Free Event Budget Template
An event budget template is used to plan the finances related to event management, which includes the incomes obtained, which may be in the form of sponsorships or registration/ticket charges and the expenses which might be food, accommodation, sound, gifts, etc. The difference obtained is the profit or loss made from organizing the event. If the balance amount is positive, it means that the event has made some money, and if the balance amount is negative, it means the event organizer had to spend from his/her pocket.
Please refer to the excel file for the template. The template used here is for a typical event like an office seminar where different expenses and incomes related to organizing such an event are captured. The expense and income have been shown in two separate sections.
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About the Event Budget Template
- The event budget template captures all the sources of income one has for organizing the event and also the spending. It sets up an initial budget balance and also gives end balance projection, which is expected to be there after deductions of all the expenses from the incomes. Here we have specifically taken an example of organizing an event for the purpose of a seminar.
- The seminar can be an office seminar where we have some 200 attendees estimated to attend, and the organizer has to bear their food and also to gift them some custom made goodies. The goodies are used as a promotion source for the company and usually provided by a third-party vendor.
- Here we capture the overall expense and income made for organizing the event, which here we have taken an example of a seminar. The seminar is organized for an office delegation where estimated attendance was planned to be 200, but we had around 150 attendants.
- The expenses here are further divided into location, program, food and drinks, supplies, and others. The balance amount here shows if money was spent extra than the set budget or we had some income after organizing the event. The graph was shown to give a pictorial view of the expenses and actual income with the estimated income.
- In this section, we show a breakup of the expenses made to organize the event. In our case, we are taking the example of an office seminar. For organizing such an event, there are a couple of fields where the expenses need to be made. The most significant amount for organizing the event is towards the location or the event hall. Depending on the location of the event, the rates of organizing the event vary.
- The second-highest cost of organizing the event is catering or food. It varies according to the number of attendants and generally estimated more than the number which attends the event. It is primarily done to keep a buffer on the number of attendees to an event so that they don’t fall short of food plates.
- Then there is the cost related to speakers or the electronic instruments used in the event. These are some mandatory cost which is needed for organizing any kind of event. For every event held, there is a gift or custom made goodies given to the attendees, which are again is based on the headcount attending the event.
- These are generally tied up with third-party vendors who supply the goodies based on the headcount. These are considered more promotional items which the company uses to promote their name. Also, these act as a feel-good factor for the attendants of an event.
- The last and final cost for organizing a seminar is the miscellaneous costs like petty expenses. Still, these should also be accounted for in the overall expense to get a final picture of the cost of organizing the event.
- The final part here is the income or the funding part of the event. Any event is not possible if there is no funding or income generated. No business will organize an event if there is no funding or profit which will be earned from it.
- The prime source of income or funding, which happens in any kind of event is the registration price or the tickets sold for the event. Here the income is generated on a per head basis.
- The attendees attending the event have to pay up upfront for the registration or the ticket to the event, and in this way, the organizer makes money to cover up the event. The second source of income for any kind of event is the sponsorship fees, which come very handy to arrange the event.
- Sponsors, in a way, get a promotion too in such places where people in significant numbers come and attend the event. It becomes a win-win situation for both the organizer and the sponsor, and in the way of sponsorship fee, the organizer gets a second source of income. The sponsor receives a form of promotion among a lot of crowd under a single roof.
- Thus the overall income generated is shown in this section for arranging an event. It now depends on the size of the event held, what is the target income or money the organizer is planning to raise to cover up the expense.
How to Use This Template?
The template comes very handily, managing the event management related expense and income for every organizer. The primary aim of using the template is to capture the entire income source and match it with all the expenses which an organizer has to bear for every event held. It includes both recurring and non-recurring. The result obtained or the difference obtained is compared with a set budget amount which has been set at the start of the month, and finally, we arrive at a net. The template is very useful when one needs to know the cash inflow and outflow for organizing an event.
This article has been a guide to Event Budget Template. Here we provide you with a free event budget template that is used to plan the finances related to event management. Also, you can download and use this template in Excel, Google Sheets, or in PDF format.
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