This document provides information about balancing a festival budget. It discusses ensuring estimated income covers all expected costs with some contingency for unexpected expenses. It prompts examining budget tables to check if income is realistic given ticket prices and attendance projections. Adjustments may need to be made if some expenditure items are not essential. A sample festival budget table is provided to balance income against expenditure.

1. Creative and Media: Level 2 Higher Diploma Unit 6: Festival
Level 2 Higher Diploma Creative and MediaUnit 1: Scene
6.2.7 Budget C
Student Book
pp 186–95
Balancing the budget
It is important that your budget balances and that your estimated income is realistic and
will cover all the costs the festival is likely to incur and includes a contingency for
unforeseen costs.
You should now try to balance your budget. Begin by subtracting the figure you calculated
for the total expenditure of the festival from the total estimated income. Are you left with
a positive amount of money, or is your expenditure more than your estimated income?
Examine both tables created in exercise A and consider the following questions.
1 Is your estimated income realistic?
Yes, I calculated the profit which means that expenditures are covered so it is not just
the total earnings.
2 If it includes ticket sales, have you been realistic about the number of people who are
likely to attend the festival?
Our festival is free so there are no ticket sales
3 Is the price of your tickets reasonable?
Does not apply.
4 Are all your items of expenditure essential or could you do without some items if
necessary?
Yes, instead of buying a lot of popcorn we can use a popcorn machine and save
money.
Make any adjustments you need to and draw up your festival budget in the table below.
Income Expenditure
Item Amount Item Amount
Food stall £20 (only profit after Pop corn machine £20
taking money out that Popcorn £3
has been spent on
the ingredients) Security guard £75
Bouncy Castle £75
Nail/face bar £80
Total income £20 Total expenditure £263
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