Festivals Toolkit: Financial Planning

Your budget is a critical management document and should include all likely costs at the ‘ going rate’ and reflect good practice with regard to remuneration for the arts practitioners involved. As budgeting is also fundamental to fundraising always resist the temptation to give a gloss to your projections – inflating income, deflating expenditure – to create a better picture.

Depending on the nature of the event, your budget headings may include:

Expenditure/Payments

  • artists' fees and expenses
  • organisers’ time and expenses
  • administration and related costs including telephone, stationery and postage
  • venue costs
  • insurance
  • license fees e.g. entertainment license; costs of copyright clearance
  • equipment purchase/hire
  • technical support including technicians’ fees, set-up or installation costs
  • invigilation and event management costs
  • publicity and marketing e.g. advertising, print and distribution costs, database management
  • professional fees e.g. auditors
  • staff training and development
  • evaluation – both during and after the event
  • contingency against unforeseen costs – often recommended at 5%

Income/Receipts

  • earned income e.g. ticket sales; fundraising activities; workshop fees
  • sponsorship either as support in-kind (for example, the use of someone’s equipment or professional time) or cash
  • in-kind support or cash from venue or event partner
  • grants from public funding bodies or charitable trusts/foundations
  • commission on sale of artworks

It is often difficult to secure enough funds to realise the ‘dream' budget.  Be prepared to scale down the project if necessary and develop a realistic contingency plan.

See Dumfries and Galloway Council’s The Event Organisers Toolkit  for sample financial planners.



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