The authority has launched its Budget Consultation for 2019 to 2020 called 'Working Smarter Together'.
Anyone who completes an online survey or attends a public meeting is in with a chance of winning an iPad (the prize has been donated by a council supplier).
The council is consulting on proposals to make a £695,000 of cuts and income generation ideas in 2019/2020 which will have an impact on the public.
It is also asking for people's views on proposals to raise council tax by 4.99% - which includes the 2% adult social care precept.
Since 2010, the council has had to shrink its budget by more than £220 million and has lost a third of its workforce as it continues to manage unprecedented cuts from Central Government at a time when demand for services is rising.
Cabinet councillors met this week and were updated by the council's finance director that further significant savings needed for 2019 to 2020 including the £695,000 which required public consultation, £4.7 million of efficiency proposals that which do not directly impact the public and work was still needed to address a remaining deficit of £6 million.
Councillors approved the consultation which was launched today (Friday 19 October) and will run until 31 December.
Councillor Louise Miles, the council's cabinet member for resources, said: "Like every council across the land, we are being hit with ongoing massive cuts from central Government at a time when demand for our services and costs are going up.
"To be able to balance our books, we continue to have to pass on these government cuts by reducing services and raising council tax. There really is no choice and this continues to be the most challenging financial situation we've ever faced.
"We want an upfront conversation with our residents to explain the situation and seek their views on where our finite resources should be prioritised faced with this stark reality.
"The consultation is called 'Working Smarter Together' because we want to work closely with our communities, voluntary sector and businesses to look at how services can be delivered differently.
"I would urge everyone to have their say which is easy to do online or by attending one of four public meetings."
People can complete the survey online via Type=articles;Articleid=13285;Title=Budget Consultation 2019 to 2020;
Four public meetings will also be taking place which all start at 6pm. They are:
- Bantock House Tractor Shed, Bantock Park, off Finchfield Road, 25 October
- Low Hill Community Hub, Kempthorne Avenue, 1 November
- Bob Jones Centre, Bromley Street, Blakenhall, 13 November
- Bilston People's Centre, Excel Church, Wolverhampton Street, 15 November
- released: Friday 19 October, 2018