Peterborough City Council has agreed a multi-year funding settlement with the Government.
Local Government minister Marcus Jones wrote to confirm that the council will receive a multi-year funding deal after it published its efficiency strategy.
The strategy sets out how the council will meet the challenges of further funding reductions.
The council can now expect to receive, at least, a minimum level of business rates and revenue support grant this year and in 2017-18, 2018-19 and 2019-20.
It is thought the Government will confirm the exact levels of funding as part of the local government finance settlement this winter.
Councillor David Seaton, council cabinet member for resources, said: “I believe that we have clearly demonstrated to government the council’s robust financial management in an era of decreasing funding to local authorities.”