York City are expecting to suffer a "significant" operating loss for the 2009/10 season.

The club appeared at Wembley in the Blue Square Premier play-off final and reached the third round of the FA Cup.

But a statement on the club website said: "The financial position remains the same as in previous recent seasons.

"The club is likely to make a significant operating loss this year, but continues to be supported by parent company J M Packaging Ltd."

The statement continued: "In order to reduce costs , which is essential, York City has been forced to make two redundancies recently as part of a review of operations.

"Other cost reducing measures which have been implemented this season include new stewarding arrangements and the outside management of the Social Club, now the Pitchside Bar.

We have tried to maintain a healthy playing budget in order to give us the best chance of on-pitch success Sophie Hicks

"York City continues to work hard to increase commercial revenue, though this is a difficult task in the current economic climate."

The Blue Square Bet Premier Club have been without a manager since Martin Foyle resigned towards the end of September.

York are currently 16th in the table and have lost their last three games.

Communications director Sophie Hicks said: "Due to the current economic climate, like a lot of other businesses, we have been forced to look at cost reductions at the club for the long term benefit of York City.

"We have tried to maintain a healthy playing budget in order to give us the best chance of on-pitch success and we are now looking forward to the arrival of a new manager to make this happen."

The club have announced the appointment of former trust board member Peter Rookes as the club's financial management consultant.

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