Analyse a Budget

										BUDGET PROPOSAL
				PERFORMING ARTS COMMITTEE
										INCOME:						GROSS (£)	NET (£)
				Budget Request Form						Ticket Sales						351.00	292.50
				Fill out only red cells with numbers						2	x Adult @	£8.00		16
				Fill out only green cells with information						6	x Student @	£6.00		36
				Everything else will be worked out for you						13	x PA @	£5.00		65
										3	Performances			117
			Society:		SUSU Theatre Group						(Assuming	70%	capacity on	30	seats)
										Programme Sales						3.00	3.00
			Show Slot:		Independent					(	2	sold per night @		£0.50	each)
										Sponsorship						50.00	50.00
			Name of Show:		Waiting for Godot					(please specify here)
			Proposed Date(s):		13th-15th October 2016					Contribution						0.00	0.00
			Venue:		The Education Building					Other Income						0.00	0.00
										(please specify here)
			Event Organiser:		(please specify here)
			Contact Email:		fda1g13@soton.ac.uk					Total Income						404.00	345.50
Please provide a description of the event you are organising and any additional information:
										COSTS:
(please specify here)										[140]	VENUE HIRE (includes StageSoc hire)					0.00	0.00
											(specify here if needed)
										[144]	PERFORMANCE RIGHTS					234.00	234.00
											(specify here if needed)
										[143]	PUBLICITY (Total)					29.00	26.50
A Few Budgeting Notes:											Posters (with VAT)					15.00	12.50
											Flyers (no VAT)					14.00	14.00
All underwritten society events pass all their income to SUSU accounts and claim back expenditure from SUSU accounts. Because of this, you will have to account for VAT in your budget calculations. The GROSS figures are what money you actually collect/pay, but the NET amount is what you actually receive and so profit/loss is worked out from the NET totals.											Other		(specify here if needed)			0.00	0.00
										[141]	SET/PROPS					45.00	37.50
											Props					20.00	16.67
											Staging					25.00	20.83
											Other Set		(specify here if needed)			0.00	0.00
										[146]	SOUNDS/LIGHTS/TECHNICAL					0.00	0.00
INCOME: All income (ticket sales, sponsorship, contribution etc) includes VAT @ 20% so the NET income should be calculated as follows:											Sound					0.00	0.00
											Lights					0.00	0.00
											Other Technical		(specify here if needed)			0.00	0.00
	NET = GROSS ÷ 1.2				GROSS = NET x 1.2					[142]	COSTUMES/MAKE-UP					25.00	20.83
											Costumes					25.00	20.83
On the form attached, the NET column will be worked out for you so you only need to input the GROSS amount for each item.											Make-Up					0.00	0.00
										PROGRAMME PRINTING						1.00	1.00
										(4.5 per page for b&w double-sided page printed at uni)
COSTS: Typical costs can include a mixture of things which may or may not include VAT. A few common costs that do NOT include VAT are listed below:										[149]	SUNDRY (anything specific that isn't listed above)					0.00	0.00
											(specify here if needed)
	Flyers									OTHER (in case of emergency)						10.00	8.33
	University room hire
	Items purchased from charity shops or small businesses									Total Costs						344.00	328.17
In these cases the NET figure will be the same as the GROSS.
										Net Profit/Loss							17.33
In most other cases VAT will apply, the NET figure worked out using the formula above.
										CAST & TEAM SHOW DEPOSIT							0
StageSoc Technical Hire for Annex = £35 per performance (Excluding VAT)										Should total at least 10% of total NET costs =					£32.82		0	x	£0.00

• They're expecting 70% of capacity (30) so that's 21 people.
• To increase they're budget, they could try and get more sponsorship or fundraise more.
• They could make a bigger deal of the programmes and spent slightly more on them to make them nicer so more people would buy them and charged more than 50p each.
• They could reduce there spending by creating an online programme for people to download on their phones.
• They paid a lot for performance rights, if they devised their on play they wouldn't have to pay.

Gross and Net

The gross income is an intermediate earnings figure before all expenses are included, and net income is the final amount of profit or loss after all expenses are included.