The authority has launched the Bucks Debate, a series of roadshows where residents get the chance to suggest ways money can be saved and what services should be prioritised.
At a council meeting today, leader, Cllr David Shakespeare said he expects the Government's grant to the council, which is around £84 million, to be cut by between 25 to 40 per cent in the comprehensive spending review.
Three million pounds has already been taken away from their current budget.
Any reductions will be on top of £52 million of savings the council has already had to make over the next four years.
Cllr Shakespeare said: "There is no doubt we face challenging times ahead in public sector services.
"When I say challenging times I mean it in the same sense as Dunkirk being a challenging experience for the nation as well.
"Increasingly, the role of councils will be about being providers of the last resort, helping those who really cannot help themselves."
He said services which the council does not have an obligation to provide may be scrapped altogether, while those it does have a responsibility to provide may be reduced or changed considerably.
The Bucks Debate at locations across the county in September, including September 10 at Booker Park School in Aylesbury and September 20 at Princes Risborough School, both starting at 7pm.
Deputy leader, Cllr Bill Chapple, said: "The Coalition Government has inherited a massive debt problem, and time for resolving it is not on their side.
"The longer they prevaricate, the more interest will accrue on that debt.
"We have already shouldered substantial in-year budget cuts and you don't need a crystal ball to predict that there is more to come.
"We know the 'Rolls Royce' level of services residents have received in the past cannot be sustained in the current economic climate.
"While we will always strive for the best, the bottom line is communities are going to have to become more self-sufficient, with support and back-up from us.
"The idea behind the Bucks Debate is to get people together, looking at ways we can all best serve the interests of our residents and maintain the best quality of life possible for all generations."
He added: " "This isn't about us, the Council, telling people what they want, it's about them telling us what they need.
"It's also about us finding out how residents can get more involved within their communities.
"I really do urge people to come along, play their part and help us to help them."
To visit the official Bucks Debate website, click
here.
How do you think the council can save money or guarantee more income? What services should be cut or reduced first?