Submit a draft of an event budget for the event you have chosen for your final project (Wedding). Your event budget will indicate the needed funds to operate the event. Submit a draft of the event budget for your course project.
The final project undertaken is the wedding event. Since the program is done at the personal level the event is not-for-profit event and the inflow of fund is exactly matched with the outflow of fund. Here the income for the event is inflow of fund out of which total expenses is made. There is no markup percentage in-between of the event. Three different situation is analyzed. The actual budget is planned when all the planned activities go in a normal way. The over budget scenario is the scenario when the inflow of funds exceed the level expected and under-budget when the fund is below the expected level. Here, the planning of income and expenditure is based upon the estimated condition on personal conviction. Thus the summary of income and expenses is listed as following:
The wedding event is a personal event and for this event the source of fund is the private saving done. The only source of fund is the withdrawal amount from saving account. Since, the source of income is the amount placed as inflow of fund there is no further categorization of fund. Only the total of fund can be represented as the total inflow of fund without dividing it in the further category.
Now for the further budgeting, the expense details are to be stated. The major expenses here for the event can be venue rents, food and beverage, transportation, cards and invitations, audio visuals, theme props, décor, floral, entertainment packages, and housekeeping. These expenses are estimated on the basis of the budget situation. In case of over and under budget, venue rent, food cost, cards and invitations, audio visuals, theme props, and entertainment packages can be modified. The budget condition makes it more expense oriented or less expense oriented program. The expense details are listed as following:
Here, the administrative section constituted of salaries and wages for the involved person. Here the employees are the professional wedding planners, and the labor group are the people who are involved in the clerical tasks. To prevent hazards, insurance packages are taken. Apart from listed expenses, some contingent fund are considered in all three case to avoid the hassels in contingencies. Here the travel and entertainment expenses, and postal expenses remain constant over different budgetary conditions. The following is the list of the event as mentioned below:
The wedding requires different equipment and supplies that is hired in the rents. Such involves the hiring of power equipment and other necessary items. Here the legal fee consisted of the fees for all the legal registration formalities and all the legitimate charges for the event. In this, legal fees, permit and license remains constant in all three budgetary conditions. The other items are subjected to be changed.
