The key to developing an income and expense budget is to include every element that may be part of your event. It is better to maintain a complete list of budget items, even if you don't need all of them at this moment, than to overlook an item.
The budget checklist becomes a major part of your overall conference or event checklist. It provides an effective planner “to-do” list and is a valuable asset in making certain that all functions are being considered, strategically and financially.
Income
Registrations:
- Full-paying registrations
- Partial-paying registrations
- Spouses
- Speakers
- Guests
- Organizational leaders
- Exhibits/displays
- Exhibitor personnel
- Sponsorships
- Advertising
- Grants/contributions
Expenses
Food and Beverage:
-
Minimum guarantees
-
Cashiers
-
Gratuities/taxes
-
Surcharges for special events
-
Table centerpieces
-
Print materials (menu, program book, special mementos)
Speakers/Presenters/Entertainers:
-
Fees (what do they include?)
-
Travel (airfare class, out-of-pocket, per diem, ground transport, hotel)
-
AV needs (include equipment for rehearsals, speakers' lounge)
-
Handouts, print materials
Facilities:
-
Meeting/function room rental
-
Room sets, labor, partitions, risers
-
AV (in-house contractor)
-
Signs, monitors, headers
-
Telephone/fax/electronic communications
-
Printing/duplication/copy machine rental
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Lighting/staging/labor (don't forget rehearsals)
-
Security
-
Cleaning
-
Flipcharts, easels, chalkboard rentals
-
Electrical power, electricians
-
Complimentary room provisions
-
Backup facilities (e.g., interior space for inclement weather)
-
Staff gratuities
-
Special licenses, fees
Audiovisuals/Equipment:
-
Breakout and general session equipment
-
Rehearsals and “ready rooms”
-
Labor calls
-
Leadership meetings
Registration/Information:
-
Badges
-
Program books
-
Hymnals
-
Registration kits/portfolios
-
Ribbons
-
Computer equipment rental
-
Admission tickets
-
Registration personnel
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Decorations (booths, headers, signage, lighting, special decorations, etc.)
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Service/information desks
Transportation:
- Shipping, drayage
- Airfare (staff, speakers, leadership)
- Parking
- Airport shuttles
- Limousines
- Transportation for off-site events
Printing/Postage:
-
Advance promotion
-
Registration materials
-
Directional/identification signs
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General correspondence, special stationery
-
Handouts
-
Special notices, press releases, press kits
-
Confirmation correspondence with registrants
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Forms and documents
-
Event evaluation forms
-
Convention and Visitors Bureau materials
Staging and Decorations:
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Pipe and drape for exhibits, displays
-
Risers, stages
-
Lighting and sound for general sessions, breakouts
-
Carpet rental for hard floor registration, exhibit areas
-
Podium signs
-
AV mixers, operators
-
Special electrical hookups
-
Pads, pencils, water stations, other meeting room supplies
Fees:
- Legal fees/contract reviews
- Music licensing fees
- Union charges
- Refuse removal fees
- Insurance riders for special events
- Furniture and equipment rental
- Community taxes, fees
Leonard “Buck” Hoyle, CMP, is a 33-year veteran of the meetings industry and a past RCMA speaker. He has served as chairman of the Convention Industry Council and an adjunct professor at The George Washington University in Washington, D.C.
