Tim Madison isn’t wasting any time in his new role as a member of Bexley City Council.

In his first month in office, Madison has already kept his first campaign promise, to form a committee to explore new revenue sources for the city.

“The creation of this committee was my idea and I vowed during my campaign to make it a reality,” Madison said. “ With the loss of the estate tax and local government fund, we must conceive new and creative additional sources of revenue to meet the financial requirements of the city.

“The simple truth is that our city cannot continue to rely on income tax increases and we must do everything possible to refrain from seeking another income tax increase any time in the foreseeable future.”

Madison has assumed leadership of the Bexley Alternative Revenue Task Force and is actively seeking volunteers from the community to join in the effort.

“My goal is to convene the first meeting within the next 30 days,” Madison said. “Council discussed that the task force should issue its recommendations prior to the 2013 budget process that commences in November 2012; however, if the task force needs additional time to thoroughly study the issue and conclude its business, so be it.”

Madison said the wealth of intellectual capital in the Bexley community will ensure the task force’s success.

“I am confident that the task force will be a diverse, knowledgeable, and dedicated group and that its recommendations will significantly impact the future income generating capabilities of our city,” he said. “A number of very motivated residents have already volunteered to be part of the task force and I hope that it will consist of no less than 20 residents.”

City council President Ben Kessler said last year’s campaign to approve a city income tax issue has increased the community’s awareness and understanding of the city’s financial challenges.

“ While there was widespread recognition that the city’s financial challenges were substantial, and in large part a result of state policy changes, I think the income tax issue also exposed a desire to see if the city and the schools could look beyond conventional income sources and explore alternative revenue streams,” Kessler said.

Kessler said Bexley residents get what they pay for, but the burden on local taxpayers continues to increase.

“Bexley has historically had one of the higher local tax burdens in central Ohio, and I would argue this is generally for good reason,” he said. “With those tax dollars, we provide an excellent educational system and top-notch city services.

“At some point, however, we lose the ability to raise sufficient funds to continue to support these services. The hard reality is that Ohio local tax policy is stacked against first-ring suburbs like ours, with our limited capacity for a sufficient payroll base and therefore our inability to effectively compete for local income tax dollars.”

Kessler said the challenge facing Bexley is attaining sustainability.

“Now more than ever Bexley’s public institutions need to vigilantly ensure our funding models are sustainable,” he said. “ The city has a strict regimen of expense reductions to continue to adhere to, and further cuts from the state of Ohio are not out of the question.

“Through Issue 24 and the city’s expense reductions, the immediate pressure that came in the wake of the state’s elimination of the estate tax and the reduction in local government funds has been alleviated, which makes this a perfect time to take a step back and take a measured approach to guarantee the future financial sustainability of our city,” he said.

Kessler said he looks forward to input from Bexley residents.

“We’ve had imaginative, well-qualified residents come to us and offer to help brainstorm alternative forms of revenue for the city,” he said. “This task force is being created to give interested residents a forum to further develop innovative ideas for alternative revenue, and a platform from which to present those ideas to the city.

“Alternative revenue could mean a number of things, but the basic concept is to look beyond standard tax options and explore other sources of income for the city.”

Anyone interested in participating in the task force should call Madison at 228-5600 or email tmadison@madisonrosan.com.