Cheshire East Council is to ask the government for exceptional financial support for the second year in a row.
The authority, which signed off a multimillion-pound cost cutting plan over the summer, is set to ask the government for support of up to £31.4m for next year and £23.7m for the year after.
The leader, Labour's Nick Mannion, said the figures were "very much worse case scenario".
The Local Government Association said it expects one in four councils to require emergency support over the next two financial years.