Plans for collaboration and a new organisation to deliver services could save three districts almost £46m over the next ten years.
Cherwell, South Northamptonshire and Stratford-on-Avon district councils have put plans to consultation that would see the town halls creating a local authority run organisation to deliver services.
If the option for shared services is taken up, it is expected that Cherwell could save £8.9m, South Northamptonshire £4.8m and Stratford £5.1m over a ten year period from 2015/16.
If the confederation approach to service delivery is taken up, the local authorities expect to save a combined £27.1m over the same period.
If councils elect to push through the plan, services will be reviewed by a case by case basis to determine if there is scope for sharing or inclusion in the confederation model.
Cllr Barry Wood, leader of Cherwell, said: 'Local authorities are facing difficult financial challenges in the future as we manage the reality of decreased funding and an increased demand for service delivery. It is important we do all we can to retain frontline services which are important to residents and in order to do so, we need to look at new ways to remain financially solvent once the Government's Revenue Support Grant begins to decrease.
'The combination of reduced expenditure through joint working and the potential provision of services to others should help to ensure a financially sound future where we are able to maintain high quality public services.'