Funding and Evaluation of Events

8/19/2019 Funding and Evaluation of Events

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FUNDING AND

EVALUATION OFEVENTS


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Funding

Adequate funding is essential for a

successful event. Te !iggest "ista#e ofevent organi$ers is to ost an event%itout adequate &nancial su''ort. To doso %ill result in te failure of te event.

Budgeting

(areful !udgeting is vital for tesuccess of te event. A !udget is anesti"ate of inco"e e)'enses.


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Eac activit* sould anal*$ed as follo%s+

,. Te s'eci&c activit* to !e underta#en

-. Te esti"ated cost of eac activit*. Te !ene&t of eac activit*

/. Te inco"e for" te activit*

0. Te necessit* of te activit*1. Te 'lace of te activit* in te !udget

'riorit*

2.

3o% te e)'enditure of te activit* can!e "onitored

4. 3o% te inco"e %ill co"e in and o%certain it is


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Financial Structure

After te organi$ers ave agreed to

'us troug %it te event5 te &nancialstructures need to !e esta!lisedi""ediatel*. Te &nancial structures "a*!e si"'le %it a treasurer controlling all

te &nances or it "a* ver* co"'licatedinvolving several co""ittees and even'aid sta6 to "anage te &nances.


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Control

Te careful control of &nancial transactions is a vitalas'ect of event "anage"ent. Various control s*ste"s are

necessar* to #ee' s'ending %itin agreed li"its. Failure toi"'le"ent 'ro'er control over !udgets %ill lead to confusion.

The following are practical steps to follow foreective nancial control+

,. Li"it te nu"!er of 'eo'le %o can incur e)'enditure.

-. 7ee' accurate records of all inco"e e)'enditure.

. Use a''ro'riate record8#ee'ing "etods to #ee' &nancialinfor"ation correct5 current and readil* availa!le.

/. Ensure tat te relevant structures cannel &nancialco""it"ent troug &nancial records #ee'ers.

0. Ensure tat &nancial infor"ation is %idel* circulated to alltose %o require it.

1. 9roduce s*ste"s and infor"ation tat are clear andunderstood !* ever*one.


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Sources of Funding

,. Local autorit* leisure de'art"ent

-. Education autorit*

. Local or national s'orts council

/. Local or national arts council

0. Foundation for s'orts and e Arts

1. Local or national tourists autorities

2. S'onsorsi' agencies4. :usiness agencies

;. 9rofessional institutions

,


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Various activities:

,. Francising

-. Tic#eting

. Entr* fees

/. Fundraising

0. Donations

1. 9rogra"s

2. =a>es

4. Souvenirs

;. (atering

,


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Fundraising

,. s'onsored runs5 s%i"s5 c*cles

-. Dances5 discos

. araton s%i"s5 %al#atons/. Lotteries5 ra>es

0. Ga"!ling evenings suc as casino nigts and race nigts

Sponsorship

1. Bello% 'ages and local tele'one directories

2. Local and national ne%s'a'ers

4. :usiness organi$ations suc as (a"!ers of (o""erce

;. 9rofessionals suc as la%*ers and arcitects

,


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Some tips on looking for sponsorship:

,. Use i"agination and innovation

-. 9ut in te "ar#eting e6ort. (learl* de&ned te t*'e of "ar#et

/. (onsider canging te nature of *our activit*5event or 'ro"otion

0. Access *our s'onsors troug te (a"!er of(o""erce or =otar* (lu!

1. Assess res'ective i"ages

2.

A''roac unli#el* targets4. Do te necessar* researc

;. (ec# e)isting s'onsors

,


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Criteria for event Evaluation

A co"'reensive evaluation 'rocedure is essential for ever* event. It"ust !e carried out trougout te event and at te end.

,. 3ard (riteria8 are te out'uts

8tangi!le and quantitative

3ard (riteria are+

. Deadlines

. 9erfor"ance

. S'eci&cations

. S'eci&c qualit* standards. (ost require"ents

. And resource constraints

-. Soft criteria8 refer to te 'rocess

Soft criteria+

. (oo'erative attitude. A 'ositive i"age

. Sta6 co""it"ent

. Total qualit* and etical conduct


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Documents

Funding and Evaluation of Events