Charges incurred, whether paid or unpaid, that are presumed to benefit the current fiscal year. For elementary/secondary schools, these include all charges for current outlays plus capital outlays and interest on school debt. For postsecondary institutions, these include current outlays plus capital outlays. For government, these include charges net of recoveries and other correcting transactions, other than retirement of debt, investment in securities, extension of credit, or as agency transactions. Also, government expenditures include only external transactions, such as the provision of prerequisites or other payments in kind. Aggregates for groups of governments exclude intergovernmental transactions among the governments.
Decreases in net spendable resources; these include current operating expenses that require current or future use of net current assets, payments toward the retirement of general long term debt, and outlays for long term assets.