The council says it has to close a £30 million budget "gap", which has pushed its financial situation to a "critical level".
It comes after the council was forced to find £14.3 million in savings earlier this year. The budget for the year 2024/25 saw the introduction of the 'green bin charge' and changes to the Lord Mayor of York's civic funding.
Ian Floyd, chief operating officer at City of York Council, said: "The financial challenges facing local authorities are very significant, on the back of many years of reductions in local government funding.
"There will need to be significant decisions made to ensure the council can continue to deliver critical services.
"We are committed to listening to residents, businesses, and partners to help shape the future of the council's budget. I encourage everyone to contribute to this important conversation."
In the hope of managing future challenges, the council has launched 'Our Big Budget Conversation' - an ongoing consultation that aims to gather residents' priorities ahead of upcoming cuts.
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