77th Annual Meeting

SUPPORT FOR MAYORS' NATIONAL DOLLAR WI$E CAMPAIGN

WHEREAS, The United States Conference of Mayors' Council for the New American City established the Mayors' National Dollar Wi$e Campaign: Financial Education for America in 2004 to invite the nation's mayors to make their citizens' financial literacy a top priority; and

WHEREAS, Dollar Wi$e encourages and helps mayors strengthen existing financial education efforts in their cities and to forge these efforts into a more effective, year-round coalition of organizations supported by the mayor's office; and

WHEREAS, each year mayors and cities across America participate in Dollar Wi$e Week, which provides them an opportunity to highlight their ongoing financial education programs through outreach to the public and to local media; and

WHEREAS, the growing complexity and rapid change in the financial environment since the Conference of Mayors launched Dollar Wi$e, coupled with the global economic crisis, have made financial education more important than ever; and

WHEREAS, the economic crisis has highlighted the necessity of making wise financial decisions from an early age to ensure a secure future; and

WHEREAS, the American Recovery and Reinvestment Act provided $1.2 billion in additional federal funding for local summer youth employment programs; and

WHEREAS, these programs, where many youth are employed, earning a paycheck, and making financial decisions for the first time in their lives, provide an opportune teachable moment to offer financial education to participating youth; and

WHEREAS, The United States Conference of Mayors invites the nation's mayors to take advantage of this teachable moment by incorporating a financial education component into summer youth employment programs through the Dollar Wi$e Summer Youth Campaign;

THEREFORE, BE IT RESOLVED, that The United States Conference of Mayors reiterates its position that helping every American become financially literate should be a priority for federal, state, and local governments;

BE IT FURTHER RESOLVED, that every mayor and city in the United States is invited and encouraged to join the Mayors' National Dollar Wi$e Campaign and make a commitment to increasing their citizens' financial literacy;

BE IT FURTHER RESOLVED, that all mayors and cities are invited to participate in the sixth-annual Dollar Wi$e Week, September 26-October 3, 2009, by organizing public events and outreach efforts that bolster existing local financial education efforts, provide venues for families to open bank and savings accounts for themselves and their children, and build community-wide financial education strategies for youth and other audiences;

BE IT FURTHER RESOLVED, that all cities with a summer youth employment program are invited to participate in the Dollar Wi$e Summer Youth Campaign and incorporate a component on financial education into these programs; and we encourage the federal government to make financial education an eligible expense for the funds it appropriates for these programs;

BE IT FURTHER RESOLVED, that we once again call upon the federal government to set aside a portion of the fees levied against financial institutions for the support of local financial education initiatives;

BE IT FURTHER RESOLVED, that we commend those state governments that have made economics and financial education a requirement for graduation from high school and call upon remaining states to do the same.