Prepare Your Budget
As you sit down to prepare your budget, there are a few things you need to keep in mind:
- Make sure the objectives of your event are clearly defined.
- Remember, when your expenses exceed your budget in one area, you will need to raise more financial assistance or most likely need to cut expenses in another area.
Most budgets will require you to project and track some or all of the following:
- Fixed expenses: These will include things like speaker fees, room rentals and marketing, that will not change despite the attendance at the event.
- Variable expenses: These will include items like food, beverages and transportation, which will vary according to how many guests attend your event.
- Indirect expenses: Often overlooked, these may include paid student staff hours and supplies that may be needed during the course of the event.
- Hidden expenses: No matter how experienced you are at preparing an event budget, hidden expenses nearly always occur so you should leave some room in your budget for them. These types of expenses often include things like rush or overnight fees for items you may have ordered at the last minute, printing, and overtime for employees.
Within each of these categories there will be multiple line items for expenses such as entertainment, food and beverages, facility costs, personnel, equipment rentals, and signage.
Event budget templates to use when planning your event:
CONTRACTS WITH OUTSIDE VENDORS
Only the Provost and Executive Vice President, the Vice President of Finance and Administration/Treasurer, or an authorized designee are authorized to sign contractual on behalf of CGU. Contractual agreements include, but are not limited to:
- Catering agreements – outside the consortium.
- Hotel reservation contracts.
- Advertising, publishing or promotional contracts.
- Anything that requires a legal liability waiver.
On-line contractual agreements are not authorized. Payment for services on contracts approved by unauthorized personnel will not be approved for payment or reimbursement by the University.
Please refer to CGU’s Policystat website before entering into Contracts with Outside Vendors.
See Brainstorm & Prepare for additional information and resources.
Please contact Jason Espinoza at firstname.lastname@example.org or Darlene Bradley at email@example.com with any suggestions or comments regarding information or materials presented on this portal. Thank you.