Executive Committee Mtg 04-16-24

President's Report

Page 51 of 55

12/14/2023

Expenses

Income is the difference between revenues and expenses. Income

• Venue Rental • F&B • Speaker fees • AV, décor) • Signs • Registration/Website • Streaming

• Hotel nights • Travel/airfare • Shipping • Promotions • App • Gratuities

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A budget is a numerical expression of the established policies, plans, and objectives pertaining to all aspects of operation. Budget

“A budget is simply telling your money where to go instead of wondering where it went.”

-John Maxwell

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Financial Objective

Financial Objective

An objective set for an event in which the target state is measured in monetary terms. Examples include a certain amount of profits, percentage increase in profits over a period of time or break-even, etc.

Profit • Revenue is greater than expenses • By attendee or the entire event

Deficit • Expenses are greater than event revenue • Employer sponsored event

Break-Even

• Revenue is

equal to total expenses

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