Devon County Council said: ""The key aim of the review is to reduce the operating deficit so more can be invested in traffic and transport projects.
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The prospect of lower revenues would be expected to result in an operating deficit at our current level of expenses in the first half of 2013.
When I wrote my piece on SEC finances awhile back, one AD told me they only pull enough from their athletic foundation to cover their operating deficit.
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Now, Mr Batey, a China-based business consultant, has stepped in with an offer to cover the "operating deficit of Arundells" while a "serious business plan is prepared and a major fund-raising campaign launched".
One such issue I can address is the problem of operating a budget deficit.
The venture represents a gamble for the ballet company, which is operating at a deficit with a plan to balance its budget by 2015.
In July, the state said it would close the district at the end of the current school year, for consistently poor academic performance at its schools and operating a budget deficit for four consecutive years.
As it stands, the incoming government is operating at a severe deficit.
Like many cities, San Jose is operating at a substantial budget deficit, exacerbated by highly visible pension obligations to retired public safety personnel.
The Treasury thinks that much of this year's deficit is because the economy is operating below capacity.
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It's the actual deficit adjusted for how close the economy is to operating at full potential.
"But even assuming tight spending limits and a sharp rebound in revenues, this would still leave a deficit of around 2 percent of GDP with the economy operating at full capacity, " he said.
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