Use this template to keep track of your conference budget.
Use this template to keep track of your conference budget. Add items, add to a Category, add Projected & Actual Costs and leave Notes & Comments. With so much competition these days, it’s no wonder that planners are constantly trying to find ways to make conferences more affordable. One way they do this is through careful planning of budgets. By having a clear idea of how much money each speaker needs to bring in, organizers can ensure that everyone gets paid fairly. In addition, keeping track of costs helps them avoid any surprises later down the road.
What you need before purchase
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For ongoing use, the steps are:
The steps to planning a Conference Budget are:
The first step in preparing a conference budget is determining the purpose of the event. What do you hope to achieve by attending this particular conference? Is it to learn new skills, network with colleagues, or just have fun? Once you know the purpose of the conference, you can begin to develop a more detailed agenda and determine how much time each activity will take. For example, if you are going to attend a training session, you may need to allocate at least one hour per day to learning about the topic. If you are attending a networking event, you may only require 30 minutes to meet people. You should also consider whether you will be able to afford the cost of the conference. If you are attending as part of a company-sponsored trip, you may not be required to pay any costs associated with the trip. However, if you are paying out of pocket, you must factor in travel expenses, food, lodging, and other miscellaneous costs into your budget.
The second step in developing a conference budget is to create an outline of what you would like to accomplish during the conference. This includes activities such as presentations, workshops, social events, and meals. It is important to keep these activities separate from the actual conference sessions. For example, if your goal is to present a paper at the conference, you should include room rental fees in your budget even though you won’t actually be presenting anything. In addition, you may want to add some money for transportation to and from the venue. Be sure to include everything that you expect to happen during the conference.
Now that you have determined the purpose of the conference and created an outline of what you wish to accomplish, you can start to establish a tentative budget. To do so, you will need to estimate how many hours you will spend at the conference. Then multiply those hours by your hourly rate. Next, divide the total amount by the number of days you will be away from home. Finally, round up the result to the nearest dollar. For example, if I am spending three days at the conference, my estimated hourly rate is $50/hour, and I am charging $100/day, then I will charge $300 for the entire conference. Therefore, I will round up to $350.
Once you have established a tentative budget, make sure that everyone involved in planning the conference is aware of the final figure. Some conferences allow attendees to submit their own budgets, but others require that you use the conference’s allotted funds. In either case, it is important to get buy-in from everyone before you commit to the conference.