The Imps reported a financial loss of £66,818 for the year to June 2009 during their annual general meeting at Sincil Bank on Thursday.
However turnover was almost £2.77 million, an marked increase of more than £200,000 on the previous year.
These figures also do not take into account the transfer of Dany N'Guessan, which was agreed after June, and therefore the loss could be seen as even less then it is.
Chairman Steff Wright told local radio: "It's not a big loss and much of it is depreciation of assets. It's not bad at all and certainly much better than a lot of clubs in League Two and other divisions."
"The most important thing is to keep a stable financial foundation so the manager can work knowing he's got a budget, that he won't be fighting any financial fires and he can get on with his job." added Steff.
Wright did stress that off the field we certainly seem to be on a firm footing, but success on the pitch is crucial to future growth as a club.
"We've got the finances right, we've got the facilities right and if Chris Sutton can get the team performing in the way he wants then we will get the success we're all working for."