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Here are conference budget planning ideas to help create bullet-proof budget management.
An 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:
Factor 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.
Take 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