Councillor Andrew Johnson, Cabinet Member for Resources, said: "The Financial Plan explains to residents and local businesses the impact of what is the most severe financial challenge in the Council's history.
"The cuts in Government grant that we're dealing with are simply unprecedented.
"Nevertheless, there are things that as a council we're committed to do. Not least, we intend to obtain the necessary resources to invest in housing, schools, roads and in our city and neighbourhood centres.
"We're also serious about delivering a balanced budget in the long term, not just over a single year.
"The Financial Plan shows how, by taking prudent, yet decisive action, the council will honour its pledge to make Wolverhampton a better place for everyone who lives and works here.
"On behalf of the council, I'd also like to thank our partners, Agilisys, who are working with us to transform our internal systems and business processes as part of our continuing drive to increase our efficiency and the value for money we offer.
"By sponsoring the production of the Financial Plan, they have made it possible to provide a vital document to the public at no cost to Council Taxpayers".
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released: Tuesday 17 December, 2013