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Lincoln have released financial information to their shareholders showing that the club lost nearly £200,000 in the year to the end of June 2010.
The £199,257 loss means the Imps now have over £3.4million of debt on their books, with that figure likely to increase if their current on-field woes continue.
The accounts cite a change of management, falling gates, and a lack of investment for the loss - all things that have already occured this term - and that the losses were only stemmed by an FA Cup run and subsequent TV money.
The Imps disposed of Northwich on TV last season before travelling to Bolton for a Third Round game, with the hopes of a similar financial boost pinned on facing the Bulls in a week for a shot at a big draw, while gates at Sincil Bank are down by 17% so far this season.
