Attachment '081007-budget-ctte@linux.org.au.txt'

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   1 From: Russell Stuart <russell-humbug@stuart.xxxx>
   2 To: ctte@linux.xxxx
   3 Cc: James Iseppi <p.iseppi@qut.xxxx>
   4 Date: Tue, 07 Oct 2008 12:25:05 +1000
   5 Subject: Brisbane's budget for LCA 2010
   6 
   7 Attached is an updated budget for Brisbane's LCA 2010 bid.
   8 This is revision 2.  There were two errors in the previous
   9 version that had to be fixed:
  10 
  11 - There was a bug in the formula's that meant Early Bird discounts
  12   were effectively 100%.
  13 
  14 - The budget used some information provided by the LCA 2008 team.
  15   We had assumed that all those figures were GST inc, but it
  16   became obvious some weren't.  We are still not entirely sure
  17   which figures in Melbournes spreadsheet are GST inc and which
  18   are ex, but we think as far as our estimates are concerned the
  19   problem is now below the noise floor.
  20 
  21 Other notes:
  22 
  23 - The budget is meant to be conservative.  Thus we have err'ed
  24   on understating income and overstating expenses.
  25 
  26 - When we had no other figures we used Melbourne's, scaled
  27   appropriately.  This has been done even when we expect to
  28   change how things are done, but don't feel we can do so
  29   without consulting LA first.  Eg, Melbourne gave early
  30   bird discounts to 48% of eligible attendees.  We don't
  31   plan to be nearly as generous.  Nonetheless we have used
  32   the 48% figure in this budget.
  33 
  34 - The registration fees in the budget have been increased by
  35   roughly inflation over Melbourne, except for the Penguin
  36   dinner which has increased by 33%.  The 33% increase will
  37   still not cover costs.  This puts the Registration fees
  38   slightly above Hobart's, although they will still be less
  39   after accounting for inflation.  However, if the Early Bird
  40   discount is either dropped to around 20% of eligible
  41   people, or is eliminated, then the Registration Fees will
  42   drop accordingly.  If eliminated they will drop to be to 
  43   below what Melbourne charged.
  44 
  45 - There have been large increases in budgeted expenditure 
  46   for promotion and open day.  This is primarily because we
  47   are hoping to attract high school participation in open
  48   day, possibly running a competition and offering prizes
  49   to attract more outside attention to the event.
  50 
  51 - It is worth noting the conference is not self funding.  The
  52   costs are around $512 per attendee, and the registrations
  53   are around $494.  We have budgeted for 700 people attending
  54   and are hoping for many more, but from the budget's point
  55   of view we make more money if less people attend.
  56 
  57 - Not mentioned in the budget is the cost of accommodation for
  58   delegates, as they is expected to be revenue neutral.  
  59   However, you will probably be interested to know Kelvin 
  60   Grove college has quoted $65 per night.  I expect the UQ
  61   colleges to be around the same.  The YMCA in the city has
  62   said they could accommodate at least 800 delegates.  Their
  63   charges range from $20 per bed for an air conditioned shared 
  64   room and range up to $60 for a air-conditioned room with a 
  65   single double bed.  There are many thousands (literally) of
  66   more expensive hotel beds available in the city within a
  67   15 minute walking distance of QUT.
  68 
  69 - We have assumed that LA will be our 'banker', lending the
  70   conference any money required until registration fees start 
  71   to flow in.  Thus there are no finance costs in the budget.
  72   Should this not be the case interest will be charged back to
  73   the conference.  This will be done monthly.  Ie, on the last
  74   working day of each month, interest equal to the maximum
  75   outstanding balance during the month multiplied by 1/12th 
  76   WestPac's published "Business Development Rate" on that day
  77   will be charged back to the conference.  For the purposes of
  78   determining when a loan started and ended, a person making
  79   the loan must submit a bank statement and the dates on that
  80   statement will be used.

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