Expenditure Approval
/ɪkˈspɛn.dɪ.tʃər əˈpruː.vəl/
Definitions
- (n.) Formal authorization granted, typically within organizations or governmental bodies, to incur expenses or disburse funds for specified purposes.
The project cannot proceed until expenditure approval is secured from the finance committee.
- (n.) The legal or procedural process by which budgeted expenses are reviewed and ratified to ensure compliance with applicable regulations and policies.
Expenditure approval requirements vary depending on the jurisdiction and the contractual framework.
Forms
- expenditure approval
Related terms
See also
Commentary
Expenditure approval is a critical compliance step in both public and private sectors to control and legitimize the use of funds; legal drafts should specify the authority and scope of approval required.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.