from Wiktionary, Creative Commons Attribution/Share-Alike License
- v. To not spend funds appropriated or allocated.
- n. An amount by which an allocated amount is not expended.
from the GNU version of the Collaborative International Dictionary of English
- transitive v. To spend less than.
from The Century Dictionary and Cyclopedia
- To spend less than.
from WordNet 3.0 Copyright 2006 by Princeton University. All rights reserved.
- v. spend at less than the normal rate
- v. spend less than the whole of (a budget, for example)
The financial report presented to Tuesday's meeting pointed out that the term underspend includes both reduced spending and/or increased income.
Oh … and whilst I bang on …. .at my station last week we were told that Area HQ had found £1,000,000 in underspend and we could make a request/application for new equipment.
If the 'underspend' is the result of good practice (ie greater efficiency, smarter use of the money etc.) then there may be an argument for rewarding good practice by encouraging the organisation to use the remainder imaginatively (thus fuelling blue skies etc.) and furthermore if they are lambasted for an 'underspend' then there is no encouragement to either work more efficiently or take care of their budget etc.
It's common practice for organisations with a budget to make sure they use it to the hilt because they know that an 'underspend' will automatically result in a smaller budget the following year.
However, with the headline increases just announced, it will be more difficult to push their "underspend" mantra, when funds are increasing in real terms and Cameron has yet to sanction any increased spending on the forces.
The Europeans "underspend" on defense not just because the American guarantee allowed them to enter a garden of Perpetual Peace,  but because in the third quarter of this century they chose to devote a lot of money to expensive (and very popular) public services.
A one million pound underspend of a 2.2bn pound budget = 0.05% rounded up.
In the email, leaked to the Daily Mail, Cahn said: The FCO is heading for an underspend and wants to get money out of the door.
It will be the third announcement in recent weeks from ministers of extra spending due to an underspend elsewhere.
The email, sent last year by Sir Andrew Cahn, who was then head of the government body UK Trade and Investment UKTI, told colleagues that the Foreign Office, which funds it, was "heading for an underspend" and urged them to come up with ways of spending the cash.