Shedding more than 1,000 jobs and cutting finance to youth services and adult care has helped a county council reduce a £35m budget shortfall by 70%.
A new report into finances at Northants County Council showed the shortfall has been cut by £25m in six months.
This was despite the county getting one of England's lowest grants from central government.
The full report goes to the council's cabinet next week alongside more management plans to cut debts further.
Directors are finalising plans to tackle the remainder of the shortfall while minimising uncertainty for staff and service users.
More work ahead
Cabinet member Bill Parker said: "We are very pleased with the new rigorous financial monitoring we have in place which has allowed us to get to this stronger position and identify early on any potential issues with this year's budget.
"This report clearly shows that not only have we made significant inroads into facing up to our government funding shortfall but that we have also been successful in sharply reducing any projected overspend.
"However we must not be complacent. This report clearly shows there is more work to be done.
"This is work we are determined to complete swiftly to put this council back on a firm financial footing."