Glossary
Outlay
As the U.S. Department of the Treasury, Bureau of the Fiscal Service defines it, in the words of its USAspending glossary.
Official definition
Payments made to liquidate an obligation (other than the repayment of debt principal or other disbursements that are “means of financing” transactions). Outlays generally are equal to cash disbursements but also are recorded for cash-equivalent transactions, such as the issuance of debentures to pay insurance claims, and in a few cases are recorded on an accrual basis such as interest on public issues of the public debt. Outlays are the measure of Government spending.
(defined in OMB Circular A-11)
In plain language
An outlay occurs when federal money is actually paid out, not just promised to be paid ("obligated").
On this site
Treasury reports $6.8 trillion in outlays for the fiscal year to date through August 31, 2026. See the figures →
Every term: the glossary. The hub: Federal spending.
Sources
- USAspending glossary — U.S. Department of the Treasury, Bureau of the Fiscal Service · retrieved September 26, 2026
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