YORK City’s accounts have revealed a £300,000 operating loss for the 2015/16 season when the club dropped out of the Football League.

The figure is £60,000 less than those incurred during the previous campaign when Russ Wilcox steered the club to safety after taking over from Nigel Worthington as manager.

Playing costs were slightly higher during the year ending June 30, 2016, with Wilcox and his successor Jackie McNamara using 42 players – six fewer than has been the case during the campaign that has just been concluded.

Gate and season-ticket receipts, meanwhile, were lower, as the average Bootham Crescent attendance fell from 3,555 to 3,218.

But the club did see an increase in funding from the Football League during their last term as a League Two outfit and also profited from the sale of teenager midfielder Ben Godfrey to Norwich City.

It has also been declared that parent company JM Packaging made a £235,000 donation to the club, with the total money now owed to the Malton-based business, owned by City chairman Jason McGill, amounting to £4.752million.

But, as McGill has agreed to waive the interest he is entitled to when Bootham Crescent is sold and the club move to Monks Cross according to the terms of his 2006 takeover agreement from the Supporters’ Trust, that figure stood at £3.638million last June.

More six-figured losses will have been suffered, though, in the campaign that has just finished, which culminated in relegation despite the Minstermen boasting the National League’s third-highest wage bill and the fourth-biggest average attendance.

Significant financial support from McGill is also expected during the club’s first season of National League North football, where full-time status will be maintained.

Commenting on the accounts, which showed the £300,661 losses, City’s financial management consultant Peter Rookes said: “The support of JM Packaging was again essential in ensuring that the club met the Football League’s Salary Cost Management requirements and, during the financial year, JM Packaging made donations to the club of £235,000.

“As is normal, the accounts show that the major expense for the club was wages. The total income during the financial year was £2,687,724 and playing costs, including player and football management wages, bonuses as well as administration and match-day wages, in total represent around 82 per cent of income, which is an almost identical percentage to 2015.

“This shows how important it is to generate income in order to give the manager the best possible

playing budget. As is customary, the accounts show no salaries or expenses were taken by City’s board of directors."

Adding his thoughts on the club’s financial health and future outlook, Rookes pointed out: “At June 30, 2016, as well as currently, other than normal trading amounts, there is no money owed to any third-party creditors. The income that was expected to be generated by the move to the new Community Stadium has been delayed yet again and, while the club anticipates being able to operate at a break-even budget once the move is complete, for the time being it is reliant on the ongoing support of JM Packaging to be able to operate effectively.

“Following the club’s relegation from the Football League in 2016 and the consequent reduction of Football League funding the board anticipates a further significant funding requirement from JMP in the year ended June 30, 2017 and, if the club is to have a competitive playing budget for 2017/18, further support will be needed again next season.”