13.6. Key Terms
Key Terms
- Budget: an estimate of income and expenditures for a set period of time.
- Income: money that comes in, either through registration fees or sponsorships.
- Deficit: you overspent the available funds.
- Duration: period of time.
- Estimate: a best guess about cost based on previous experience or research.
- Event sponsor: an entity that provides financial support for an event in exchange for recognition of some sort.
- Expenditure: expenses incurred during an event.
- Honorarium: fee paid to speakers at an event.
- Surplus: leftover money.
- Variance: the difference between an estimate and an actual cost.
