Establishing a Special Events/Fundraising Budget

Posted by: Area Tent & Canvas on 01/22/2009

Establishing a budget is the process of identifying/managing and anticipating the expenses and income related to an event or meeting. When making a budget try to include ALL possible elements of your concept for your special event. Special Events will fall into 3 categories:

1. Profit--Revenue will be greater than expenses.
2. Break-even--Total revenue will equal total expenses
3. Deficit--Total expenses greater than total revenue.

Try Identifying Expenses:
Fixed: Expenses will remain constant regardless in the number of guests/attendees
Variable: Expenses calculated on a per-person basis (food & beverages)
Indirect: Overhead or admininistative costs (Salaries)
Miscellaneous: Unpredictable charges/expenses
Try to divide budget categories to help in organizes both expenses and income sources. Finally try to stay within your budget and track its accruracy for future events.

Please don't feel disappointed if you fail to stay in our budget... if your event turns out to be the success you hoped it would from the very beginnning, you win! GOOD LUCK!