Date post: | 19-Jan-2016 |
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Planning for ProfitTreasurers Training
Session Plan What is budgeting and why do it? How to plan for profit and tools you can use. Activity: Planning your Circus Party!
What is a budget?An estimate of income and expenditure over a
certain period of time
Importance of the Budget
So you understand what your club/society can afford!
Keeping your society out of debt Providing a financial safety net Aware of where money is going
Benefits of the Budget!
Why do you think budgeting is beneficial?
• Profit!• Fundraising for charity
• Money for club/society equipment• Or just financial stability and security for your
club/society
ActivityBudgeting Timeline
Check your account balance
Decide upon a budget for your
event
Decide upon how much profit you
would like to make
Get quotes from the companies for venues / items
Ensure that your out-goings do not
exceed your income
Decide upon which companies fit into your budget and
book them
After the event put your actual income
into your budget
Review the process and pick out things to change for next
time
Always be realistic with your income (e.g ticket sales)
5 – 6 weeks before 5 – 6 weeks before
At least 5 weeks before 4 weeks before At least 4 weeks before
5 – 6 weeks before
Up to 1 week after Up to 1 week after
Reviewing your Budgeting
• What went right and what went wrong?
• Apply this to other events and pass on your knowledge in your handover!
Budgeting Tools
Activity! Budgeting your own Circus Party
Thank you!Any questions?