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Enterprise Fund Debt
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Four Pleasant Prairie Utilities and the Recreation Division are operated as “enterprise funds.” Village enterprise funds receive income from: fees charged for services provided, loans, grants, the resale of capital equipment and donations. This income is then used to cover operating expenses, large capital purchases or improvements, and to pay down debt for their particular enterprise. Property tax dollars do not pay for enterprise fund expenses or debt. Any debt incurred by one of the Enterprise Funds listed above is paid for by the income collected for services provided, not property tax dollars.
WILL FUNDS BE BORROWED DURING 2008?
The 2008 budget process has been completed for the four utilities that operate as enterprise funds: Water, Sewer, Solid Waste and Clean Water. Though each of these utilities has plans for major projects in 2008, none will need to borrow funds in 2008 to complete these projects. In addition, your 2008 utility rates will remain the same as your 2007 utility rates. The Recreation enterprise fund (RecPlex) is in the final stages of the budgeting process and currently does not have plans to borrow funds.