UNDERSTANDING FINANCE IN EVENT MANAGEMENT
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Transcript of UNDERSTANDING FINANCE IN EVENT MANAGEMENT
UNDERSTANDING FINANCE
INEVENT MANAGEMENT
Group Activity
Prepare Financial Statement for an Event
Determine the reason for which the event is held; base the event on a concept and purpose.
Craft a financial statement– Assume figures to suit the need …. …Concerts …Celebrate a unique aspect …Host a mass creative competition …A sporting activity …Raise money for charity …Mark an opening or launch …Promotional Events
Income• Event Income
• Booth Space Sales
• Ticket Sales/Admission
• Sponsors/Underwriters
• Donations
• Merchandise
• Raffle
• Auction
• Ad Program
• Other
Expenses
Event Site/Facility
• Rental Fee
• Permit/License
• Labour
Rentals
• Furniture
• Registration Tables
• Pipe & Drape
• Carpeting/Flooring
•Props
•Tents/Canopies
•Staging
•Stanchions/Ropes
•Labour
Food Services
• Food
• Beverages
• Bartender fees
• Catering fees
• Equipment
• Tables/Chairs
• Glasses & Utensils
• Labour/Staff
• Misc. Charges like
Health Permits
Audio-Visual• Television Monitors
• Cameras
• Projectors
• Screens
• Lecterns/Podiums
• Microphones
• Sound System
• Other Aids
• Pointers/Markers
• Blackboards
• Computer Interfaces
• Technical Staff
Electrical
• General Lighting
• Special Lighting
• Generator
• Extension Cords
• Other Rentals
• Labour
Decorations
• Stage Decor
• Stage Backdrop
• Centerpieces/Table Decor
• Candles / Flowers / Balloons
etc.
• Chair Covers
• Signs
• Props
• Paper Supplies
• Labour
Entertainment• Music
• Talent
• Celebrity
• Speaker's Fees
• Models
• Labour
Utilities / Waste Management
• Restrooms• Trash/Dumpsters• Disposal Service• Setup Crew• Cleanup Crew• Misc.
Promotion / Advertising
• Newspapers• Magazines• Radio• TV • Show Signs• Street Signs• Directional Signs
• Banners• Printed Photos• Promotional Items
Security
• Facility
• Labour
Transportation/Parking
• Car Rental
• Valet Area
• Labour/Personnel
On-Site Transportation
• Truck/Van Rental• Carts/Hand Trucks• Other• Labour
Travel/Accommodations
• VIP Travel
• Car Rental
• Hotel Expenses
• Staff Travel
Compensation to Personnel
• Event Manager• Show/Event Staff• Additional Staff• Overtime• Host/Hostess• Consultants• Public Relations
Emergency Considerations
• Medical
• Ambulance
• Rain Plan Cost
• Canopies/Tents/Coverings
Design & Printing • Designer
• Business Cards• Brochures• Registration Packets• Posters/Flyers• Invitations• Tickets• Miscellaneous
Postage/Shipping/Storage
• Postage• Bulk Mail/Permits• Mail House• Freight• Delivery Service