noun | \ ˌdē-ˌfal-ˈkā-shən, -ˌfȯl-, di-; ˌde-fəl-ˈkā-shən \ | de·fal·ca·tion
: failure to account for or pay over money that has been entrusted to one's care; also : an instance of such failure — compare embezzle, misappropriate : an instance of such failure — compare embezzle, misappropriate
Note: Defalcation does not necessarily involve culpability or misconduct.
: a failure to meet a promise or expectation the school committee's defalcations did not end with its refusal to submit a desegregation plan —S. L. Lynch