ABSTRACT
Event organisers approach the challenge of financial management from a range of different perspectives. Some events are solely profit driven (for example, an entrepreneur music festival), while for others generating a surplus is one of several objectives. This chapter explores how the financial resource can be efficiently and effectively used to achieve an event’s predetermined financial outcomes. It begins by examining the financial management process as it applies to both income-generating and fully funded events. It then moves on to describe key financial concepts and practices that serve to inform or guide this process. The final part of this chapter briefly overviews selected issues that are aligned with effective financial management. The chapter concludes with a case study, ‘Innovative ticket pricing at Greenbelt Festival’.
