How much information is required about deficit reduction plans?
How much detail you should provide depends on how long the deficit has existed and how large it is. Your plans to solve a one-time, short-term deficit might be covered by a single paragraph. If you have been operating under a long-term or excessive deficit, please give a detailed and explicit plan covering • how you plan to address the deficit, e.g. special fund raising, raising ticket prices, contributions by board of directors, cuts in programs, reduction of expenditures, etc; and • a time line to stabilize the financial situation.
