Despite hopes that Hereford United had made another reasonable profit last season, the club has said that it made just £8,000 in the year to May 2006.
In his weekly column in the Hereford Times, manager Graham Turner revealed the figures which suggest that the cost of promotion was higher than generally realised.
Gate reciepts were down by £80,000, transfer income down £50,000 and wages up by £140,000.