How is "cash" defined?

Cash is an expense that will be directly incurred by the proposed initiative. For example, a salaried faculty member spending a portion of his/her time, for which s/he is paid, on a project is considered cash. (If the faculty member is not paid for their time, rather they are donating their time, this is considered in-kind.) Equipment purchased specifically for an initiative may be included in the cash match, whereas equipment already owned may not. Cash need not be from an external source.