The council says it is taking immediate action to reduce the forecasted overspend by the end of this financial year.
It’s being driven by increasing care needs of vulnerable adults and children and providing temporary accommodation for over 1,000 homeless households.
London councils are collectively predicting a £600million overspend this year alone.
Last year Kingston spent more than £100m, which is over half its budget, on essential support for people in need.
Kingston says it is working hard to transform how it provides services to make the best use of the money it has.
However, bosses say there is a need for significant funding reform.