Definitions for "ENTERPRISE FUND"
A fund established to finance and account for the acquisition, operation, and maintenance of governmental facilities and services which are entirely or predominantly self-supporting by user charges; or where the governing body of the governmental unit has decided that periodic determination of revenues earned, expenses incurred, and/or net income is appropriate. Government owned utilities and hospitals are ordinarily accounted for by enterprise funds.
A grouping of activities whose expenditures are wholly or partially offset by revenues collected from consumers in form of fees or charges.
(1) A fund established to account for government operations financed and operated in a manner similar to private business enterprises (e.g., water, gas, and electric utilities; airports; parking garages; or transit systems). In this case the governing body intends that costs (i.e., expenses, including depreciation) of providing goods or services to the general public on a continuing basis be refinanced or recovered primarily through user charges. (2) A fund established because the governing body has decided that periodic determination of revenue earned, expenses incurred, and/or net income is appropriate for capital maintenance, public policy, management control, accountability, or other purposes.