Mangaung Mayor Olly Mlamleli has survived another motion of no confidence which was tabled by the DA on Tuesday.
The DA tabled the motion, claiming Mlamleli was responsible for the financial crisis in the City.
The party asked Speaker Mxolisi Siyonzana for a secret ballot but the request was declined.
Fifty-four ANC councillors voted against the motion and the DA's 34 councillors were in the minority. Two councillors abstained from voting, the DA's Mokgadi Kganakga told News24.
"It's unacceptable that no one is willing to take responsibility. National Treasury, in February, gave us six months to get everything in order and now things are looking worse than before. I'm afraid that as things stand, National Treasury will have no choice but to dissolve this council. The citizens are also being punished because there is just no money to deliver services," she said.
She added that the DA would continue to hold the executive to account.
According to National Treasury, the Mangaung municipality's finances deteriorated substantially since 2018/19, leading to the adoption of a financial recovery plan, which the national Department of Cogta and National Treasury agreed to.
The metro was previously placed under administration.
News24 reported that Deputy Finance Minister David Masondo and Cogta Deputy Minister Parks Tau went to the municipality as part of an oversight visit after interventions were put in place.
In February, Masondo announced that poor governance and budget management had led to the ineffectiveness of the intervention.