Nev. Rev. Stat. § 354.516
Current through 82nd (2023) Legislative Session Chapter 535 and 34th (2023) Special Session Chapter 1 and 35th (2023) Special Session Chapter 1
"Encumbrances" means commitments related to unperformed contracts for goods or services, the accounting for which is used to ensure effective budgetary control and accountability and to promote effective cash planning and control. For reporting purposes, encumbrances outstanding at a year's end represent the estimated amount of the expenditure ultimately to result if the unperformed contracts existing at the year's end are performed. Encumbrances outstanding at a year's end do not constitute expenditures or liabilities.
NRS 354.516