The city, he said, faced a projected cash shortfall of $91 million.

A potential $50 million cash shortfall was also discussed at the meeting, minutes show, especially if donors default on their pledges.

"We can't predict the impact this will have on their society without knowing how they're going to react to the cash shortfall."

Medicare has been operating with a cash shortfall since 2008.

At a board meeting in June it emerged that the museum had a $20 million cash shortfall.

Because of its own financial problems, Super Steel had cash shortfalls early on during the project.

Still, the cash shortfall might be expected to cast a pall over the company's stock price.

But they also began to impose an annual assessment on farmers to build up a reserve for times of cash shortfall.

If the California agency experienced a cash shortfall, it could borrow against the letters to pay noteholders.

But bank loans alone will not solve the cash shortfall.