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English definition of “overspend”

overspend

verb [I or T] uk   /ˌəʊ.vəˈspend/ us    /ˌoʊ.vɚ-/ (overspent, overspent)
to spend more money than you should: The council seems likely to overspend this year. The hospital has already overspent (on) its drugs budget.
overspending
noun [U] uk   /-ˈspen.dɪŋ/ us  

overspend

noun [S] uk     /ˌəʊ.vəˈspend/ us      /ˌoʊ.vɚ-/ /ˈəʊ.və.spend/  /ˈoʊ.vɚ-/ UK
an amount of extra money that is spent on something above the amount that should have been spent: We're expecting to have a £5 million (budget) overspend this year.
(Definition of overspend from the Cambridge Advanced Learners Dictionary & Thesaurus © Cambridge University Press)
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