Securing resources and budgeting

• Most programs and events require resources in order to operate.  These resources can be financial (money), human (staff and volunteers), capital (facilities, equipment), or operational (supplies, etc.)

• In this section of the course we will take a look at resource attainment plans, program and event budgets, and season end budgets.  The emphasis is placed on having the learner know how to identify and plan for resources, secure them, and manage them for effective programs and events.

First step

• List all the things you will need to pull off your event:

– Facilities

– Staff and volunteers

– Equipment

– Supplies

– Prizes

• Ask yourself – which of these do you have covered and which do you require?

• Those that you require can either be purchased or obtained through other means (gifts and donations, in-kind contributions, sponsorship, scrounging, partnerships or volunteers).

Second step

• Develop a resource attainment plan to ensure that you secure each of the resources you need for your program or event.

• Determine who will get what, where, and by when.

• Remember to recognize everyone who contributes resources (sponsors, volunteers, donations, grants etc.)

• List all other items as expenses within your budget.

Third step

• Draft a proposed budget• Use a consistent format for all your program and

event budgets:– Date prepared, by whom– Name of program– Expenses first, revenue second– Clear line items– Totals for expenses, totals for revenues– Total at the end of the budget– Net profit or loss

Listing expenses - tips

• Be liberal in your projected expenses and conservative in your projected revenue – that way you will always reach your target.

• List everything, consider adding a contingency fund.

• Differentiate between fixed costs and variable costs when drafting your budget.

• Determine what your financial goals are – to make money? To break even (cover costs)? Or to run something for free?

Fourth step

• Determine your price for the program or event.• Set as well a minimum or a maximum number for your event to

ensure you cover costs.• For free programs or events – price is not an issue.• For break even programs or events – you will need to ensure that you

have a minimum # set and that your price x that number = covered costs.

• I.e. $100 expenses – covered by minimum 10 people paying $10.00 each (price)

• For a profit – you should also set a minimum #, set your price x that number and then factor in a percentage for profit.

• I.e. $100 expenses – covered by minimum 10 people paying $10.00 (covering costs) + 20% profit for a price of $12.00 each.

Fifth step

• Carefully monitor cash flow for the event.

• Carefully monitor the minimum numbers for the event. Have a deadline to determine whether or not to cancel it.

• Ensure credit is given to all sponsors, donations etc.

Sixth step

• Ensure all money is deposited or refunded.• Record numbers of final participants in your

budget.• Record the ACTUAL numbers in your budget.• Record whether or not the program or event

reached its financial goal.• Make recommendations for the program or event

for next year.