Budgeting

The standard definition for my budgeting class is,

“The Budget is a plan, rooted in money and based on a series of assumptions, related to venue, time and expectation that represents to ourselves and others how we will proceed to achieve a goal.”

In establishing or creating a budget for project, season or what have you you need to ask a series of questions.

1. What is the story we are trying to tell
2. What is the expectation we are working with
   1. From the organization and the artist and who is providing the information
   2. Profit, non profit, commercial…what is the nature of the business model
   3. What is the expected income base
   4. What are the funding sources
      1. Are there associated requirements
         1. Accounting expectations, restrictions etc
3. What is the time line of the project
4. Where does it fit in the season (if appropriate)
5. What is the venue we will be working in
   1. Type of house/stage/experience
      1. Straight picture frame (proscenium), thrust, black box, other
      2. Season piece
      3. Site Specific
      4. Avant Garde
      5. Experimental
6. What is the process we will need to support
   1. What are the artists individual goals
7. Who are the players on the project and what level of consideration do they need to receive, anything beyond the norm.
8. What is the life of the piece, extended or a “one off”
9. What is the size and scope of the project
   1. There is a level of consideration related to expectation (not aesthetic but practical, there is a difference inherent in physical production in a broadway project and a 99 seat project, or a regional project and a touring project)

TO BE CONTINUED….