Sentences with phrase «future operating deficits»
At the same time that Cooper Union decided not to try to sell the site, it borrowed $ 175 million, using the Chrysler site as collateral, to build a new engineering and art building and «to meet future operating deficits,» as the school acknowledged in court papers seeking permission for the loan.
https://www.nytimes.com/ Not exact matches
A government operating such a deficit at a time when an increasing share of the nation's debt is held by foreigners is effectively concealing from the public the real nature of future burdens.
According to the 2015 report, the district earned the designation — which indicates the district may encounter fiscal issues in the future if the situation remains unchanged — due to an alleged operating deficit and a reserve fund below the levels suggested by the comptroller's office.
The report goes on to explain that the new budget uses borrowing, one - time revenues, and fund transfers to close budget deficits and cover operating expenses and reports that, «By relying on these measures, rather than recurring revenues to close the state's budget gap... state policymakers have opened up a larger revenue hole in future budget years.»