The U.S. Conference of Mayors
2007 ADOPTED RESOLUTIONS
URBAN ECONOMIC POLICY

DOLLAR WI$E

WHEREAS, the United States Conference of Mayors' National Dollar Wi$e Campaign has set aside the week of September 24-29, 2007, for cities to celebrate Dollar Wi$e Week 2007; and

WHEREAS, the Dollar Wi$e Advisory Board has selected "Savings for Kids and Families" as the theme for Dollar Wi$e Week 2007; and

WHEREAS, the Mayors' National Dollar Wi$e Campaign invites all mayors and cities across the country to join in celebrating Dollar Wi$e Week 2007 by working with local financial institutions and community organizations to encourage parents and families to help their children open savings accounts; and

WHEREAS, savings form an essential part of a solid financial foundation for the future and are an important aspect of wise personal financial management, allowing the nation's citizens to prepare for college education, homeownership, retirement, and emergencies; and

WHEREAS, the nation's savings rate dipped into the negative in both 2005 and 2006, the first time since the Great Depression of the 1930s that Americans as a whole failed to save at least a portion of their money; and

WHEREAS, to promote business investment in America's cities and to help individuals become investors in their communities, the United States Conference of Mayors organized the Council for the New American City, a coalition of mayors, private-sector organizations, and nonprofit groups working together to promote our cities as places in which to invest; and

WHEREAS, the largest and most important financial investment most American families will make in their communities is the purchase of a home; and

WHEREAS, for many Americans the greatest obstacle to homeownership is poor knowledge of personal financial management skills and mortgage opportunities; and

WHEREAS, the Council for the New American City has established the Mayors' National Dollar Wi$e Campaign to invite, encourage, and help cities establish and enhance programs that assist their citizens gain the knowledge necessary to handle their personal finances responsibly; THEREFORE, BE IT RESOLVED that the United States Conference of Mayors encourages all mayors and cities to participate in Dollar Wi$e Week 2007 by sponsoring and organizing events that will assist their citizens in understanding the importance of wise financial management and bring in parents and families to help children open savings accounts;

BE IT FURTHER RESOLVED that the Conference of Mayors invites all of the nation's mayors to register their cities for the Mayors' National Dollar Wi$e Campaign and encourage their active year-round participation therein;

BE IT FURTHER RESOLVED that the nation's mayors call on the federal government of the United States, including Congress, the White House, and federal agencies, to take the steps necessary to support the enhancement and expansion of programs designed to help the nation's citizens become more financially literate and better able to support themselves and their families and contribute to the communities in which they live.

2007 The U.S. Conference of Mayors
Tom Cochran, Executive Director
1620 Eye Street, NW, Washington, DC 20006
Tel. 202.293.7330 ~ Fax 202.293.2352
info@usmayors.org