A Budget is a quantifiable plan for income and expenditure in measurable terms.
It is required to set your projected income and expenditure in order to demonstrate that your event is financially viable.
It is required to keep receipts and accurate financial records.
The budget determines an acceptable ticket price calculation.
Income is earned through ticket sales and merchandising.
Grants and personal donations serve as unearned income.
Overheads include administration costs, office rental and telephone costs.
Event site costs: logistics, hire of venue, catering equipment and other staging costs.
Artist fees, accommodation, travel and hire of equipment.
Marketing costs of promotion, sub contractors.
It is highly recommended to have public liability insurance and seek legal advice as a risk management strategy.