Caley Thistle manager John Robertson insists they are still targeting promotion despite cutbacks at the club.
Inverness are aiming to improve their balance sheet, having posted a loss of £892,000 for the year ended May 2019 in their most recent accounts released at the tail end of last year.
Caley Jags are exploring new ways to raise revenues, with the club looking to organise new concert dates at Caledonian Stadium next summer.
That followed the cancellation of two scheduled events due to the coronavirus pandemic, which chief executive Scot Gardiner estimates saw the club miss out on almost £200,000.
Robertson says the pressure to keep the Highlanders in contention for a return to the top-flight remains.
He said: “From day one coming in here, the long-term part of the job was to get the club down to a sustainable level.
“We have done that, we got over £1 million off the wages originally.
“We are hopeful this year the losses will be even lower and getting close towards breaking even. That’s the plan.
“On that aspect, whilst we still need to cut costs and become a self-sufficient club, there’s a need to continue to compete at the top of the league.
“We want to get back up, the aim is to get back up, but we had to do that from a stringent plan to get the club being able to afford what they could.
“For too many years we have been losing too much money, and if it wasn’t for board members and chairmen we would have struggled. We need to address that.”
Robertson says the financial implications of Covid-19 forced Inverness to part ways with players who would have otherwise been kept, with defender Carl Tremarco and midfielder Charlie Trafford among those to be released, and Tom Walsh turning down a new deal to join Ayr United.
Robertson added: “Like every club it has been a major hit to finances, so we had to look at what we could afford to do.
“We had to allow some players to leave that would we would have liked to have kept.
“We still wanted to keep some players, but they decided to leave.”