TOWN are paying off another £365,000 of their debt to former players.
The original £1.4m owed through the PFA after administration was reduced to £525,000 last season with the help of cut-price settlements to some of the former squad.
It now stands at £160,000 and, while that's good news, chief executive Andrew Watson warns Town must continue to work hard on increasing income.
Rather than a small profit this season, Town will be nearer the break-even point as average gates in League I are 300 below the 11,900 budgeted for.
The club lost £192,000 last season while gaining promotion through the play-offs.
Mr Watson confirmed Town would not be in the market for six-figure players like Luke Beckett until their debts had been completely cleared and they were generating enough revenue to provide spare cash.
He revealed Ken Davy invested £1m in share capital and loans when rescuing the club in 2003 and that he continues to prop up the finances of both Town and the Giants, who are run as completely separate companies.
"It has cost us almost £400,000 this season in payments to the former players," said Mr Watson.
"In just over a year from now, the debt will be gone altogether. Then we have to build on income streams for spare cash."
Mr Watson refuted allegations that Town are bankrolling the rugby league side, thereby cutting cash available to manager Peter Jackson.
"Town and the Giants are separate companies, each of whom retain and use their own cash to cover costs.
"Make no mistake, though, neither would be here without Ken Davy propping up their losses."
He stressed Jackson still has some cash handy to add to the squad.
Town are continuing talks with the University of Huddersfield to buy their Storthes Hall training base and install new state-of-the-art facilities.
