Histon have parted company with manager Dennis Greene after only five months in charge of the first team.
Greene left the club by mutual consent after being told by the board they could no longer afford to pay him.
"It's a major disappointment for me. Three weeks before Christmas and I've no longer got a job," he said.
Youth coach Brian Page and former player Nacer Relizani, who was a member of John Beck's backroom team in 2010, have been put in temporary charge.
Greene was appointed in July after Page, the board's original choice, failed to agree terms and opted to stay at the club in his youth team role.
In a statement on their website, the club blamed "extreme financial circumstances" for the decision.
"Whilst the board acknowledges that circumstances have been far from ideal, the need to reduce on-going costs has resulted in this situation," the statement continued.
Chairman Russell Hands told BBC Radio Cambridgeshire that unexpected legal fees were the cause of the current crisis and admitted relegation was a probability.
Histon, who are next to bottom in the table going into Saturday's game at Guiseley, went close to winning a place in the Football League in 2009 but lost in the Blue Square Premier play-off semi-finals.
Their financial situation deteriorated thereafter and they were relegated to the Blue Square Bet North at the end of the 2010-11 season.
The club were forced to cancel a game against Colwyn Bay last month and were only able to move forward after former directors agreed to write off money they were owed.
Greene, formerly manager of St Neots, said he was "never kept in the loop" about the extent of the club's financial problems.
"I should have been notified about this weeks and weeks ago and I've told them how disappointed I am," he added.
"They could have told me six or eight weeks ago what the problems were and I'd have told them 'let's go part-time, I'll get a full-time job and I'd have done it [managing the team] for less money and tried to get us through this situation'."