First the basics: The best way to manage your budget is to do a preliminary budget and then to regularly track your expenses and income against it. Monthly accounting will keep you aware of where you stand and help prevent your regatta from going into the red. With careful accounting and good fundraising, most regattas can manage at a minimum to break even and many can be profitable. US Sailing has a sample Budget Worksheet to get you started.
A regatta’s budget includes but isn’t limited to:
•Sponsor Donations – i.e. Gifts in Kind that offset the expenses below
•Food! This includes:
•Race Committee Lunches
•Bottled Water or better still, water refilling stations
• Breakfast, Lunch and Dinner
Optional for adults; required for juniors at US Sailing’s championships (but not a qualifiers)
•Post racing entertainment
•Bow Numbers depending on the type of boat
•Sail Numbers depending on the event
•Optional Gifts (for PRO, judges, host families or event chair) T-Shirts (Volunteers)
•Administration Costs (club waitstaff,rental fees, etc.)
•Photography – can sometimes be obtained for free in exchange for allowing the photographer to sell their work to the competitors.
•Shipment of materials back to sponsors or others like US Sailing – marks, banners and burgees
•Printing of an event program, sailing instructions, etc.