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Deficiency

The amount by which a project's cash flow is not adequate to meet debt service.

Deficiency

1. The amount by which cash flow falls short of debt service. For example, if a company has $300,000 in current liabilities and only $250,000 in cash flow for a given year, its deficiency is $50,000.

2. In taxation, the amount by which one's tax liability exceeds what the individual person or organization reported. For example, if the IRS disallows certain deductions that the taxpayer applied, he/she will owe more in taxes than he/she reported on the return. Deficiency is the amount this taxpayer still owes to the IRS.

deficiency

1. The amount by which an individual's or an organization's tax liability as computed by the Internal Revenue Service exceeds the tax liability reported by the taxpayer.
2. The amount by which a firm's liabilities exceed assets.

deficiency

The amount due on a mortgage loan after adding all expenses of foreclosure and accrued interest to the principal balance of the loan and then deducting the sale price or lender-bid price for the property. The balance remaining, if any, may be collected by the lender by means of taking a deficiency judgment, unless prohibited by law or contract. Deficiency judgments may be collected just like any other judgment, through seizure of other assets or garnishment. There are two circumstances when a lender may not collect any deficiency:

1. In states with consumer protection statutes that outlaw deficiencies on first mortgages on a borrower's principal residence.

2. With mortgage loans designated as nonrecourse, meaning the lender and borrower agreed in advance that the property would stand for the debt and there would be no deficiency allowed in the event of foreclosure.

References in periodicals archive ?
9 percent were considered deficient, followed by Hillsborough (47 of 550 bridges, or 8.
A bridge is classified as structurally deficient and in need of repair if its overall rating is four or below.
Maryland has an aggressive inspection program that has resulted in one of the lowest number of structurally deficient bridges in the country.
David Llewellyn at the University of Exeter Medical School found that study participants who were severely vitamin D deficient were more than twice as likely to develop dementia and Alzheimer's disease.
According to Affinity Biologicals, “The VisuDep-F Frozen Factor VIII Deficient Plasma is intended for use as a substrate plasma in the quantitative determination of Factor VIII activity in citrated plasmas using a clot-based assay.
2009) In vivo kinematics of anterior cruciate ligament deficient knees during pivot and squat activities.
One in nine Massachusetts bridges is structurally deficient and needs repairs, according to a new study released yesterday.
In the study, published in the April 30 issue of the New England Journal of Medicine, researchers measured vitamin D levels in 42 people being treated in an ICU and found almost half were vitamin D deficient.
As context for understanding GAO's findings on the HBP, based on information gathered during bridge inspections that are generally conducted every 2 years, the HBP classifies bridge conditions as deficient or not; assigns each bridge a sufficiency rating reflecting its structural adequacy, safety, serviceability, and relative importance for public use; and uses that information to distribute funding to states to improve bridges.
The initiative would provide dedicated funding to states to repair, rehabilitate and replace structurally deficient bridges on the National Highway System (NHS).
I'm referring to the standard one pound handling fee if an item is to be delivered with deficient postage.

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