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2019 Nevada Revised Statutes
Chapter 354 - Local Financial Administration
NRS 354.520 - “Expenditure” defined.
Universal Citation: NV Rev Stat § 354.520 (2019)
1. “Expenditure” means:
(a) If the accounting records are kept on the modified accrual basis, the cost of goods delivered or services rendered, whether paid or unpaid. Expenditures are recognized in the accounting period in which the fund liability is incurred, if measurable, except for unmatured interest on general long-term liabilities which should be recognized when due.
(b) If accounts are kept on the cash basis, only cash disbursements for the purposes listed in paragraph (a).
2. Encumbrances are not considered expenditures.
(Added to NRS by 1965, 728; A 1981, 1762; 2001, 1797)
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