{"id":534,"date":"2013-10-03T16:13:24","date_gmt":"2013-10-03T20:13:24","guid":{"rendered":"http:\/\/carleton.ca\/facts\/?page_id=534"},"modified":"2023-01-11T11:44:13","modified_gmt":"2023-01-11T16:44:13","slug":"commitments","status":"publish","type":"page","link":"https:\/\/carleton.ca\/facts\/glossary\/c\/commitments\/","title":{"rendered":"Commitments"},"content":{"rendered":"<h3>What is it?<\/h3>\n<p>Commitments is an accounting term representing a promise or agreement to pay for goods or services.<\/p>\n<h3>Why is this important?<\/h3>\n<p>University financial commitments are contractual in nature and relate to employee salaries (ongoing or contracted) and outside suppliers via purchase orders.\u00a0 These commitments, also known as <a href=\"https:\/\/carleton.ca\/facts\/glossary\/e\/encumbrance\/\" target=\"_blank\" rel=\"noopener noreferrer\">encumbrances<\/a>, are funds that have been set aside or \u201ccommitted\u201d for projected expenses pending actual expenditure of funds.\u00a0 Encumbrances can be for goods\/services that have been authorized but not yet received or for orders of goods\/services that have been received but not yet invoiced.<\/p>\n<h3>Where do I find more information?<\/h3>\n<ul>\n<li>Commitments are displayed on departmental operating statements through <a href=\"https:\/\/carleton.ca\/facts\/fast-tools-support-training\/finance-reporting\/\" target=\"_blank\" rel=\"noopener noreferrer\">Fast Finance Reporting<\/a>.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>What is it? Commitments is an accounting term representing a promise or agreement to pay for goods or services. Why is this important? University financial commitments are contractual in nature and relate to employee salaries (ongoing or contracted) and outside suppliers via purchase orders.\u00a0 These commitments, also known as encumbrances, are funds that have been [&hellip;]<\/p>\n","protected":false},"author":6,"featured_media":0,"parent":47,"menu_order":81,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_relevanssi_hide_post":"","_relevanssi_hide_content":"","_relevanssi_pin_for_all":"","_relevanssi_pin_keywords":"","_relevanssi_unpin_keywords":"","_relevanssi_related_keywords":"","_relevanssi_related_include_ids":"","_relevanssi_related_exclude_ids":"","_relevanssi_related_no_append":"","_relevanssi_related_not_related":"","_relevanssi_related_posts":"","_relevanssi_noindex_reason":"","_mi_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":"","_links_to":"","_links_to_target":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.2 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Commitments - Financial Administration Community Training &amp; Solutions<\/title>\n<meta name=\"description\" content=\"What is it? 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