OVERSPEND

[verb] [past:] overspent - to (cause to) spend more (money) than you shouldThe council seems likely to overspend this year. [I]The hospital refused to give her the expensive treatment she needed because it had already overspent (on) its drugs budget. [T; I + on]We've overspent (on) our budget for decorating the house. [T; I + on]The school is overspent on its book budget.Steps are being taken to curb local government overspending.