In a statement, the authority revealed it expected to have to reduce its expenditure by at least 5%, a figure which includes the 2% efficiency savings being demanded by the Scottish Government for all authorities.
Speculation is growing the council will have to make identify savings beyond the£50m already announced.
The council said its top priority was to make efficiencies and boost its income, before it agreed to any proposals that had an impact on the quality of service delivery.
Talks are being held with organisations which receive council funding or work alongside the authority to make them aware of the scale of the crisis engulfing the council.
Speaking on behalf of Aberdeen’s leadership board, council leader Kate Dean (Lib Dem) said: “Early preparation this year in readiness for next year’s budget will give everyone plenty of time to focus on our improvement process, more efficient ways of working, and the continuing task of steadying our finances.”
Options for cuts will be considered by the resources management committee on 25 November with a full council meeting making a decision on 17 December.