5. Developing a Budget The development of the budget consists in the creation of a balance sheet based on Revenue and Expenses necessary to the implementation of the Festival. The sample budget items hear will give you an idea where you can obtain funding and different sources of revenue. It will also help you identify what expenses you may incur. Also think about what items you can borrow and who might sponsor or do-nate needed materials or other resources. The example list here can include any other costs you can think of, to create a potential budget. For grant purposes it’s a good idea to keep a record and set a value for in-kind donations 6. Festival Schedule The next step in the process is to begin preparing a festival/ event timeline that sets out the timeframe for action. Some organizers call this a Master Schedule. The benefits of effective scheduling include: • Avoiding problems by having the information recorded regarding due dates and deadlines. • Having all the information you need at hand by establishing set meetings, repor-ting and minutes to track progress, identify issues early and determine the actions needed. • Possessing a complete directory of all pertinent personnel. • Determining the number of volunteers you will need based on the number of ta-sks. • Establishing the resources needed to operate the event. • Having better control over the outcomes by seeing how well different programs and activities fit together. • Experience a sense of accomplishment as tasks are completed. 95