disbursement vs outlay

disbursement and outlay both are nouns.

Word	Noun	Adjective	Verb	Adverb
disbursement	Yes	No	No	No
outlay	Yes	No	No	No

As nouns, disbursement and outlay are synonyms defined as:

Other synonyms of disbursement include disbursal, spending.

disbursement (noun)	outlay (noun)
the act of spending or disbursing money	the act of spending or disbursing money
amounts paid for goods and services that may be currently tax deductible (as opposed to capital expenditures)	money paid out; an amount spent