Escrow Account Information
Summer
Cap List
Pilot Home Meet Charges,
May 15-18, 2008
Meet Entry Fees for
May Meet
Ultra Swim Meet Charges, June 5-8, 2008
Meet Entry Fees for
Ultra Swim
SCAC Invitational Meet Charges, June 6-8, 2008
Meet Entry Fees for
SCAC
NAC Summer Sizzler Meet Charges, June 20-22, 2008
Meet Entry Fees for
Sizzler
Bullfrog Meet Charges, June 27-29, 2008
Meet Entry Fees for
Bullfrog
Senior Sectional Meet Charges, July 10-13 2008
Meet Entry Fees for
Sectionals
Southeasterns Meet Charges, July 17-20, 2008
Meet Entry Fees for Southeasterns
Escrow Summary as of
05-08-08
Escrow Summary as of March
2, 2008
Southeasterns Meet
Charges, March 21-24, 2008
All swimmers were charged for Championship T-Shirt and Cap
Meet Entry Fees for
Southeasterns
District Meet Charges,
March 16-17, 2008
All swimmers were charged for Championship T-Shirt and Cap
Meet Entry Fees for
Districts
Meet
Entry Fees for Unattached at Districts
Escrow Summary as of
02/10/08
ACAC Meet Charges, February 1-3, 2008
Meet Entry Fees for ACAC Meet
Cap List for ACAC &
Pilot Meet
Cincinnati Meet Charges, February 1-3, 2008
Meet Entry Fees for
Cincinnati
Cap List for Cincinnati
(charges posted on account next summary report)
Pilot Home Meet Charges, January 18-20, 2008
Meet Entry
Fees for Home Meet
Cap List for ACAC &
Pilot Meet
Escrow Summary as of 1/8/08
Escrow Summary as of
12/29/07
Music City Meet Charges, December 7-9, 2007
Meet Entry
Fees for Music City
Cap List
for Jingle Bell & Music City
Jingle Bell Meet Charges, December 1, 2007
Meet Entry Fees for
Jingle Bell
Cap List
for Jingle Bell & Music City
Meet Charges for
Short Course Nationals-November 29-December 1, 2007
Lexington Meet Charges, November
16-18, 2007
Meet Entry
Fees for Lexington
Meet Entry Fees for Lexington-unattached
Cap List for Emory
and Lexington
Emory Meet Charges,
November 10-11, 2007
Meet Entry Fees for Emory
Meet Entry
Fees for Emory-unattached
Cap List for Emory
and Lexington
Escrow Summary as if 11/09/07
ACAC Meet Charges, November 2-4, 2007
Escrow Fees Charged for ACAC Meet
Cap List/Misc. charges for the
ACAC Meet
Escrow Summary as if 10/28/07
Pilot Home Meet Charges, October 19-21, 2007
Escrow Fees Charge for Pilot Meet
Escrow Fees Charged for
Pilot Meet-Unattached
Cap List for the Pilot Meet
If you have any questions please
contact:
The meet secretary (escrow
treasurer) is
Xunli Wang, 865-748-6220
or
pack_escrow@comcast.net
ESCROW ACCOUNT:
Funds in the escrow account are used to pay entry fees and miscellaneous costs
for your swimmer(s) at the various meets we attend throughout the year. Each
family places $75 (enough to cover 1 to 2 meets) per swimmer on deposit
with our Meet Secretary at the beginning of the year. Additional monies must be
deposited to maintain the $75 balance as needed. The Meet Secretary will notify
you when additional funds are needed.
First payment to escrow is due on September 17, 2007. This escrow account is totally separate from and unrelated to any dues and fundraising monies.
Q: What is an escrow account?
A: Funds in the escrow account
are used to pay entry fees and miscellaneous costs for your swimmer(s) at the
various meets we attend throughout the year. The meet entry fees are computed
by adding the cost of the individual events, the relays, and the meet
surcharge. The team also charges $1 for processing fee. Thus for someone who
swam 8 individual events at $4 each, 2 relays at $10 each, and with a meet
surcharge of $3, the total cost for this swimmer amounts to $41.
Q: What is the requirement for escrow account and why?
A: The team is required to pay the meet entry fees before allowed to compete. In some cases, a payment is required several weeks in advance. This is why an escrow account is set up. Currently, an advance payment of $75/child is required for each escrow account. If you have 3 swimmers, for example, a deposit of $225 is required. As the above example shows, for each swimmer the advance payment of $75 will cover expenses for only 1-2 meets.
Q: If my children do not want to swim in any meet, am I still required to deposit an advance payment of $75/per child?
A: No.
Q: If we leave the team, can we get the money back and how?
A: It is your money. Notify the coach when you leave the team. Any funds left will be refunded to you after close out.
Q: We just joined the Pilot team, and I paid a $75 check. How come my escrow account still shows a zero balance?
Q: We withdraw from a meet, but how come we are still charged with the meet entry fees?
A: The meet entry fees are computed automatically from data in the Meet Managers’ data file. If you decide to withdraw from a meet, for whatever the reason, make sure that you have clearly communicated this with the coach, BEFORE the meet entry is submitted.
Q: How do I receive my escrow statement?
A: Escrow statement is sent to each family approximately once a month. For most families, it is delivered via e-mail. For a few who don’t have, or want to use, e-mail, a hard copy is placed in your folder at the pool. Read your statement carefully and contact your escrow secretary with any questions (see below).
Q: What does my escrow statement say?
A: Charges and check deposits are itemized in each statement. The summary session lists the total charges and credits. The balance section shows how much funds are left in your account. The program is set-up for the team, so a negative balance means credit to you or liability for the team, and vice versa. Remember that a positive balance means that you owe the team money. Add to Escrow means additional funds needed to bring your escrow account up to date (of $75 advance payment per child).
Q: How do I read the escrow account summary posted on the web?
A: Every once a while, an escrow account summary is published on the web to provide clear look of the status of everyone’s escrow account. Swimmers whose escrow account has insufficient funds will not be entered into a meet. Glossaries in the statement are explained below.
Dues: Ignore for now
Meet Entry Escrow: Your balance in the escrow account. Negative (e.g., -$50) means credit for you.
Travel fund: Ignore for now. We may set it up later for team trips etc.
Taxable sales: Ignore for now.
Misc. charge: Ignore for now
Balance: Sum of the above = escrow account. A positive balance means that you owe the team money, which is unacceptable.
Escrow: Funds you need to deposit to bring your escrow up to date.
Invoice due: Total amount due. Since Dues, Travel Funds, Misc. Charges etc are not yet used, this column is usually the same as Escrow.
Last payment: Amount of your last check and the date it is posted.
Q: How do I make the escrow account payment?
A: Write a check payable to Pilot Aquatic Club – Escrow Account. Since there are sometimes multiple families with the same last name, it would be helpful to identify the swimmer(s) on the check. You can drop the check in the folder marked ESCROW at the pool (in the file cabinet in the lounge area where the TV is located) or mail the check to Pilot Aquatic Club – Escrow Account, c/o Xun-Li Wang, 1026 Spy Glass Way, Knoxville, TN 37922. To minimize the hassle of keeping tracking of the account, some families choose to make infrequent but sizeable deposits.
Q: Who shall I contact if I have further questions?
A: Contact Xun-Li Wang, Pilot Meet Secretary at the following e-mail: pack_escrow@comcast.net, or phone 748-6220. E-mail is preferred however.