Financial management and budgets

Good financial management is essential to running a successful and sustainable event. Creating and managing a clear budget will help you plan responsibly, meet your obligations and avoid financial stress – whether your event is small or large and community-led or commercially operated.

Budget planning

Start by developing a comprehensive budget that includes all potential income and expenses. Your budget should be reviewed regularly throughout the planning process.

Common income sources

• Grants or funding from Council or other government bodies
• Sponsorships and donations
• Stallholder or vendor fees
• Ticket sales or entry fees
• Merchandise or food and beverage sales.

Typical expenses

• Venue or site hire fees
• Permit and licensing costs
• Insurance and Public Liability cover
• Infrastructure (for example, marquees, fencing, toilets)
• Staffing and contractor fees
• First Aid, security and safety measures
• Marketing and promotions
• Entertainment, performers or speakers
• Waste management and cleaning
• Equipment hire and transport
• Accessibility and inclusion measures
• Traffic and Road Management services.

Contingency allowance

Always include a contingency allowance in your budget (typically 10 to 15%) to cover unexpected costs such as weather-related changes, overtime or additional compliance requirements.

Record-keeping and reconciliation

Keep accurate records of quotes, invoices, payments and receipts. You may be required to provide evidence of expenditure, particularly if you’ve received funding or grants.

A post-event budget reconciliation is recommended to compare actual costs and income against your forecast. This is also useful for planning future events and improving financial management year to year.

If you receive funding from us or other bodies:

• ensure you understand the terms and conditions of the funding agreement
• submit all required financial and evaluation reports on time
• use funds in line with your approved application and budget.