{"id":408,"date":"2024-04-10T03:10:06","date_gmt":"2024-04-10T03:10:06","guid":{"rendered":"https:\/\/mastertheevent.com\/?p=408"},"modified":"2024-04-10T03:10:06","modified_gmt":"2024-04-10T03:10:06","slug":"compiling-a-budgets-checklist-for-your-meeting-or-event","status":"publish","type":"post","link":"https:\/\/mastertheevent.com\/compiling-a-budgets-checklist-for-your-meeting-or-event\/","title":{"rendered":"Compiling a Budgets Checklist for Your Meeting or Event"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_65 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<p class=\"ez-toc-title\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-662ca06167e3b\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-662ca06167e3b\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/mastertheevent.com\/compiling-a-budgets-checklist-for-your-meeting-or-event\/#Meeting_and_Event_Budgets_Checklist_Items_to_Be_Included\" title=\"Meeting and Event Budgets Checklist Items to Be Included\">Meeting and Event Budgets Checklist Items to Be Included<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/mastertheevent.com\/compiling-a-budgets-checklist-for-your-meeting-or-event\/#A_budgets_checklist_is_not_necessarily_an_exciting_part_of_the_meeting_planners_job_However_it_is_a_vital_part_of_doing_their_job_correctly_If_you_want_to_avoid_unexpected_costs_its_recommended_that_you_take_the_time_at_the_beginning_to_put_a_budgets_checklist_together_You_dont_want_any_additional_cost_surprises_as_a_result_of_poor_event_planning\" title=\"A budgets checklist is not necessarily an exciting part of the meeting planner\u2019s job. However it is a vital part of doing their job correctly. If you want to avoid unexpected costs it\u2019s recommended that you take the time at the beginning to put a budgets checklist together. You don\u2019t want any additional cost surprises as a result of poor event planning.\">A budgets checklist is not necessarily an exciting part of the meeting planner\u2019s job. However it is a vital part of doing their job correctly. If you want to avoid unexpected costs it\u2019s recommended that you take the time at the beginning to put a budgets checklist together. You don\u2019t want any additional cost surprises as a result of poor event planning.<\/a><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n\n<p>The good news today is that meetings and events are still happening \u2013 even in this economy. Budgets, however, are usually one of the first words you hear from a potential client. For those of you that are working on your own events, compiling a budgets checklist is a vital part and will help you get a clear picture of how much that event will cost. Or, rather, how much you can afford to spend on that particular event.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Meeting_and_Event_Budgets_Checklist_Items_to_Be_Included\"><\/span>Meeting and Event Budgets Checklist Items to Be Included<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>In this post were going to talk about a budgets checklist for an event. The goal here is to provide you with the basic framework that you can use and tailor to your event. The purpose of the budgets checklist is to make sure you\u2019re preparing for every aspect of the event. In other words you do not want something to pop up unexpectedly that you did not necessarily plan for when budgeting for your event.<\/p>\n\n\n\n<p><strong>The following items are what you would consider when hosting an event;<\/strong><\/p>\n\n\n\n<p><strong>Transportation<\/strong>&nbsp;\u2013 if you\u2019re providing transportation by coach, paying for parking, valet service etc.<\/p>\n\n\n\n<p><strong>Facility rental<\/strong>&nbsp;\u2013 if you\u2019re using a venue exclusively quite often you will have to pay the facility rental fee to have it privately.<\/p>\n\n\n\n<p><strong>Additional facility costs<\/strong>&nbsp;\u2013 don\u2019t get caught off guard. Double check to see if there are additional charges for items such as audiovisual, coat check, cleaning costs etc.<\/p>\n\n\n\n<p><strong>Food<\/strong>&nbsp;\u2013 many venues have a preferred list of suppliers. One tip to help keep your costs down is to check with the venue to see if they have an in-house caterer. Quite often an in-house caterer is less expensive than bringing a caterer inside even if they are on the preferred list.<\/p>\n\n\n\n<p><strong>Beverage<\/strong>&nbsp;\u2013 if you\u2019re hosting a bar make sure you\u2019re budgeting properly. An early evening function usually sees around three drinks per person. Of course the later in the evening your function is occuring chances are your consumption may also increase. Also check with the venue and\/or the caterer to see if there are additional charges in obtaining special occasions liquor license.<\/p>\n\n\n\n<p><strong>Gratuities<\/strong>&nbsp;\u2013 do not get caught off guard as this could increase your food and beverage cost from 15 to 20%. Make sure that the prices you are being quoted include gratuities, if applicable,<\/p>\n\n\n\n<p><strong>Service and equipment charges<\/strong>&nbsp;\u2013 many venues do not have in-house kitchens. This can double your catering costs. If you\u2019re looking to save on your budget I suggest you look at facilities that have an in-house kitchen as it will greatly reduce or keep your cost down. However if your venue does not have an in-house kitchen make sure you get a quote from your caterer on what the additional service and equipment costs are.<\/p>\n\n\n\n<p><strong>Entertainment<\/strong>&nbsp;\u2013 of course live entertainment is more expensive than recorded music. Even if you choose recorded music there are often union fees that are associated with playing such music in a public area. Not that it will blow your budget but it is an item line that you should be aware of.<\/p>\n\n\n\n<p><strong>Decor<\/strong>&nbsp;\u2013 I often discuss decor with clients at the very beginning. My advice is to keep your decor cost low looks for venues that offer an ambience that can fit your event and thus keep your decor cost down. However, even table centerpieces can have an impact on your budget so make sure you include that.<\/p>\n\n\n\n<p><strong>Taxes<\/strong>&nbsp;\u2013 no one likes to pay taxes but, like death, taxes are a certainty. Sometimes if you\u2019re out of country you\u2019re able to recoup any value added taxes (VAT or HST in Canada). Check with your local suppliers and even the country\u2019s government websites for information on getting any applicable tax refunds that you are entitled to. You\u2019d be surprised how many people do not apply for refunds that are rightfully theirs.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"A_budgets_checklist_is_not_necessarily_an_exciting_part_of_the_meeting_planners_job_However_it_is_a_vital_part_of_doing_their_job_correctly_If_you_want_to_avoid_unexpected_costs_its_recommended_that_you_take_the_time_at_the_beginning_to_put_a_budgets_checklist_together_You_dont_want_any_additional_cost_surprises_as_a_result_of_poor_event_planning\"><\/span>A budgets checklist is not necessarily an exciting part of the meeting planner\u2019s job. However it is a vital part of doing their job correctly. If you want to avoid unexpected costs it\u2019s recommended that you take the time at the beginning to put a budgets checklist together. You don\u2019t want any additional cost surprises as a result of poor event planning.<span class=\"ez-toc-section-end\"><\/span><\/h4>\n","protected":false},"excerpt":{"rendered":"<p>The good news today is that meetings and events are still happening \u2013 even in this economy. Budgets, however, are usually one of the first words you hear from a<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"acf":[],"_links":{"self":[{"href":"https:\/\/mastertheevent.com\/wp-json\/wp\/v2\/posts\/408"}],"collection":[{"href":"https:\/\/mastertheevent.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mastertheevent.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mastertheevent.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/mastertheevent.com\/wp-json\/wp\/v2\/comments?post=408"}],"version-history":[{"count":1,"href":"https:\/\/mastertheevent.com\/wp-json\/wp\/v2\/posts\/408\/revisions"}],"predecessor-version":[{"id":409,"href":"https:\/\/mastertheevent.com\/wp-json\/wp\/v2\/posts\/408\/revisions\/409"}],"wp:attachment":[{"href":"https:\/\/mastertheevent.com\/wp-json\/wp\/v2\/media?parent=408"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mastertheevent.com\/wp-json\/wp\/v2\/categories?post=408"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mastertheevent.com\/wp-json\/wp\/v2\/tags?post=408"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}