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Take 10 questions from Budget Tips: Making More and Spending Less, Part 1, with Bonnie Wallsh


 

Does Bonnie have a sample comprehensive budget template she can share?

PCMA’s Professional Meeting Management has a chapter written by Vicky Betzig on Effectively Managing Your Meeting’s Budget in Chapter 3. Included are sample functional income and expense budgets. Check out www.pcma.org for further information.

Did you say that GSA rates are available for 2013?

Check out www.gsa.gov. The rates are not yet available for 2013. The current rates are being reviewed and the website will provide the most up-to-date information. Note that there might be more than one rate for some areas depending upon high and value season.

 

Per Diem Rates

Rates are set by fiscal year, effective Oct. 1. Find current rates in the continental U.S. (“CONUS Rates”) by searching below with city and state (or ZIP code), or by clicking on the map. Find previous rates by selecting year in the pull down and clicking on the map.

 

What is the average gratuity percentage for the Captain of an event? Is it customary to give an additional gratuity even if a 20%-23% service fee has already been included in the costs?

It depends upon how much they helped you. Did they go above and beyond for you? What is your budget? It varies according to your meeting or event.

 

What’s a banquet journal as an income source?

 

A banquet journal is usually printed up in conjunction with a banquet. It could be used to honor someone or as part of a program and it includes advertising with ads and tributes. Income derived goes to cover the cost of layout and printing and any excess goes to the bottom line profits.

 

What are the low and high hotel season?

There are typically three seasons: high, shoulder (in-between) and low. They differ according to location. Your best source for this information is the local CVB or tourist office. The best rates would be offered during low season. Also, rates differ according to the weekdays and weekend. For example, you can get the best sleeping room rates in Las Vegas during the week rather than on the weekend. Most cities offer less expensive rates on weekends rather than during weekdays.

 

Can you comment on your experience with hotels asking/requiring full pre-payment of the meeting, whether it is the day of or a few days prior?

Facilities will request that you fill out financial forms to ascertain your credit standing prior to your event. My experience has been that I normally do not provide a deposit in advance for domestic meetings. If there is a problem with a client’s payment history, advance payment may be required.

 

Do you charge people for the ability to “attend” conference via videoconferencing? How do you avoid cannibalizing on-site attendance when offering virtual options?

I present webinars that are sponsored and are free to participants, such as those I present for Meetings Focus. Other webinars are fee-based. Associations can offer free webinars as part of their membership fees for their members. Groups have discussed whether webinars cannibalize their attendance but I believe that has been shown that there is great value placed upon face-to-face meetings.

 

Per your suggestion that we include a statement that says "the group is not responsible for charges not specifically listed in the contract without prior written approval." This is too broad for hotels to accept, don't you think? What is a better phrase that will likely be accepted by most hotels?

I made a slight change to the statement above requesting written approval. Groups should not be asked to pay for charges not previously discussed before the signing of contracts.

Can you negotiate reduced shipping rates for nonprofit groups?

Shipping rates can be negotiated with a carrier for profit and nonprofit groups. If packages are dropped off rather than picked up at the office, there might be savings. Also, consider ways to a shipping company can be promoted to all participants included exhibitors as a way of reducing shipping charges for the master account.

 

Where can custom signs and hook-and-fastener arrows be purchased?

I believe in supporting those suppliers who support my professional associations. Check out your membership lists and contact can be made with exhibitors at hospitality industry conferences.  One of our participants mentioned the following: “We switched to reusable Madison Signs that paid for themselves in less than two meetings (they replaced poster boards).”

 

BONUS QUESTIONS: 

One of our participants mentioned that when doing a meeting outside the U.S., planners should check to see if they need someone at customs to receive packages. There could be local custom fees or taxes on top of shipping costs for items brought in. An expense that needs to be budgeted.

I wouldn’t plan a meeting outside the USA without using a customs broker.

 

Is it possible today to negotiate contracts without attrition clauses?

When negotiating contracts, make a list of must have and would like to have. The worst that your negotiating partner could say is no, but you will never know unless you ask.

 

We book our meetings in conjunction with trade shows we're attending. Unfortunately, I have not been able to work directly with hotels because they say they're contracted with show management’s travel group. I then don’t get to request upgrades, amenities, etc. EVEN THOUGH I book meeting space days before the trade show with the hotel. Any suggestions?

You could work with show management as you plan your meetings to evaluate the benefits of your booking meeting space and sleeping rooms for their host hotel. Calculate how many sleeping rooms you will be filling. Demonstrate the value that you are providing to their room pick-up.

 

Where do you find FREE speakers outside your organization? I've only heard of fee ones. Thank you. (Great session!)

You can contact members of the press, politicians (be aware that they might cancel at the last minute if something major comes up), or authors who are promoting their books. Be aware that speakers should NEVER promote themselves during their presentations. Some people within your industry might be willing to give back by training others or are pursuing certification and need speaking engagements.