The Brumbies are also set to advertise for a new chief executive and hope to have someone in place by December after Kennedy admitted the drawn-out Michael Jones saga "bruised" the club's fans, sponsors and stakeholders.

The Brumbies have stabilised their back-room drama with interim boss Phil Thomson in charge after Jones and the club engaged in a bitter legal dispute before Jones agreed to a payout.

The matter is still continuing between Jones and other parties in the ACT Supreme Court.

Jones had projected an almost $2 million turnaround for the Brumbies this year to get the Super Rugby club to turn a profit.

However, it can be revealed the Brumbies are expected to report another financial deficit at the end of the year, but hosting a home Super Rugby finals match is set to boost the coffers.

Aquis signed an $8 million, six-year deal at the start of 2015 that was supposed to ensure the Brumbies' financial future.

Aquis committed to the Brumbies with the view to being part of a future Civic redevelopment, including a $330 million project.

As reported in Fairfax Media in May, Aquis is believed to have an option to exit the deal in September to allow it to take into account the government's poker machine decision.

"In reality it will probably be after the election that we know about Aquis and their future," Kennedy said.

"The election will probably be the key deciding point to see if they can go ahead with their development plans in Canberra.

"Our relationship with Aquis is excellent, but if they're not a player in town they'll invest their funds elsewhere.

"It is a concern [long-term], it's a risk that we're watching and dealing with closely."

Officials are confident the Brumbies will be financially viable despite reporting another loss. Kennedy is adamant the club is in a stronger position than some of its Australian rivals.

Kennedy said up to 10 candidates had expressed interest in the Brumbies chief executive role given that the job is yet to be advertised.

Thomson, who is on secondment from the ARU as its integrity manager, could also emerge as a long-term leader for the Brumbies after easing tensions in the Canberra rugby community after Jones' exit.

Kennedy hosed down suggestions that the ARU was set to step in and take control of the Brumbies under its centralisation plans while negotiations with coach Stephen Larkham continue.

Larkham's contract expires at the end of the Super Rugby season and he could be forced to weigh up a full-time assistant job with the Wallabies or his Brumbies position.

The Brumbies board met last week and is pushing through governance changes to implement a more professional set-up before the end of the year.

Kennedy, who is up for re-election at the annual meeting in December, said he took full responsibility for the Jones drama.

"I don't back down from it in terms of the terrible saga that we went through," Kennedy said.

"I didn't [think about stepping down] because I believed that we needed unity and stability and to professionalise the board.

"The breakdown [with the University of Canberra] is in our past and there are some minor issues with our long-term alliance with UC, but I'm confident we'll work through those with them.

"The relationships with a number of stakeholders have been bruised, but we've had numerous meetings and all of them are extremely positive and looking forward to repairing those relationships."

Jones said in February last year that the deal with Aquis and the new Super Rugby broadcast deal would make it an "absolute certainty" that the Brumbies would turn a profit in 2016.

However, his payout and a number of factors will likely see the Brumbies report a deficit at their annual meeting. The Brumbies say their financial position is "solid" and the size of the loss will be manageable.

Kennedy was reluctant to put a time frame on when a new chief executive would be appointed, with the job to be advertised by the end of the month.

The ARU is helping the Brumbies attract the best possible candidates and it is likely it will be filled by December at the latest.