The phrase "significant shortfall" means a big or important deficit or lack. It refers to a situation where there is a substantial gap or shortage in something important. Full definition
Some lawyers are being fooled by these increasingly sophisticated frauds — which often result in significant shortfalls in their trust accounts. (slaw.ca)
Brands Fail to Meet the ANA's Diversity Goals, Too Progress has been strong in CMO gender balance while ethnic diversity continues to face significant shortfalls, according to new research from the Association of National Advertisers and its inaugural CMO scorecard. (toprankblog.com)
Some school districts in Oklahoma may close the fiscal year next week with significant shortfalls because of a power struggle between Republican Gov. Frank Keating and the Democrat - controlled legislature. (edweek.org)