authority could find a replacement.

As chief financial officer, Porter will also carry the title of assistant executive director, tollway authority spokesman Michael Rey said. Porter will report directly to the tollway authority’s chief executive officer, Gerry Carrigan.

Porter is a certified public accountant and Texas Christian University graduate, with a bachelor’s degree in accounting and master’s degree in finance.

Gordon Dickson, 817-390-7796 Twitter: @gdickson

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