Budget

Budgets are a reality. Whether large or small, as the host community college you must tailor the conference to your budget accordingly. When executed efficiently, it is not uncommon for host community colleges to profit on the annual IACCT conference. However, host community colleges should have a contingency budget in place through the Board or President/Chancellor’s Office to cover expenses in the event of a loss or unforeseeable expenses.

The objective of this information is to provide conference hosts with a financial blueprint. The budget should be specific, and include revenue opportunities, as well as potential expenses. Each community college is unique and has the ability to leverage a variety of resources in-house. However, there are instances where goods and services are not readily available through existing campus means and items or services must be rented or purchased.

Income:

Conference income will typically come from the following sources:

• Participant and spouse fees – These are fees that are charged per participant and spouse/guest.
• Sponsorships and Donations – These are additional funds that are sought from businesses, corporations, foundations and individuals, both within your local community and state-wide.
• Gifts-in-Kind – These are goods or services that are sought from businesses, corporations, foundations and individuals typically within your local community to support specific event activities, projects or initiatives.

Expenses:

Consider the following event expenses when creating the conference budget:

• Accommodations for special guests and speakers
• Activity/Tour fees – golf course and cart rentals, refreshments, tours and tour guide fees, entrance fees, etc.
• Alcohol – insurance and liquor licenses
• Apparel for committee members, staff and/or volunteers
• Audiovisual equipment and special sound or lighting – rental and labor
• Centerpieces and other décor
• Delivery fees
• Entertainment / Musicians
• Exhibitor or sponsor needs – booth pole and drape, access to electricity
• Facility rental
• Food – all event meals for participants, food and snacks for staff and volunteers, committee meetings
• Furniture and equipment rental – tables, chairs, podium, tents, stage, backdrops, etc.
• Gifts and goodie bags for participants and paid guests
• Linens, china and service ware rental
• Parking
• Photography
• Postage
• Printing and Design Costs – program booklet, postcards, invitations, menu cards, nametags, signs, banners, etc.
• Publicity – flyers, posters, newspaper ads
• Signage
• Speaker’s fees and associated expenses
• Sponsor recognition
• Staffing and labor fees
• Supplies
• Technology – computer and internet access for participants
• Thank you gifts for dignitaries, speakers/presenters, sponsors, special volunteers, etc.
• Transportation / Shuttle rentals
• Videography

Things to keep in mind:

• Prior to contracting for or purchasing outside goods and services, consult with your Purchasing Department to learn about pre-existing contracts and agreements your community college may have with vendors and suppliers.
• As a partially state funded organization, you are under public scrutiny. Be cognizant of goods and services being paid with state funds.
• Alcohol should not be purchased with state funds. Again, it is always a good idea to consult with your Purchasing Department and Business Office.
• Consider those activities and events that will be included in the event participation fee, and those that will not.
• For evening events, consider whether you will have a hosted bar, cash bar or offer a set amount of drink tickets per registrant/guest.