2005/03/22 City Council Resolution (10)RESOLUTION NO. 2005 - 81
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF ROHNERT PARK
RECOGNIZING APRIL, 2005 as
FINANCIAL LITERACY MONTH
LEAS, according to a Bankrate Financial Literacy Survey, Americans still get a "D" in
al literacy; however, they are better than last year in that most at least realize that they
have an emergency account, a budget, and a will. They just don't do it; and
WHEREAS, there is a gap between how Americans 5�U they use credit and how they actually
use it. Credit card debt embarrasses us so much, we'd rather disclose our weight, age, and salary
than how much we owe; and
WHEREAS, more young adults filed for bankruptcy than graduated from college in 2001. Over
75 % of all college students have at least one credit card and reportedly more students drop out of
school due to credit card debt than academic failure. Personal bankruptcy filings increased in
2003 to 1.7 million with personal non - business bankruptcies accounting for 97.6% of all
bankruptcy cases; and
WHEREAS, financial literacy cannot be cut along education lines, gender lines, or political party
lines. Republicans, Democrats and Independents scored equally poorly, averaging a "D "; and
°d
DULY AND REGULARLY ADOPTED this 22 day of March, 2005.
FLORES: YYEE SMITH: AYE
sPRADLIN: AYE VII)AK- MARTINEZ: AYE
MACKENZIE- AYE