1 From: Russell Stuart <firstname.lastname@example.org> 2 To: email@example.com 3 Cc: James Iseppi <firstname.lastname@example.org> 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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