Week 3 Assignment

Submit a draft of the event budget for your course project.

Your event budget should include needed funds to operate the event. Indicate if the funds are coming from sponsorship, attendance, and profit operations within the event. Also include if this is a for-profit, break-even, or not-for-profit event. Please review a typical budget format for an event.

What Is a Budget?

A budget is a forecast of all cash sources and cash expenditures. It is organized in the same format as a financial statement for each event. At the end of the event, the anticipated income and expenses developed in the budget are compared to the actual performance of the business as recorded in the financial statement.

A budget is an indispensable tool for converting plans into a successful event. The budget helps focus your thoughts on the direction in which you are headed in an event. It indicates how much cash you have to spend, your expenses and how much you need to earn. By planning on paper first, you minimize the risks associated with your event planning endeavor. A good budget can build morale by helping you organize, communicate and motivate employees to do their part in achieving the events financial goals.

Category / Points / Weighting / Description
Understanding / 20 / 44% / Demonstrate a strong grasp of the budgetary process.. Demonstrate understanding of how budgets apply to events. Apply a budget for your semester project. A quality paper will have a significant scope and depth of research to support any statements. Relevant illustration or examples are encouraged.
Analysis / 20 / 44% / Apply original thought in preparing your budget. Apply concepts from the course material in preparing the budget. Make sure you cover all aspects of the categories in an event budget.
Execution / 5 / 11% / Prepare a budget that is organized, concise, coherent, and can be easily read and understood.
Total / 45 / 100% / A quality budget will meet or exceed all the above requirements.