Planning for Profit Treasurers Training. Session Plan What is budgeting and why do it? How to plan for profit and tools you can use. Activity: Planning.

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Presentation transcript:

Planning for Profit Treasurers Training

Session Plan What is budgeting and why do it? How to plan for profit and tools you can use. Activity: Planning your Circus Party!

What is a budget? An estimate of income and expenditure over a certain period of time

Importance of the Budget  So you understand what your club/society can afford!  Keeping your society out of debt  Providing a financial safety net  Aware of where money is going

Benefits of the Budget! Why do you think budgeting is beneficial? Profit! Fundraising for charity Money for club/society equipment Or just financial stability and security for your club/society

Activity Budgeting Timeline

Check your account balance Decide upon a budget for your event Decide upon how much profit you would like to make Get quotes from the companies for venues / items Ensure that your out-goings do not exceed your income Decide upon which companies fit into your budget and book them After the event put your actual income into your budget Review the process and pick out things to change for next time Always be realistic with your income (e.g ticket sales) 5 – 6 weeks before At least 5 weeks before4 weeks before At least 4 weeks before 5 – 6 weeks before Up to 1 week after

Reviewing your Budgeting What went right and what went wrong? Apply this to other events and pass on your knowledge in your handover!

Budgeting Tools

Activity! Budgeting your own Circus Party

Thank you! Any questions?