On Friday the Premier League said the current campaign had been postponed indefinitely and would only resume when it is "safe and appropriate to do so".
"The fact of the matter is if we don't finish this season and there isn't a clear start date for next season we as a club will run out of money by August, that's a fact," Garlick told Sky Sports. "I can't speak for other clubs.
"That's why we are very, very determined that when it's safe to do so we really do want to finish this season
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"Finishing the season is the only real outcome for all the Premier League clubs."
Burnley expect to lose five million pounds in match-day revenue as their remaining home games will likely be played behind closed doors should the league resume.
In addition, if the season is cancelled altogether, the club will miss out on 45 million pounds in "broadcasting revenue and other items", Burnley said in a statement https://www.burnleyfootballclub.com/news/2020/april/50-million-shortfall-if-clarets-dont-finish-the-season on their website.
"It's a completely unprecedented situation that we and other Premier League clubs face and which we could not have foreseen in any way only just a few weeks ago," Garlick said.
"It's now not just about Burnley or any other individual club anymore, it's about the whole football ecosystem from the Premier League downwards and all the other businesses and communities that feed from that ecosystem."
Burnley said they were releasing the figures to be "transparent with supporters, staff and stakeholders".
The country's soccer authorities were in talks on Saturday to discuss a proposed 30% reduction in players' wages.