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IEEE GLOBECOM 2009 Budget

IEEE GLOBECOM 2009 Budget

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IEEE GLOBECOM 2009 Budget

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  1. IEEE GLOBECOM 2009Budget GIMS, May 2008

  2. Budget/Financial Reporting Process • 24 Months before event – preliminary budget, present to GIMS, open bank account • 18 Months before event – update to GIMS • 12 Months before event – update to GIMS • 9 Months before event – formal expo budget compiled • 6 Months before event – review final budget to ensure registration fees are in place to minimize the risk of not meeting the desired surplus • 2 to 6 months before event – continue updating expenses as the become known. Accounting for registration and expo related revenue. • 6 to 8 weeks before event – start to compile financial forecast. • 3 weeks before event – review the forecast in comparison to budget to see if any expense adjustments can be made. Strategize to see how to insure against existing attrition exposure (should be 4-5 weeks before). • At conference – last minute expense updates, in prep for wrap-up meeting. Bring the conference checkbook. • 0-6 months after event – Pay the bills, do final accounting for revenue, etc. • 6 months after – should have actuals in place, closing down. Goal to show actuals within +/- 10% of the forecast offered at the wrap-up. • 12 months after event –final financial report at IEEE (final GIMS mtg travel voucher). • 13-14 months after event – audit completed • Monthly – attend meetings/review minutes to see if any decisions were made affecting the budget, offer financial advice.

  3. Other Assumptions • Estimated paid attendance : 1,500 plus 25 for the exhibit floor only • Prices (previous slide), equal to GIMS suggested • Includes EXPO budget; mirrors GLO’08 Expo budget • 15 Tutorials • 15 OC member trips for travel to GIMS Meetings, 2 ExCom Mtgs in Hawaii, plus supported travel to GLOBECOM’09 • Speakers Breakfast • Selling Boxed Lunches on days other than “Awards Lunch” day • Added expense to provide coffee breaks and lunch to those attending the workshops and tutorials • Added expense to support Keynote Speakers (honoraria or travel)

  4. Other Assumptions: Marketing$125K • CFP Ads • Announcement Ads • Giveaways • Ads in EE Times, IEEE Spectrum, and other Telecom Pubs. • List Rentals/ Purchases • Expo Brochure • Postcards • Google Adwords

  5. Other Assumptions • Advance Program: Print, 24 pages, 20,000 estimated quantity • Meeting Room Rental Needed - $47,000 • Patronage: estimated at $75K • Expo Exhibit Sales: 25 @ $3,300 per 100sq ft., $2,300 (or 30% off) if they sign up to exhibit at GLO’08 and GLO’09 • Food and Beverage Spending (per person) • Welcome Reception $110 • Speaker’s Breakfast $ 35 • Coffee Breaks $ 15 • Awards Luncheon $ 60 • Boxed Lunch Days $ 10 • Banquet $120 • Tutorial Lunch $ 25

  6. Bottom Line Conf Only Conf+Expo Revenue $1,042K $1,318K Expense $ 778K$1,011K Surplus $ 264K $ 307K Percentage 34% 30%