The Collaborative International Dictionary of English v.0.48:

Expend \Ex*pend"\, v. t. [imp. & p. p. Expended; p. pr. & vb.
   n. Expending.] [L. expendere, expensum, to weigh out, pay
   out, lay out, lay out; ex out + pendere to weigh. See
   Poise, and cf. Spend.]
   To lay out, apply, or employ in any way; to consume by use;
   to use up or distribute, either in payment or in donations;
   to spend; as, they expend money for food or in charity; to
   expend time labor, and thought; to expend hay in feeding
   cattle, oil in a lamp, water in mechanical operations.
   [1913 Webster]

         If my death might make this island happy . . .
         I would expend it with all willingness.  --Shak.
   [1913 Webster]

WordNet (r) 3.0 (2006):

expending
    n 1: the act of spending money for goods or services [syn:
         expending, expenditure]