Budget & Finance


Developing a budget and monitoring your finances is essential in determining the financial viability of your event

  1. Begin with listing all the essential costs for the event. Costs should include administration, event delivery, marketing, communication and contingency dollars for unexpected expenses (normally 10-15% of total budget expenditure).
  2. Then determine any income:

-    Direct Income (ticket sales, programs, catering, car parking)

-    Indirect Income (advertising, sponsorship, raffles, donations).

-    Sponsorships is income. Include any costs incurred in obtaining the sponsorship.

 3. Draw up a cash flow budget is advised which estimates when money is to be received and when it is to be paid out. You should plan to have enough income to pay for accounts as they come in.

 4. As a safety measure, nominate a cut-off date, when a final decision to proceed with the event or not. If income is not going to be sufficient to cover expenses, it is advisable to cancel the event.