unfunded
unfunded definition - business
unfunded
- Describing a financial obligation for which no money is available. For example, a pension plan is unfunded when benefits are paid only from current contributions.
- Of or being a government mandate unaccompanied by the necessary funds to accomplish the mandate. For example, the state requires that all school systems offer prekindergarten, but fails to allocate any funds to compensate the systems for additional classrooms or teachers that are required.
The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.
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