UNDERSTANDING FINANCE IN EVENT MANAGEMENT. Group Activity Prepare Financial Statement for an Event ...

UNDERSTANDING FINANCE

INEVENT MANAGEMENT

Group Activity

Prepare Financial Statement for an Event

Determine the reason for which the event is held; base the event on a concept and purpose.

Craft a financial statement– Assume figures to suit the need …. …Concerts …Celebrate a unique aspect …Host a mass creative competition …A sporting activity …Raise money for charity …Mark an opening or launch …Promotional Events

Income• Event Income

• Booth Space Sales

• Ticket Sales/Admission

• Sponsors/Underwriters

• Donations

• Merchandise

• Raffle

• Auction

• Ad Program

• Other

Expenses

Event Site/Facility

• Rental Fee

• Permit/License

• Labour

Rentals

• Furniture

• Registration Tables

• Pipe & Drape

• Carpeting/Flooring

•Props

•Tents/Canopies

•Staging

•Stanchions/Ropes

•Labour

Food Services

• Food

• Beverages

• Bartender fees

• Catering fees

• Equipment

• Tables/Chairs

• Glasses & Utensils

• Labour/Staff

• Misc. Charges like

Health Permits

Audio-Visual• Television Monitors

• Cameras

• Projectors

• Screens

• Lecterns/Podiums

• Microphones

• Sound System

• Other Aids

• Pointers/Markers

• Blackboards

• Computer Interfaces

• Technical Staff

Electrical

• General Lighting

• Special Lighting

• Generator

• Extension Cords

• Other Rentals

• Labour

Decorations

• Stage Decor

• Stage Backdrop

• Centerpieces/Table Decor

• Candles / Flowers / Balloons

etc.

• Chair Covers

• Signs

• Props

• Paper Supplies

• Labour

Entertainment• Music

• Talent

• Celebrity

• Speaker's Fees

• Models

• Labour

Utilities / Waste Management

• Restrooms• Trash/Dumpsters• Disposal Service• Setup Crew• Cleanup Crew• Misc.

Promotion / Advertising

• Newspapers• Magazines• Radio• TV • Show Signs• Street Signs• Directional Signs

• Banners• Printed Photos• Promotional Items

Security

• Facility

• Labour

Transportation/Parking

• Car Rental

• Valet Area

• Labour/Personnel

On-Site Transportation

• Truck/Van Rental• Carts/Hand Trucks• Other• Labour

Travel/Accommodations

• VIP Travel

• Car Rental

• Hotel Expenses

• Staff Travel

Compensation to Personnel

• Event Manager• Show/Event Staff• Additional Staff• Overtime• Host/Hostess• Consultants• Public Relations

Emergency Considerations

• Medical

• Ambulance

• Rain Plan Cost

• Canopies/Tents/Coverings

Design & Printing • Designer

• Business Cards• Brochures• Registration Packets• Posters/Flyers• Invitations• Tickets• Miscellaneous

Postage/Shipping/Storage

• Postage• Bulk Mail/Permits• Mail House• Freight• Delivery Service