Speaking the morning after he was re-elected to the North Melbourne board, Brayshaw criticised a report in Thursday morning's The Age newspaper that said the club had just $2749 to its name when it filed its annual report on October 31 last year.
Brayshaw said that figure was released during a brief flow in expenditure.
"Every single business in the world, let alone football clubs and non for profit organisations draw down every month. Ten days after there was $2600 in that account, there was $1.05 million," Brayshaw told Triple M on Thursday morning.
"That happens every month at a footy club because money comes in and then you draw down. You've got to pay your players, you've got to pay your staff. There are a thousand things you've got to do every month. It's like the workings of a credit card."
Brayshaw took a thinly-veiled swipe at The Age after several recent reports and columns criticising his tenure at North Melbourne.
"To pick out that isolated figure and not turn around and say 'oh, by the way, a week later there was over a million bucks in this exact same account' is just part of this frightening agenda some of our friends seem to think they need to drive," he said.
"Your balance sheet fluctuates dramatically at a footy club. Everyone's does."
North Melbourne CEO Eugene Arocca also took to the radio airwaves to hose down reports of the club's plight.
He said the Kangaroos had increased expenditure in the football department by more than $3 million since making the decision not to move to the Gold Coast in 2007.
"We could have pocketed that money and maybe had a million dollars in the bank account on the 31st of October 2010, but we see, as does Richmond, that the long term recovery of any football club off-field is generally tied to on-field success," Arocca told SEN.
Arocca said the club was not looking at introducing a debt demolition, similar to what has been used by Melbourne and more recently Richmond.
"As far as debt demolition is concerned … we've just come out of a global financial crisis, there have been floods, there have been fires and people have had to donate money which is part of the Australian ethos," Arocca said.
"We have committed to stabilising this business, which we reckon we've done, and now we're going to look at trying to reduce our debt so that we can become more flexible in the way we go about our business."
