Grant & Contract Glossary
All monies used in the operation of a budgeted project are Expenditures. Expenditures may include faculty salaries, student compensation, equipment acquisition, travel expenditures or any other activity which can be assigned a dollar value. Expenditures are recorded in the Financial Accounting System under the budget number being charged for the activity. Note: Encumbrances are not expenditures and are recorded to remind PI's of a formal commitment.
