Your conference budget is crucial to the planning and management of your event. Important expenses may slip through the cracks and push you over your budget if you don’t have a centralized place to manage your costs. Conference planning has changed in many ways: you may be spending less on venue costs while also dealing with the decision to lower registration fees for online events. Many of these important financial decisions can be aided by a well-planned conference budget.
10+ Conference Budget Samples
Conference budgets are a whole new level of difficulty. Minute details, a never-ending list of line items, and disorganized expenses Oh, and 25% of your budget was reallocated during the planning process last quarter. It’s time to start crunching the numbers. You can take your conference budget from overwhelming to ruthlessly prioritized by being both critical and creative.
1. Conference Budget Template
2. Conference Budget Proposal Template
3. Small Conference Budget Template
4. Academic Conference Budget Template
5. Conference Budget Worksheet
6. Church Conference Budget Proposal
7. Conference Estimate Budget
8. Industry Conference Budget
9. Conference Apportionment Budget
10. Conference Grant Budget Proposal
11. Conference Budget Spreadsheet
How to Simplify Conference Budget?
- Review your conference budget – Having two columns for cost in your spreadsheet will help you stay on track: one for “estimated cost,” and another for “actual cost,” which you can compare to see how accurate your estimates were last year. Have you made any errors that you should correct before continuing? If this is your first time budgeting, start from scratch or use an online template. This method of budgeting, known as zero-based budgeting, begins with a spreadsheet that is nearly empty. Zero-based budgeting can be a great way to prioritize your budget, regardless of your experience, because it avoids assumptions and focuses on what’s currently relevant.
- Create a priority list – There are some expenses that you simply cannot afford to overlook. Others, such as a social photo booth, maybe “nice to have.” You can easily reorder your spreadsheet once priority status has been assigned to see what falls to the bottom of the list. Take a closer look at the prices you’ve assigned before you nix anything. Just because something is categorized as “critical,” doesn’t mean you have to pay that price. Likewise, don’t overlook all of the “nice to have” items; otherwise, your attendees’ experience will be jeopardized.
- Pay attention to high-priority items – Where are you able to consolidate? Is it possible to find a venue that includes furniture, catering, and internet as part of the package? Is it possible to bring a hotel on board as a sponsor to help with speaker lodging? Is it possible for you to replace more of your employees with volunteers? Never putting your speakers in a low-cost airport hotel sends the wrong message. Simply because a vendor is less expensive does not mean it is better — or even adequate.
- Analyze the costs – Always get at least three quotes from vendors, especially for large purchases. You may be loyal to a vendor, but you must consider the financial implications. It’s certainly beneficial if you’ve always used the same catering company and they know exactly how to work with you. However, if you find someone less expensive who is equally reliable, don’t be afraid to switch it up.
- Automate processes – Automating processes that a computer can do just as well as a human is one of the best ways to trim the fat from your conference budget. This lowers your staffing costs and improves your productivity. Some technology tools are free, while others require a financial investment upfront. When you’re trying to cut costs, paying more may seem counterintuitive, but consider the big picture. If it allows your team to work more efficiently, the tool may pay for itself in a few years, or even this year.
- Give yourself a buffer – Unfortunately, the budget buffer you set aside for unforeseen expenses is not one of the items you can lose. Conferencing is a complex machine with a lot of moving parts. As a “contingency expense,” experts usually recommend adding an extra 5-10 percent to your conference budget.
- Revisit revenue – The less you have to cut from your conference budget, the more creative you can be about generating additional revenue. It’s a delicate balancing act.
What are some things to watch out for?
Expenses for any licenses or public insurance should be factored in. You may be required to pay a license fee if you use or distribute copyrighted written material. Insurance costs for serving alcohol and general liability, as well as business cancellation or interruption, may also be incurred.
Why do you have to get feedback from the previous conference budget?
Budgeting for an event can be a bit of a guessing game, especially if you’re planning a first-time event. If the conference has already happened, get as much information as possible from last year’s chair to eliminate some of the guesswork. Using feedback from the previous year provides needed guidance for your conference, whether you’re a fixed events team or the organizing committee changes every year.
If you want to see more samples and formats, check out some conference budget samples and templates provided in the article for your reference.
FREE 10+ Settlement Worksheet Samples
FREE 9+ Sample Parent Teacher Conference Forms
FREE 9+ Sample Conference Agenda
FREE 9+ Seminar Event Proposal Samples
FREE 8+ Sample Event Planner Job Description
FREE 8+ Sample Conference Evaluation Forms
FREE 7+ Conference Agenda Samples
FREE 23+ Conference Flyer Templates
FREE 11+ Account Budget Samples
FREE 10+ Art Proposal Templates
FREE 10+ Sample Conference Schedules
FREE 10+ Sample Conference Planning
FREE 10+ Sample Event Planning
FREE 10+ Fundraising Event Budget Samples
FREE 8+ Printable Worksheet Samples