Payments on obligations in the form of cash, checks, the issuance of bonds or notes, or the maturing of interest coupons.
Amount of money actually spent by a federal agency from funds provided by Congress in a given year, including unspent sums that were approved in prior fiscal years.
Outlays are the measure of Government spending. They are payments to liquidate obligations (other than the repayment of debt), net of refunds and offsetting collections. Outlays generally are recorded on a cash basis, but also include cash-equivalent transactions, the subsidy cost of direct loans and loan guarantees, and interest accrued on public issues of Treasury debt.
Spending made to pay a federal obligation. Outlays may pay for obligations incurred in previous fiscal years or in the current year; therefore, they flow in part from unexpended balances of prior-year budget authority and in part from budget authority provided for the current year. For most categories of spending, outlays are recorded when payments are made or when cash is disbursed from the Treasury. However, outlays for interest on the public debt are recorded when the interest is earned, and outlays for direct loans and loan guarantees (since credit reform) reflect estimated subsidy costs instead of cash transactions. See budget authority, credit subsidy, debt, and fiscal year.
Checks issued or other payments made by the government for goods and services received. Gross outlays are equal to the cumulative amount of disbursements made for the fiscal period to date. Net outlays are equal to gross outlays less the cumulative amount of collections received for the fiscal period to date.
Obligations are generally liquidated when checks are issued or cash disbursed. Such payments are called outlays. In lieu of the issuance of checks, obligations also may be liquidated (and outlays may occur) by the maturing of interest coupons in the case of some bonds, or by the issuance of bonds or notes (or increases in the redemption value of bonds outstanding). With respect to the Federal budget, outlays during a fiscal year may be for payment of obligations incurred in prior years (prior-year outlays) or in the same year. Outlays, therefore, flow in part from unspent balances of prior year budget authority and in part from budget authority provided for the year in which the money is spent.
The paying out of cash; the incurring of the liability to pay cash; or the issue of a corporate equity for the transfer of property in exchange for goods or services.
In the budget context, outlays measure the economic activity of government. In particular, it measures the net cost of providing government goods and services. Payments from the Consolidated Revenue Fund (appropriations) are adjusted to drive outlays. These adjustments include: payments not regarded as outlays (for example loan repayments and tax refunds); receipts that are offset within outlays - these are charges for goods and services, sales of physical assets and repayments of governments loans or repayment of equity in government enterprises: trust fund transactions regarded as outlays.
Outlays are the amount of money the government actually spends in a given fiscal year.
Net disbursements (cash payments in excess of cash receipts) for administrative expenses and for loans and related costs and expenses (e.g., gross disbursements for loans and expenses minus loan repayments, interest and fee income collected, and reimbursements received for services performed for other agencies).
Spending to fulfill a federal obligation, generally by issuing a check or disbursing cash. Unlike outlays for other categories of spending, outlays for interest on the public debt are counted when the interest is earned, not when it is paid. Outlays may be for payment of obligations incurred in previous fiscal years or in the same year. Outlays, therefore, flow in part from unexpended balances of prior year budget authority and in part from budget authority provided for the current year.
Actual government spending, including cash outlays for specific programs, direct payments to individuals (such as Social Security), and interest on the federal debt.
Expenditures made to fulfill a federal obligation, generally by issuing a check or making an electronic transfer of funds, but sometimes by issuing a binding IOU. Offsetting collections, including offsetting receipts, constitute negative outlays. Outlays may pay for obligations incurred in previous fiscal years or in the current year. Outlays, therefore, flow in part from unexpended balances of prior-year budget authority and in part from budget authority provided for the current year. Unlike outlays for other categories of spending, outlays for interest on the public debt are counted when the interest is earned, not when it is paid. Also, outlays for direct loans and loan guarantees made since fiscal year 1992 reflect the estimated subsidy costs instead of the cash transactions.