Avalanche and Blizzard are two flagship events at CBOQ Youth. Before we finished the 2016 event, we had already started planning for 2017. Part of that includes how we set our budget.
While we won’t get into the dollar figures, there are some key elements to consider in any event budget:
- Venue: Check with the facility to ensure you understand the costs involved (e.g. space rental, food, insurance, etc.). You will likely need to provide a certificate of insurance (which may have a cost to that as well).
- Speaker and band: Check to ensure you have an understanding of what their requirements are (including accommodation preferences, technical needs, etc.). Discuss what your honorarium includes (e.g. is travel separate or included?). Note: If you’re bringing someone outside of Canada, check on the tax requirements (e.g. if you’re bringing an American to speak, you typically have to hold back 15%, so discuss if your honorarium is a net or gross figure).
- Transportation: Are you responsible for transporting the participants? If so, consider not just the cost of a rental (for example, a bus), but also what insurance requirements and liabilities you need to be aware of. (Some personal car insurance policies will not cover accidents if that person was driving on behalf of an organization.)
- Communication tools: While cell phones may be enough for your team to communicate with one another, check into other options such as radios.
- Activity supplies: What items do you need to run your recreation activities, from sports equipment to more disposable items for Minute to Win It games?
- Audio-visual equipment: This includes everything from sound, lights, cameras and other AV elements. If the equipment at the facility is insufficient, you may need to consider renting.
- Team/staff requirements: What do you need to provide to ensure your teams are able to complete their responsibilities? Are you expecting them to cover all of their expenses or will you build some recuperation (e.g. for travel) through your income streams?
- Sponsorships: Do you want to have sponsors for your events? For instance, some retailers may be willing to donate certain goods in exchange for a promotional shout-out. You’ll have to determine whether you want those sponsorships and whether their requests align with the purpose of your event.
This isn’t an exhaustive list, but some items to keep in mind as you plan for your next event.
What else would you add?
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