Hundreds of people turned out for Humberstone Park's popular community bonfire last night.
However, the event may not be held next year if proposals to cancel funding go ahead.
Caroline Green, 42, of Anstey Lane, Leicester, who was there with her seven-year-old twins, Zach and Mason, and niece Ellie King, seven, said: "We've been coming for the past four or five years, we think it's the best one in Leicester.
"It's a really good family evening out. It would be bad news and a real shame if it didn't go ahead next year.
"I'm sure people would be prepared to pay to come to it. There isn't much going on for families these days."
Barbara Rudkin, 52, of Thurnby, was there with her daughter, Jodie Pruce, 30, and her two children Bree, three, and two-year-old Junior.
She said: "They're absolutely loving it, they're so excited.
"I'd be disappointed if it didn't go ahead next year.
"I'm sure people would be prepared to pay £1 a head if it meant keeping it going.."
Joanne Brandreth, of Northfields, who was there with eight-year-old daughter Evie, said: "I'd be gutted if it didn't happen next year. There aren't a lot of things going on in this area."
City Mayor Sir Peter Soulsby has announced his intention to cease the £16,000 of council funding for the bonfire.
He said he would help volunteers apply for community forum grants to stage the event.
He said other parts of the city, such as Braunstone, hold a bonfire without council money.
