The starting point for organising any event is the budget. An Organising Committee should not proceed until there is a financially viable plan established. The budgeting process also serves to ensure that the Organising Committee considers every aspect of organisation and should avoid or at least minimise the chances of becoming subject to unexpected scenarios and costs further down the line.
The Organising Committee should conduct regular budget reviews to ensure the project remains on track, on budget and therefore ultimately a financial success. Only in this way will the event be sustainable over time. The regular review process is particularly important in year one of a new event when inevitably there are more 'unknowns' and an increased likelihood of unforeseen costs impacting the budget.
Each Organising Committee will develop a budget structure appropriate for their particular circumstances. However a template budget can be downloaded here. Many line items are only relevant to larger events. However it is useful tool for any event, serving as a checklist from which an Organising Committe can create their own budget.
The major costs for Organisers will vary depending on the type and size of event. However significant costs common to most events include:
- Venue rental, set-up, infrastructure and associated services
- Staff / Organising Committee team costs
- Equipment inc jumps, dressage arenas, cross country course etc
- Accommodation / hotels
- Medical services
Larger events will also need to consider budgets for marketing and communications, broadcast, media services and horse transport.
From an income perspective, although the balance will change depending on type and size of event, the main sources will be:
- Competition entry and stabling fees
- Trade/ retail village
Attached files: Event Template Budget_v1.xlsx