Meaning of “shortfall” in the English Dictionary

"shortfall" in American English

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shortfallnoun [ C ]

us /ˈʃɔrtˌfɔl/

an amount that is less than what was expected or needed:

The county had to close three of its four libraries because of a budget shortfall.

(Definition of “shortfall” from the Cambridge Academic Content Dictionary © Cambridge University Press)

"shortfall" in Business English

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shortfallnoun [ C ]

uk /ˈʃɔːtfɔːl/ us

the difference between the amount of something, especially money, that you have and the amount that you need:

a shortfall of sth The state is facing a budget shortfall of $1.75 billion for the fiscal year.
a shortfall in sth The organization is grappling with a major shortfall in its final salary pension scheme.
a shortfall on sth I recently received notification of a potential shortfall on my low-cost endowment.
make up/cover/meet a shortfall
a pension/funding/budget shortfall

(Definition of “shortfall” from the Cambridge Business English Dictionary © Cambridge University Press)