The council has planned to pay off $5.7 million in loan repayments and not rely on borrowing to reduce the deficit, which is hoped to reach $2.9 million in 2015.

 ?It wants to bring the budget back to surplus in four years.

The deficit has grown from $4.2 million last year.

The council held an information session last night on its 2013-14 proposed budget, which three members of the public attended.

The budget is available online on the Your Voice, Your Launceston website until June 12.

More than 750 website visitors have so far participated in a budget survey.

The council will formally  ?adopt the budget at its June 24 meeting.

General manager Robert Dobrzynski last night said an independent review of council operations had shown the council that it has to ``cut its cloth to suit''.

He said the council had nett assets worth $1.45 billion and it would soon review what assets were redundant and could be off-loaded.

Mr Dobrzynski said the independent ``form and function'' review would find millions of dollars in savings.

 ?Capital expenditure this coming financial year will drop by  $4 million to $13.5 million.

The council's corporate services director Michael Tidey said the council was preparing in 2014-15 for a spike in urban renewal projects, followed by suburban renewal projects, identified in the council's Greater Launceston Plan due in October.

 He said it was expected that government grants would fund the projects.