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What does underspent mean?

Looking for the meaning or definition of the word underspent? Here's what it means.

Verb
  1. simple past tense and past participle of underspend
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Examples
Some departments, including radiology, finance and surgery, underspent, which offset some of the higher costing areas.
The department has over the years underspent its budget, resulting in the unspent funds being rolled over and taken over by the Treasury.
In previous years we have underspent and have urged people to go out and spend the money.
The report reveals that in several winters before 2001, the budget was underspent because of a series of mild winters.
Why, then, have universities and colleges, with a few exceptions, consistently underspent?
It is therefore incorrect to say the Department of Education underspent, because at present there is no weak expenditure on the part the department.

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