It is important to know your budget before starting to plan an event. You don’t want to spend your time on something that will not pan out because it is too expensive. Don’t forget to budget additional money for unforeseen items in your miscellaneous category. Evaluate what your needs are including but not limited to the items listed on the sample budget estimate.
When doing your budget, make sure you don’t forget tax, service fee and delivery charges. Always include some miscellaneous cost for unexpected expenses.
Keep in mind if the cost of food for your function exceeds $40/person, including tax and gratuity, you need to get Dean’s approval.
For any bill or contract over $15,000, but less than $25,000, the use of Anthony Travel as the approved vendor contracting agency is required regardless of funding source, and you must adhere to PUR 305-01, “Bidding Requirements, Cost Less than $25,000.” For any bill or contract over $25,000, PUR 305-02, “Bidding Requirements for Procurements Costing at Least $25,000 but Less than $50,000” must be adhered to.
On the rare occasion when circumstances dictate Anthony Travel should not be used, you must obtain three (3) bids along with a Purchasing review and signature in order to pay the bill per policy PUR 305-01, “Bidding Requirements, Cost Less than $25,000” and PUR 305-02, “Bidding Requirements for Procurements Costing at Least $25,000, but Less than $50,000.”
Regardless of the dollar amount of the bill or contract, FIN 301-02, “Deposits – ASU- Approved, Financially Related Organizations” must be adhered to, specifically the section titled, “Use of Funds in ASU-Approved Financially Related Organizations by ASU Units for ASU Contracts, Purchases, and Transactions,” which references PUR 301-02, “Purchases Not Requiring a Purchase Order.” For a list of transaction not requiring a purchase order, please see the Business and Finance website.
Approving the budget
Once you have your budget completed, you will need to get it approved by the person with budget authority for the account that is paying for the event. Include in your request the budget, an invitation (if it is ready), and your invitation guest list.