Ohio Swimming
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Ohio Swimming

 Club Assistance Policy

The COVID-19 pandemic has put USA Swimming(“USAS”), Ohio Swimming (“OSI”), and each of OSI’s constituent clubs and members (and members’ parents) in uncertain territory with extraordinarily difficult financial issues.  None of us knows how long the problem will last.  Consequently, OSI is focusing on how to support its constituent clubs to assist their ability to come back when we are able to swim again. 

OSI will be affected financially in a significant adverse way.  However, OSI can make available to its constituent clubs financial assistance up to a maximum of $20 per swimmer registered with that club.  Half of the assistance would be available in an outright grant and half would be an interest free loan repayable quarterly over two years, beginning after 6 months (so in 7 installments). 

A formal loan agreement would need to be signed between the club and Ohio Swimming including a personal guarantee by the head coach or owner, or a performance guaranty by each member of the governing body of the Ccub that all statements on the club’s application are true, and the financial assistance will only be used for the purposes stated on the application, and if there is any violation of the guaranty, or default by the club, the members of the governing body shall be jointly and severally liable for repayment of the financial assistance.  The head coach of each applicant shall certify that all statements on the application are true, and will be jointly and severally liable for any loss to OSI if any statement is false.  The note will require applicants to document expenditures of financial assistance funds. 

Clubs apply for this program by submitting a completed application, including a statement of need (what you're using the money for, and why you don't have reserves to cover it), along with the most recent financial statements for all entities associated with the club (operating entity and booster entity if those are separate).  The club’s statement of need would itemize what will be paid with the financial assistance; a club may not spend any of the assistance funds for any other purpose.  Keep in mind that the focus is on providing the minimum basis to enable a club to survive an indefinite shut down. 

The finance committee will review applications.  Awards of financial assistance (grants and loans) will be based on need and the club’s efforts and ability to work through this problem.  Awards may not be used for the purchase of equipment or other fixed assets, for travel expenses, apparel or conferences.  Support by individual clubs will be considered. 

Clubs with past due balances to OSI would not be eligible as they are already effectively receiving financial assistance.  Exceptions to the above policy on past due balances will be granted to clubs where more than 5% of their registered swimmers are Outreach swimmers.  Also, in accordance with USA Swimming recommendation, city or community owned or supported clubs and university club teams are also not eligible for assistance.

 

 

Temporary Special Policy on Collections

Until the point that USA Swimming again permits competitions to be held, receivables from Member Clubs will be permitted to be outstanding for 90 days.  Receivables greater than 90 days past due should be remitted to Ohio Swimming immediately, or a formal payment plan established to provide for eventual full repayment of amounts owed.  Payment plans will be documented in writing and will not include an interest charge.  Payment plans must be approved by the OSI Finance Committee and will be for terms of not greater than one year.

Once competition and training begin again, Member Clubs with balances past due more than 90 days will be placed on cash in advance status before registrations or meet sanction requests will be accepted.  Payments for registrations or meet sanctions must be made in full in advance along with all currently outstanding balances before those registrations or meet sanction requests will be accepted.  For clubs under approved payment plans, payments for registrations or meet sanctions still need to be made in full in advance, but balances subject to the payment plan do not need to be repaid.