And, while the full-back harbours hopes of being offered a new deal, he has echoed his manager Gudjon Thordarson in criticising the board's decision to offer the County boss a marginally reduced playing budget for the upcoming campaign two weeks ago.
"The trouble with this place is it is always negative and not sounding or looking as if we are going to go anywhere," Ullathorne told the Nottingham Evening Post.
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"It is always here and always around and people don't want to do this and don't want to do that because we went into administration. You have to move on.
"That is the past. We have been successful, we have come out of administration, now look forward.
"There has to be a plan to take it forward."
It is thought that Thordarson's budget for next season will still be amongst the highest the division has to offer, but Ullathorne cites the examples of high-flying Carlisle and Wycombe as to where the Magpies should have been spending their money this campaign.
"What is frustrating for the likes of me is to see the likes of Carlisle, who I class as a miles smaller club than Notts County, getting the likes of Michael Bridges going there," he said.
"Now he is not going to be going there for peanuts.
"I know they were up there when they took Michael, but sometimes you have got to take a chance in football and maybe they thought they took a chance with all the new signings last season, when they put us all on two-year deals.
"But, at the end of the day, if they want to go up they have got to take a chance.
"I hope this club does do that because it is massive.
"Wycombe have done it and look where they are."
Chairman Steve Thompson - who is stepping down from the role in the summer - justified the cash-strapped club's decision to reduce Thor's budget.
"The budget we had this season was 15% more than Grimsby Town and if they do not get promoted and keep the same budget we will still be spending more than them next season.
"We have approached every club in this division before setting our budget.
"It is not a figure picked out of the air and it is not static. There is room for bonuses and performance related pay on the playing side as well."
Thordarson has so far made 18 permanent or loan signings since signing a three-year contract at Meadow Lane in May, but the Icelander has continually spoke of his frustration at the lack of money at his disposal.
Ullathorne enjoyed an excellent first season with the Magpies, but has endured a stop-start campaign this time around, often being overlooked in favour of rookie Liam Needham.