Members of the cabinet gave the green light for it to go before the full council later this month for final consideration.
If the new budget is approved:
Extra cash will be pumped into the adult services and children's services departments, with the former seeing an increase from £36.8million in 2012/13 to £38.9million, and the latter from £15.5million to £16.4million.
Buildings and infrastructure at the area's schools could be improved with £2.1million set aside to finance the work
Schemes which would benefit include the Stafferton Way relief road, for which £50,000 has been allocated for preparatory work, and Charters Leisure Centre, which would receive a £205,000 boost
Redevelopment of facilities at the Manor Green School site in Maidenhead would be paid for with £240,000 of council funding once an ongoing consultation has been completed
But at least 28 staff are at risk of redundancy at a potential cost of £435,000
The council meeting is due to be held on Tuesday, February 19.