There are people who would agree with you @Donna Saverino MI - there's been lots of talk here about "super-cooling" your pond with water flowing from the falls or mixing the warmer water at the bottom with colder water from the top causing stress to fish.
In our case we've found that keeping our pond running all year long works great for us. We have a bit of a different set up as we have no skimmer or mechanical filter. Our pond flows into an underground rainwater harvesting system which we believe is where that necessary gas exchange is able to happen even when the pond is completely iced over. Also, we have a bog filter and the first year after we shut the pond down we were a bit distressed by how bad the pond smelled when we first started it up in the spring - very stagnant and mucky smelling. While it dissipated quickly and didn't appear to harm the fish, it wasn't very pleasant to deal with. Also, when we shut our pond down, because of the way it's constructed, the water level drops about 8-10 inches, leaving all our marginal plants exposed to the air. That first year we lost every single one of our plants. Keeping the pond running keeps the water level high and the plants stay under the ice - we've not lost a single one since.
Every pond is so different - I think it's important to understand how your pond works and do what makes the most sense for you.
In our case we've found that keeping our pond running all year long works great for us. We have a bit of a different set up as we have no skimmer or mechanical filter. Our pond flows into an underground rainwater harvesting system which we believe is where that necessary gas exchange is able to happen even when the pond is completely iced over. Also, we have a bog filter and the first year after we shut the pond down we were a bit distressed by how bad the pond smelled when we first started it up in the spring - very stagnant and mucky smelling. While it dissipated quickly and didn't appear to harm the fish, it wasn't very pleasant to deal with. Also, when we shut our pond down, because of the way it's constructed, the water level drops about 8-10 inches, leaving all our marginal plants exposed to the air. That first year we lost every single one of our plants. Keeping the pond running keeps the water level high and the plants stay under the ice - we've not lost a single one since.
Every pond is so different - I think it's important to understand how your pond works and do what makes the most sense for you.