Pay-As-You-Go


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Pay-As-You-Go

The practice of a government agency funding new projects with money it has on hand from previous appropriations. That is, pay-as-you-go financing requires a government to save to pay for a project for which it does not receive a specific appropriation. The intent behind pay-as-you-go is to encourage responsible spending by a government. This is related to, but distinct from, paygo rules in the United States.
References in periodicals archive ?
Rabbi trusts"--Putting money into an irrevocable trust protects employees against a refusal to pay--a big advantage over pay-as-you-go programs.
Schieber: First of all, we ran the system purely as a pay-as-you-go system until the early 1980s, when we passed the '83 amendments.