Dictionary of Procurement Terms

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  • Enterprise Funds

    A type of proprietary fund used to account for fees charged in exchange for goods and services. Criteria to determine enterprise funds are that they: (1) generate revenue, (2) provide goods or services, or (3) operate as a stand-alone or are self-supporting. Funds that control various utilities such as water, water reclamation, storm water, electric, and other entities providing service financed through user charges.

    See Also: Internal Service fund, Proprietary Funds