expenditure vs disbursement

expenditure and disbursement both are nouns.

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

As nouns, disbursement is a hypernym of expenditure; that is, disbursement is a word with a broader meaning than expenditure:

Other hypernyms of expenditure include disbursal, outlay, spending.

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