Shrewsbury Town lost £3M last season.
At the end of June last year they had just £81,184 in the bank. One year earlier there was over £1.5M in the account.
Wages rose to £5.2M, up £800,000.
"It is with regret that we have to confirm losses of £3m, with losses of £600k also being restated in the 2022 accounts, this is following total loss of more than £3m over the previous three seasons," said the club in a statement.
Of interest chief executive Brian Caldwell left the club in early May followed by manager Steve Cotterill a month later.
It appears that the board feels the financial situation is stabilising.