Sample Event Budget to Succeed Your Upcoming Events
If you are a veteran event organizer, you must be so familiar with creating the event budget. It is an important part of the stairs that leads to the success of your events. Otherwise, if it is your first event, just look for any references whether it is from the people in charge of the previous events, from other similar events, or you might find some online sample event budget to guide you.
Commonly, people create sample event budget in Microsoft Excel, but using Google Sheet is recommended because it allows everyone in your event circumstance to access the current version of your budget. There is access setting that possible for you to decide the people who can only read or who are allowed to contribute in editing the event budget with you. If you have a complex budget, choosing a budgeting-software may be a better consideration to support you.
Basic Elements Composing an Event Budget
Whether you determine to create your own event budget from the very beginning or using a sample event budget, knowing the basic parts will give advantages. Ensure that your event budget contains:
The most basic thing to do in creating an event budget is listing the items. Make it as specific as possible and categorize them to make you easier in dividing your costs.
Add some detail explanation/ description/ additional information on the items you have listed to support your event. The key is to make your data in the event budget as detail as possible, moreover if there is more than one person in charge of the budget. Besides, if your event budget needs to be approved by an authorized person or organization, the description you put will help to understand your needs.
Do not forget to write the number of items you need for your event. Estimate the best quantity and try to make it fit with the initial budget.
- Estimated expenses
Looking at the event budgeting references will help you a lot to set the estimated costs. Make it reasonable and do not forget to prepare some emergency funds.
- Actual expenses
This line will help you to create your upcoming event budgets. An accurate budget will show you that the estimated expenses won’t be so far from the actual one.
Items to Consider for Your Event Budget
As mentioned above, the more detail you put your item in the event budget, the better it will works for the success of the event. The common sample event budget involves the following items, so you may follow and adjust the items for your own budget.
- Venue hire. Consider what kind of venue suits your event best, for example a meeting room, ballroom, hotel convention room, etc.
- AV (Audio & Visual)
- Travel cost. Using social tables’ pocket planners will help you out to set the exact food and beverage quantity.
- Food and beverages
- Marketing costs
Moreover, it is also a good way to prepare for some emergencies and unexpected costs. When the budget is made, all of the items and needs are listed down. Then, the money will be allocated. During this process, it is possible to add another allocation for emergencies. By doing so, it is helpful to create good anticipation.