Wahoo Aquatics Updated Finance and Billing Policy

RRV Wahoo Board of Directors

Hello Wahoo Families,

We hope your swimmers are enjoying being back in the water as much we are!

During our forced hiatus, the Board has taken the opportunity to review our financial standing. As a result of state being cancelled, the loss of anticipated meet revenue of approximately $25,000 was a devastating hit to our finances.

The Red River Valley Wahoos are a small nonprofit 501c7 which operates primarily through membership fees and tuition.  Our primary business expenses include pool rental, coaches’ salaries, travel meet expenses, and team activities. We are not a money-making organization and our primary financial goal is for our income to simply match our expenses.

Through a review of our current billing process we discovered many accounts with outstanding balances. In addition, we have reconsidered our practice of paying out meet fees without first collecting them from families. Our current account balances and cash flow are unable to sustain this burden. Going forward the Wahoos will be implementing the following procedures effective July 1st, 2020

  • Swimmers with balances 30 days or more past due will not be allowed to register for events, such as meets.
  • Swimmers with balances 60 days or more past due will not be allowed to attend practice.
  • A credit/debit card or ACH to be on file in your member account to be eligible to register for meets or special events.
  • Meet fees to be paid in full prior to the meet for a swimmer to participate.
  • Late fees will be assessed once an account has reached 15 days past due

With these new policies in place the Wahoo Board of Directors will support families in the following ways:

  • Provide families with a detailed description of how to check and pay account balances, including how to turn on auto pay
  • Remind families of upcoming meet expenses and deadlines
  • Provide families with an estimated cost of participation for the season including tuition and anticipated meet fees
  • Work with families who may be experiencing a financial hardship

 

If your account is currently past due and you are unable to bring it to a zero balance by July 15th, please contact a board member to discuss a payment plan.  

Thank you for your continued commitment to the Wahoos. If you have any questions on these new policies, please reach out to rrvywahooboard@gmail.com.

 

Wahoo billing and finance policies 2020