Councillors are demanding to know where money has gone from the sale of two houses on a school site.
Thame Town Council has had two explanations and neither is satisfactory, say members.
The controversy is over the sale of two large detached houses which were once part of Lord Williams's Upper School site in Oxford Road.
The Warren and Uplands were surplus to requirements and were sold by Oxfordshire County Council for an undisclosed sum. Planning permission has been given for five detached houses on the site.
Thame council member David Dodds said a long-standing agreement with the county council said the money from the sale should be used on improvements at the 2,000-pupil comprehensive.
When the town council first asked about the money it was told it had all gone into county council coffers.
But the full council was told by county and town council member Diana Ludlow: "The county says money was spent on the school in anticipation of the sale."
Mr Dodds has challenged that explanation.
He said: "We need to know the real details of this sale and how the money was spent on the school, if it ever was."
Barry Shepherd, property officer for Oxfordshire County Council, said there was no mystery about the money.
He said: "When we first suggested selling the houses ten years ago, work was done at the school paid for from other sources in anticipation of the sales.
"When the sales were made earlier this year the money from them went into council funds."
Comments: Our rules
We want our comments to be a lively and valuable part of our community - a place where readers can debate and engage with the most important local issues. The ability to comment on our stories is a privilege, not a right, however, and that privilege may be withdrawn if it is abused or misused.
Please report any comments that break our rules.
Read the rules hereComments are closed on this article