When you're are the person who is ultimately accountable for organizing a meeting or event, the budget could become your ultimate event planning guide.
Conference and Event Budget Checklist
Here are conference budget planning ideas to help create bullet-proof budget management.
What are Your Sources of FundingDecide in advance which expenses will be covered by your company and event sponsors and what, if anything, might attendees have to pay for.
Create a Simple SpreadsheetAn event planning checklist that lists all possible expenses for all operational areas of your conference or meeting or event, will go a long way to helping you plan for and track expenses.
Major cost areas of meeting planning will include:
- Venue Hire
- Staff time
- Marketing expenses
- Registration expenses
- Air and ground transportation
- Food and beverage
- Entertainment and recreation
- Speakers and training
- Taxes / gratuities
- Other Service charges
- Audio-visual equipment and production costs
- IT / internet costs
Include a 10% contingency fund to cover any unexpected expenses that may arise.
Things to Watch Out ForFactor in expenses for any licenses or public insurance. You could be required to pay a license for music you use or for copyrighted written material you distribute.
Insurance costs may also arise for serving liquor and general liability, as well as business cancellation or interruption.
Keep a Tight Fist on the PurseTake good care of your suppliers. Follow up to ensure that your accounts department settles bills promptly. Keep your own holding account to cover ongoing expenses as they occur.
Meet with your financial officer to review your budget. Ensure that your company's internal accounting system is capturing your expenses effectively.
Remember - it's not your money.
As demands may change for your conference or event, confirm in advance who would have to authorize expenses when they go beyond budget. Conference Planning & Preparation Topics
About Planning Early
Before You Start
What Type of Venue - City or Countryside?
Conference Budget Checklist
Conference Planning Checklist
Event Planning Checklist
Conference Organizing Teams
Conference Planning with Siyabona
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