Outlay (CongressionalGlossary.com)

From the Congressional Glossary – Including Legislative and Budget Terms

Outlay

Non
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Outlays are payments made (generally through the issuance of checks or disbursement of cash) to liquidate obligations.

The issuance of checks, disbursement of cash, or electronic transfer of funds made to liquidate a federal obligation. Outlays also occur when interest on the Treasury debt held by the public accrues and when the government issues bonds, notes, debentures, monetary credits, or other cash-equivalent instruments in order to liquidate obligations. Also, under credit reform, the credit subsidy cost is recorded as an outlay when a direct or guaranteed loan is disbursed. An outlay is not recorded for repayment of debt principal, disbursements to the public by federal credit programs for direct loan obligations and loan guarantee commitments made in fiscal year 1992 or later, disbursements from deposit funds, and refunds of receipts that result from overpayments.

Outlays during a fiscal year may be for payment of obligations incurred in prior years (prior-year obligations) or in the same year. Outlays, therefore, flow in part from unexpended balances of prior-year budgetary resources and in part from budgetary resources provided for the year in which the money is spent.

Outlays are stated both gross and net of offsetting collections. (See Offsetting Collections under Collections.) Total government outlays include outlays of off-budget federal entities.

See also

 


Discretionary and mandatory outlays of the US Federal Government

 

More

 
 


Expenditures Versus Expenses | Governmental Accounting | CPA exam FAR

 
 

Courses

 
 

Publications


The Federal Budget Process 2E

The Federal Budget Process 2E


Pocket Constitution

Pocket Constitution


Citizen's Handbook to Influencing Elected Officials

Citizen’s Handbook to Influencing Elected Officials: A Guide for Citizen Lobbyists and Grassroots Advocates


Congressional Procedure

Congressional Procedure

 
 

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