Dorrian was appointed Lincoln City chairman in June 2010

Lincoln City have revealed a loss of £200,000 for the last financial year.

The club's board and shareholders are to discuss the deficit at their AGM at Sincil Bank on Thursday.

Chairman Bob Dorrian told BBC Lincolnshire: "It's disappointing, but the scale of the loss is something we can cope with quite readily.

"Other clubs, bigger clubs with more money behind them, have reported losses of more than £1m so we could say we're doing very well at Lincoln City."

Dorrian said much of the deficit came as a result of the sacking of former manager Peter Jackson and his assistant Iffy Onuora in September 2009.

I think there are lessons to be learned from the last two or three seasons Lincoln City chairman Bob Dorrian

"If you look at the pay-off to previous management and the amount of money we had to spend over and above the original playing budget, up to around two-thirds of the loss went on that.

"It proved to me that we need stability at management level. If you keep changing managers every 18 months or so, it's a costly operation and in reality it doesn't move the club further on.

"I think there are lessons to be learned from the last two or three seasons and I'm convinced the way forward is to have stable management."

But Dorrian, who was appointed chairman in June 2010, stressed that the Imps' youth set-up would not be sacrificed to cut costs.

"While the youth set-up at Lincoln is quite expensive to run, over a period of time it pays for itself many times over," he said.

"It is the future of the club, in terms of players we bring through and players we might be able to sell on to bigger clubs."

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