The council, which continues to manage Central Government funding reductions, is giving people the chance to have their say before the 2017/2018 budget is set in the Spring.
People are being asked for their views on 32 proposals which are a combination of cuts, more efficient ways of working and plans to generate additional income.
They include significant changes to waste and recycling services where it is proposed to introduce fortnightly collections of non recyclable waste and introduce a charge for garden waste collections.
The consultation also asks people for their view on a proposal to raise council tax by 3.99% which incorporates the Government's charge of 2% to cover the rising cost of adult social care.
People can take part in the consultation by completing a short Type=links;Linkid=7722;Title=online survey;Target=_blank;.
They also have the option of attending public meetings which are taking place at venues around the city.
At least 2 Cabinet councillors will attend each meeting. They will be joined by senior officials and will answer questions from the public about the savings proposals.
The public meetings, which all begin at 6pm, take place as follows:
- Thursday 3 November - Bob Jones Community Centre, Bromley Street, Blakenhall.
- Thursday 10 November - Bert Williams Leisure Centre, Nettlefolds Way, Bilston.
- Thursday 24 November - Bantock Park Tractor Shed, off Finchfield Rd, Bradmore.
- Thursday 1 December - Low Hill Community Hub, Kempthorne Avenue.
Anyone who takes part in the consultation can enter into a competition to win a 3 month platinum membership which can be used at any of the city's 3 WV Active leisure centres offering unlimited fitness classes, swimming and gym.
Councillor Andrew Johnson, Cabinet Member for Resources, said that it was important people took the opportunity to have their say in the consultation.
He added: "We are calling the consultation this year 'Delivering what matters with less'. We are trying to get across the message that the council is having to manage massive cuts from Central Government which is forcing us to make difficult decisions we would rather not have to make.
"We hope people recognise that as part of a tightly managed strategy, we are not making knee jerk cuts. We are being open about the fact we have much less money than before and are trying to run services more efficiently and raise income in different ways.
"I know that certain proposals, such as fortnightly waste collections, will concern some residents and this is why we want to explain them fully and give people the opportunity to have their say before any final decisions are taken.
"We genuinely want to hear what people think and we will take those views into account before we set next year's budget."
The consultation will run until 14 January, 2017.
- released: Wednesday 26 October, 2016