There are two different British Orienteering financial arrangements for Major event finances depending on whether the event is governed by the partnership agreement on a profit-share basis or on a super levy.
Profit share basis is when the event profit is split 2/3 to British Orienteering and 1/3 to the organising body. However, any losses will be covered by British Orienteering, assuming that the terms of the Partnership have been adhered to. A super levy basis is where the Organising body pays British Orienteering a ‘super levy’ per run and any profit or loss is the responsibility of the Organising body.
It is expected that the JK will always be a profit share event. There are British Orienteering standard contracts to be used when procuring goods & services. Copies of Previous JK budgets and a budget template are available.
Good financial management is fundamental to the delivery of any successful event. Plan ahead, be realistic, keep on top of your budget and implement control systems that work for you.
The attached documents will help you to budget for the event using information from previous JK Finances and the standard contracts and British Orienteering policies will outline the requirements in terms of financial management and expenses.
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|1. Summary||2. Policies||3. Budget|
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This section covers the British Orienteering policy for Major event finances and includes:
Financial Policy for Major Events
The Major Event Financial Policy sets out the requirements for managing the finances of a JK.
Any deviation from this policy must be agreed with the Major event consultant in advance.
Other financial requirements are contained in the Partnership Agreement.
NB Click on the Partnership Agreement above and download to edit
The event budget is basically a projection of all income and expenditure relating to the development and delivery of the event. To help manage event finances effectively it is a good approach to keep a ‘live budget’
The Budget Template gives an example of the kind of entries that may be appropriate to your event, but your entries should be specific to your particular situation.
The overall responsibility for budgetary control is delegated to the Major Events Consultant. They will be responsible for the achievement and delivery of the budget, that the event budget is not overspent and that planned objectives and specific targets are met.
Be aware that British Orienteering is not registered for VAT therefore it cannot be reclaimed by British orienteering, some quotes may not be inclusive of VAT.
JK draft final accounts and previous event budgets will be supplied on request to JK Treasurer/Coordinator
Event Entry fees
These must be agreed with the Major event consultant before the entries system is open. British Orienteering policy is to ensure that the entry fees are set to produce an acceptable level of profit whilst also ensuring that fees are not out of step with previous JKs or other comparable orienteering events.
Previous levels of JK entry fees are to be found in the JK event budget template
The attached Policy and Expenses Form is used for volunteers to claim their expenses.
Please ensure that all volunteers understand the Policy to avoid any misunderstanding/issues.
Contracting out Services
It is recognised that some services will be contracted out to third party suppliers. It is important to have a contract with these suppliers and a clear identification of services that they will deliver.
The Contract for Service can be used for all external suppliers and the details can be covered in the Assignment Details.
NB Click on the links above and download to edit
British Orienteering has some equipment that is available for all Major Event organisers. All equipment borrowed for Major Events should be collected and returned to the British Orienteering National Office, Matlock.
Prompt return of the equipment when it is required by other events.
NB Click on the link above and download to edit
Monitoring the budget may require a reporting form which will be used by the coordinator/event treasurer to report to British Orienteering via the Major event consultant.