Committee Budget and Expenses Dana Lambert, New Jersey National College Fair Chair Rachel McCoy, Associate Director National College Fairs Programs & Services

Committee Budget and Expenses Budget Memo Approximately three months before the fair you will receive a budget memo from your designated Event Manager.

Committee Budget and Expenses What your budget covers Exhibitor Hospitality (Largest Expense) Costs Associated with Committee Meetings Marketing Costs (printing, postage, etc…) Costs Associated with the Fair Parking Mileage Meals Fair Supplies Welcome materials for Exhibitors

Committee Budget and Expenses How to Access Funds Eligible expenses may be sent to NACAC for payment or reimbursed after the fair Chairpersons may also request cash advances up to $500.00 Any expense over $500.00 must be sent to NACAC directly for approval and payment.

Committee Budget and Expenses Reimbursement Requirements Receipts are required for ALL reimbursements. When receipts are not obtainable (i.e. parking for volunteers), provide an itemized list with the recipient’s signature. After the fair, Chairs have 45 days or until December 15th (whichever comes first), to submit expenses to NACAC The Chair must complete and sign a final report closing the committee account closed. Only one report should be submitted on behalf of the committee

Committee Budget and Expenses Final Expense Report

Committee Budget and Expenses Speak with your Event Manager in advance about expenses to ensure you both stay in budget To keep costs down, hold meetings at locations that do not require a meal or fees Discuss hospitality options with your event manager. Concession coupons, donated water, or smaller portion sizes are another option. Seek local contributors to cover some of your costs - NACAC preapproval is required.

Committee Budget and Expenses Tips Give the budgeting responsibilities to one person. It will make keeping track of expenses much easier. Talk to the Event Manager about producing materials to lower costs. Have an emergency fund for last minute expenses. Offer concession coupons for exhibitors. This will allow you to provide hospitality while giving your committee more money to work with. Revenue Sharing is outlined in the affiliate letter of agreement. Talk to your affiliate about ways they can support the fair and helping you identify contributors. They are a great resource and also benefit from hosting the fair. Some local colleges and universities may want to contribute towards busing or another facet of the fair. Make sure to reach out to them so they know this is possible.

Revenue Sharing

Revenue Sharing Revenue Sharing is a portion of the profit generated from booth sales which is shared with the affiliate overseeing the fair. This is based on a formula: For Each NCF, $2,000 is granted for the first 200 or fewer booths sold. For fairs that sell more than 200 booths, the affiliate receives 10% of the revenue generated for each additional booth

Revenue Sharing Once NACAC receives these items, the documents are reviewed, approved, and reimbursements are processed. The revenue sharing is calculated and processed in accordance with the closure of the account (i.e. all reports and expenses are closed out with the committee). A Revenue Sharing Statement and payment is mailed to the affiliate. Copies of the statement are emailed to the chairperson(s), affiliate treasurer, president and president elect. After each National College Fair concludes, the chairperson(s) are required to fill out the Chairperson’s Final Report and submit committee expenses , with receipts, to NACAC.