The government submitted guarantees to cover any potential shortfall.

This would amount to a potential shortfall of around £20,000 for every household in the country - annually.

The city still faces billions of dollars in potential budgetary shortfalls in the next few years.

It found a potential shortfall of $55 million next year and $208 million by 2005.

To cover the potential shortfall in ticket revenues, Gillinson reduced the marketing budget by some $190,000.

Officials familiar with the discussions said the potential shortfall in this year's budget could reach $800 million to $1 billion.

Cuomo aides said the statements were the first to quantify the potential shortfall.

Projections for next year show the potential shortfall to be at least $1 billion.

At a public appearance on Thursday, he said the state faced a potential $2 billion shortfall this fiscal year.

The Senate only grudgingly accepts the seriousness of the potential shortfall.