The Special Event Budget

1. Special Event Management &
Planning MICE Gathering
TOPIC
Jl IKPN Bintaro No 1, Pesanggrahan,
Tanah Kusir, Jakarta, Special Capital
Region of Jakarta 12330, Indonesia
The Special Event
Budget

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Reasons for Budgeting
• To monitor the financial situation as it relates to the goals and objectives of the meeting
• To understand where the income is coming from and where it is going
• To identify the percentage of income and expenses from individual areas
• To analyze and control expenditures
• To determine areas that allow for an increase (↑) in revenues and a decrease (↓) in expenses to avoid
losses and determine program options
Budgetary Goals
There are three types of goals when setting a budget :
• break even: when income = expense
• To generate profit: when income > expense
• To minimize loss and subsidize if necessary: when income < expense
Income
Income is the money gained as revenue from the MICE event. Sources of funding include:
• Allocation of funds from an organization’s budget
• Revenue generated from: o Registration fees o Exhibition fees o Advertising fees
• Sponsorships
• In-kind donations (goods, services and function space)
Expense Expenses are moneys that need to be spent in order to hold the MICE event. Typical expenses
originate from fixed, variable and indirect costs.
Fixed Costs are costs that have to be met. These expenses remain the same regardless of the number
of delegates.
• Venue/room rent
• Speakers
• Marketing
• Office supplies and expenses
• Multimedia
Variable Costs are costs that vary with the number of delegates. These expenses are based on a per-
person basis.
• Food and beverage (F&B)
• On-site materials
• Ground transportation
• Entertainment
Indirect Costs are listed as overhead or administrative items on a programme budget and are
organizational expenses not directly related to the event.
• Staff salaries
•
• Rental Costs
• Venue and Space
• Equipment
• Security Costs

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• Public (police)
• Private Security Firms
• Equipment - detectors
• Production Costs
• ntertainment/Talent
• Audio-visual, Lighting, and Sound
• Utilities – Electric, Water, Gas
• Décor, Signage, Banners, Pipe and Drape, Carpet
• Labor Costs
• Staff, Greeters, Registration, Ticketing
• Union contractors, Carpenters, Electricians, Riggers
• Marketing Costs
• Talent Costs
Here we are, let’s Breakdown of the Special Event list:
• Participant - interviews
• Media and the press – ask about coverage
• Staff and management – involve them in feedback
• Vendors – how can the event be improved?
• Submit documentation as needed to insurance companies and government agencies
• Final report
• Prepare final written report/summary/evaluation
• Finalize Income and Expense Statement
• Finalize all contracts and compare to final billing
• Send media final press release
• Appropriate thank you notes
• Vendors, talent, sponsors

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