Cambridgeshire County Council has said it needs to make £74million in savings or increase its income to avoid a budget deficit across the next five years.
Next year alone the council said it would need to find £24.6m, of which it said it has already identified £10.7m in savings and £1.3m in additional income.
The council says the current estimates leading up to the financial year 2024/25 are "fluid," and are part of the normal budget-setting process which will be reviewed until February.
A spokesman said the current five-year forecast is "indicative" and comes amid "major uncertainty" from Government over the future of council funding.
The council said: "Like all councils across the country, Cambridgeshire County Council is facing a major financial challenge. As one of the fastest growing counties in the country, this financial challenges is greater in Cambridgeshire than elsewhere.
"As our county grows demand increases, yet like all councils the money Cambridgeshire County Council receives from central Government has been reducing year on year.
"Through our FairDeal4Cambs campaign we are currently linking with other 36 Shire County areas who make up membership of the County Councils Network - raising the issue of historic underfunding of shire counties with our MPs and through them with Government.
"Cambridgeshire County Council is the sixth worst-funded council in the UK, and if it received even the same amount of the average shire county it would be £19m a year better off. We have already delivered £178m of savings over the last five years and have a strong track record of value for money improvements which protect frontline services."