Swindon Conservative councillors say they have uncovered figures highlighting financial problems at the borough council.
The Conservatives say the data shows there is no end to the problems in sight.
In February 2025 of this year Swindon Borough Council needed what the opposition terms a Government-approved bailout called Exceptional Financial Support worth £14.7m.
The Conservatives say the predicted shortfall reported at Cabinet was £30.1m over three years but that it failed to set out clearly the true scale of the financial problems.
Deputy Conservative Group Leader Cllr Dale Heenan said: "Swindon Borough Council will apply for a second Government bailout worth more than £20 million to avoid issuing a s114 bankruptcy notice before the end of the year.
"I challenge those in charge to say I am wrong. If they can't then it looks like they are in denial about the financial problems created under their watch or misleading the public.
"It makes no sense for senior Councillors to be making jokes about the situation on social media, accuse those who speak up of Political mischief and tell the public everything is fine because the overspend is 'only' £1.9m."
The Conservatives say the council has increased spending by £49m in two years, and there is a £69.6m shortfall over the next three years because the problems compound year on year.
Cllr Heenan added: "This is not the normal budget pressures which naturally occur and balance out over 12 months. Swindon Council officially has a deficit. Spending more money than it's income this year, next year, the year after and no plan to live within its means."
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