Did you know that the City of Piqua has six enterprise funds within its accounts?
The main source of revenue in an enterprise fund is charges for services for the activity of the fund. One example is that payments for electric services go into the Electric Fund. Expenses from enterprise funds are earmarked for use only for that specific purpose, including both day-to-day operating expenses and capital infrastructure.
Each fund operates as an independent account that is separate from the General Fund, which is financed primarily by taxes and is used to support regular operational expenses of the City. Enterprise funds operate like a business account with their own revenues, expenditures, liabilities and assets.
Examples of enterprise funds at the City of Piqua include the Electric, Water and Wastewater funds. Each of these funds operates independently from one another and uses funding from utility payments to build and maintain infrastructure, pay for regular operating expenses and plan for future needs in service to customers.