Unfunded


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Related to Unfunded: Unfunded debt, unfounded, Unfunded Pension

Unfunded

Describing any liability or other expense that does not have savings or investments set aside to pay it. That is, the party responsible for paying an unfunded liability pays for it out of current income or by borrowing. The risk of an unfunded liability is that a payee may not receive that which he/she is entitled to if the payer goes through a difficult financial period. It also increases the payer's current liabilities.
References in periodicals archive ?
Annual cost and unfunded liability costs recognizing the adoption of Section
According to the NIER's assessment, there will be a margin for unfunded measures totalling SEK 21 billion in 2013-2016.
Of course, this would mean the state would continue to report an unfunded liability for years to come, but it would not continue to grow with the addition of new employees.
College officials have estimated that 65 of the 72 California community college districts have unfunded liabilities.
Tom Davis (R-Virginia), who is currently chairman of the House Committee on Government Reform, was also instrumental in the legislation's passage, and continues to play an essential role in the area of unfunded mandate reform.
If faced with an unfunded trust situation, it's essential to educate your clients about the problems they face and insist that funding be done as soon as possible.
Only one month ago, Dirk Kempthorne, the Republican governor of Idaho, spoke before the assembled delegates at our Congressional City Conference about the importance of the federal government abiding by the provisions of the Unfunded Mandates Act of 1995.
2) The basic thrust of these rules in unfunded situations was:
The finance area must rely on financial aid to spend restricted funds rather than unfunded monies whenever possible, thus limiting unfunded expenditures, but matching students to specific endowed funds is time consuming and has the potential to delay the timely delivery of aid packages to students.
As the 7 per cent was not achieved in 2000, 2001 and 2002, the reserves have been exhausted and an unfunded liability generated.
The plan constitutes an unfunded and unsecured promise to pay money or property in the future.
More than half of New Hampshire's school districts oppose yet another unfunded mandate from the feds.