Escrow Payments
This year we will be having ALL of our company on an Escrow account. It seems that all of our fee’s for things like competitions, costumes, conventions, and more tend to happen at the same time. To help alleviate some of that financial burden we will be adding up the fees we anticipate, and dividing them by 10 months. Jul. Through Nov, Skipping December, Then Jan-May That way all fee’s are paid by May, when all fee’s are usually due. The May payment may be less, or slightly more depending on the balance. I will give you an Escrow Statement at the end of each 5 month semester to let you know where we are and what was deducted and for what.
Below is an example of what a typical fee may be. We will adjust this according to the amount of classes a student takes.
Example of Company Member who does: 3 classes (Ballet, Jazz, Modern)
Costumes for Winter: $240
Costumes for Spring: $240
Competition: $270
(3 dances, 2 competitions)
Convention: $500
Company Fee: $200
*Make up kit: $60
Warm ups : $150
Total for the year: $1660
Divided by 10 = $166 monthly payments beginning in August Ending in May
If you choose to pay all up front must be paid by August.
You can make larger payments but the minimum is $166/month.
Each student will have a different amount based on the classes that they are taking. You will receive a personal Escrow letter stating the proposed fee’s. Of course we will try to reuse what costumes we can as we have done in the past! This money IS refundable! Please keep in mind that none of these fee’s are new! This is what you have been paying, but now you will not be hit with as big of a bill all at once. If you prefer to pay ahead, or larger chunks you most definitely can.
Here is a sample of how it will break down so you can better plan:
Costumes for Winter Show: ____________
(Number of dance x $80)
Costumes for Spring Show: ____________
(Number of dance x $80)
Competition : ____________
Number of dances x $45
Convention Fee’s: $500
Company Fee: $200
Make up Kit Needed: _____________
($45.00 all items needed)
Warm ups: $150.00 ___________
Total ____________
Total Divided by 10 = Monthly breakdown ___________
**** This is an ESTIMATE! The Final amount due will be adjusted in May to reflect any changes!***