Following a meeting of the FA's restructured executive board - now jointly headed up by David Davies and Nic Coward - it came to light that a shortfall believed to be in the region of £40million ($63.2m/EUR63m) will see a number of projects put on the shelf.
A sub-committee is being set up to oversee a more detailed examination of the FA's finances but the concerns have already cast a shadow over the future of training facility the National Football Centre at Burton-on-Trent.
Said the FA's marketing director Paul Barber: "We want to make sure that over the course of the next few weeks, the board takes the time to look at the money we've got coming, look at the commitments we have already made elsewhere and make sure the FA can afford it."
The potential demise of the training centre could well save the £750m ($1.19bn/EUR1.2bn)plan to build a new national stadium at Wembley with many of the FA's board believed to view the hugely expensive project as too far down the line to turn back now.
Barber commented: "We have previously committed to Wembley and that is unaffected by the review that's taken place or any discussions that may take place in the future."
The financial concerns surrounding the FA will do little to ease the concerns of the governing body's major sponsors who are growing increasingly edgy following the departure of Crozier - the man responsible for the new commercial structure at the FA.
The English Football Association is struggling to match the financial demands of a number of initiatives set up by deposed chief executive Adam Crozier, according to media reports.
