ABSTRACT
The literature, both academic and professional, is somewhat sparse when it comes to addressing the financial management of special events. This chapter is one step toward a more focused examination of financial aspects of events with the hope that it will encourage continued attention in this area. The chapter begins with an overview of a few concepts and practices that are important to the financial management of events. These concepts include events as revenue-generating enterprises, related and unrelated business income, liquidity and cash flow, limitations and risks, cash management strategies, and other financial management strategies. Then the chapter works toward applying an approach that is more structured in terms of studying the financial aspects of events and, hopefully, more helpful in terms of the financial management of events in the “real world.” The chapter relies on work in other disciplines for information, insight, and guidance on this topic, including business management, nonprofit management, and social enterprise. In particular, the balanced scorecard method is examined as one potential approach to special events that is more comprehensive and strategic in terms of their financial management and, more broadly, strategic management of their performance.
