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Budget Tips and Sample Worksheet

Creating Your Budget Planner

  • Your meeting budget is an estimate of anticipated income and expenses for your meeting and provides financial control and accountability.
  • It’s important to document how and why you arrived at all figures. You can keep track of your calculations used to arrive at each budged items through Excel spreadsheets. (Download now.)

Seven Common Mistakes

  1. Know the value of your business
  2. Allow contingencies for the unexpected
  3. Include tax and service charges
  4. Include labor costs
  5. Communicate clear policies to speakers/staff
    • Type of airline ticket (coach, business, first class)
    • Type of hotel room & how many nights you’ll pay
    • What meals are included
  6. Review master account daily
    • Limit authorized signatures
  7. Rely on history for your meal guarantee

Food and Beverage Tips

  • Theme events using ethnic foods that are less costly
  • Serve light lunches such as salads rather than heavy entrees
  • Cut down on portions
  • Use boxed lunches, if appropriate
  • Negotiate complimentary receptions
  • Shorten time of receptions
  • Use butler service instead of buffet tables
  • Use meal tickets
  • People drink less at cash bars
  • Order by consumption, not per person
  • Piggy back on another meeting’s menu

Sleeping Rooms

  • Comp rooms – don’t settle for 1/50
  • Get cumulative, not nightly count
    Pick-up Mon. 49 Tues. 49 Wed. 49
    Nightly:   0 comp rooms; Cumulative  2 comp rooms

Negotiations

  • EVERYTHING IS NEGOTIABLE
  • Rates/Dates/Space-pick 2 of 3
  • Use Value season/holidays/days of week or Hot Dates

Sponsorship

  • Sponsorship of meal functions
    • Serve dessert near sponsor’s booth if trade show follows lunch
  • ALMOST everything can be sponsored
  • Marketing assistance
    • Provide financial incentives for suppliers to promote meetings

Signage

  • Create permanent generic reusable signs with update information on Velcro
  • Prepare room signs listing all meetings in that room throughout the meeting
  • Use hotel sign boards

Shipping/Postage

  • Prepare a timeline with deadlines to take advantage of least expensive shipping rates.
  • Check post office regulations before creating mailings.
  • Barter with shipping companies to send your shipments at no charge.

Miscellaneous

  • Check travel costs during site selection
  • Recycle badges
  • Take advantage of using the Convention & Visitors Bureaus (CVBs)
  • Consider outsourcing to save time and money
  • Select hotels that offer frequent flyer points that can be used for speakers, staff, or ttendees

Revenue

Account Revenue Projected Annual Variance
100 Registration Fees      
101 Early Bird      
102 Regular      
103 On-site      
104 Sponsorships      
105 Exhibitor Booths      
106 Exhibitors      
107 Micellaneous      

Expenses 

Account
Number

Expense

Projected

Annual

Variance
100 Sleeping Room      
200 Food & Beverage      
300 Audio Visual      
400 Printed Materials      
500 Administration      
600 Speaker Fees      
700 Miscellaneous      

Sleeping Rooms 100

Names Master
Account
Type of
Rooms
    #
Nights
Room
Rate
Taxes: Sales/
Occupancy

Subtotal
Fee/Service
Charges
Total
Room Rate
Staff              
Clients/
Meeting Sponsors
             
Speaker/
Special Guests
             
Attendees              

Food & Beverage 200 


Meal

Cost
Service
Charge %
Tax
 %
Semi
Total

# People

Total
Breakfast          
Lunch          
Refreshment
Break
           
Dinner            
Reception            
Hospitality
including bartenders
           

AV Equipment 300 

Category Cost Tax Labor Total
Equipment Rental        
Material Production      

Printed Materials 400

Category Description Cost Quantity Subtotal Taxes Total
Name Badges          
Tent Cards            
Signage            
Stationery/
Envelopes
           
Programs            
Delegate Registries            
Flyers            
Handouts/Binder            

Administration 500

Category Description Cost Notes
Professional Fees      
Clerical Wages      
Telephone      
Shipping      
Postage      
Business Center      
Miscellaneous      

Speaker Fees 600

Category Fee Expenses Total
Keynote Speaker      
Featured Speakers      
Workship Speakers      

Miscellaneous 700

Category Description Cost Notes
Meeting Room Charges      
Extra Gratuities      
Attrition      
Cancellation      
Contingencies    

Keep track of your calculations for budged items using these Excel spreadsheets.
 ScribeAmerica
 
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