The leader of Harrow Council David Perry confirmed yesterday that in consulting on the authority's upcoming budget, one option is for the council to cease funding community festivals.
The Labour Group campaigned to keep Under One Sky this year after the then-Conservative administration proposed hosting an alternative festival.
He told getwestlondon at the time: "This is our flagship community event which puts Harrow on the map, and to lose it would be devastating."
However even without council funding, the festival could still endure.
Up until the 1990s, the charity sector hosted the Harrow Show, which was independent of public finance.
Opposition leader Councillor Susan Hall (Conservative) said after the festival in 2013, which the council had to subsidise: "It would seem that the finances behind the event this year are more pie in the sky than Under One Sky."
Mr Perry and his party will have to agree a budget early next year.
