Event feasibility: consider income, costs and payment timing together

Start with the decision to be made

The planning lead should identify whether the decision concerns holding the event, reducing its scale, changing the venue or format, or postponing. Record the purpose, essential conditions, decision-maker and deadline. An education or public-service event should not be judged on financial return alone; record expected outcomes and supporting evidence separately.

A provisional choice to proceed is separate from approval to contract or pay. Do not make a legally binding commitment or payment until the relevant approval authority, budget and contract terms are confirmed.

Separate the status of income, funding and costs

List venue, production, staffing, promotion, safety, accessibility and dismantling costs item by item, with the quotes or contract terms and check time. Mark conditional costs such as overtime, quantity changes, cancellation and postponement, as well as unconfirmed amounts. Record the basis, assumptions, range, owner and deadline for estimates.

Separate ticket, sponsorship and grant funds already received from amounts documented as committed but not yet received, and from applications or discussions. Separately confirm whether organisational funding is allocated and available. Organisational funding is a financing source, not event revenue or sales. Do not treat unknown amounts as zero or secured funding.

This record table is an editorial example, not a contract, accounting form or funding commitment.

Compare when money comes in and goes out

Federation Council in Australia recommends considering when funds are received and paid as well as income and costs. Even when projected income exceeds spending, cash may be insufficient on the date a deposit is due.

Confirm the opening balance actually available for this event with finance, then record actual receipts and payments by date. Check that the same funds are not counted twice. Do not add committed but unreceived funds to the current balance; reflect them only in a separate forecast that states the assumed receipt date and conditions. Show applications and sponsorship discussions in separate outcome scenarios rather than current available cash. If costs are unknown, mark the gap and do not present a forecast balance or shortfall as final.

The closing available balance equals the period’s opening balance plus actual receipts minus actual payments. Carry that closing balance into the next period, checking account restrictions and duplicate counting with finance. Keep forecast scenarios separate from actual records and document receipt conditions, scheduled payments, assumptions and check dates.

Check grant payment conditions separately

Seoul’s 2025 international conference support programme described payment after expenditure, results reporting and review of evidence. This is an example for that programme and year, not a rule that all grants are paid afterwards.

Check the actual notice and agreement for eligible costs, limits and reduction conditions, application and payment timing, evidence and whether expenditure must come first. Ask finance whether the organisation can cover spending before reimbursement where required. An approved award is not current available cash until received.

Compare the baseline and alternatives on the same terms

The UK Treasury’s Green Book calls for public-project options to be assessed for costs, outcomes, risks and uncertainty. It is UK public-sector guidance, not a requirement for private events in Korea. Compare feasible options such as the baseline, reduced scale, changed sessions or dates, and continuing the current approach using the same period and cost scope. The current approach can also have costs and risks.

Record each option’s purpose, available cash and any funding gap before payment, conditional costs, staffing, preparation time and risks. Do not state savings as confirmed while revised quotes or contract changes remain unverified.

Fictional example: a delayed sponsorship

These figures are fictional and do not represent an actual event or grant. If opening funds available are KRW 10 million and an actual venue deposit payment is KRW 8 million, the closing available balance is KRW 2 million when no other money moves. A KRW 7 million sponsorship still under discussion has not been received and is not added to current cash.

Finance checks later confirmed and unconfirmed costs and the sponsorship status while the planning lead compares the baseline with venue or session adjustments. Record forecasts with and without the assumed sponsorship separately; if other costs are unknown, do not conclude that either option has sufficient funding.

Record the decision-maker and next check

Planning and finance give the decision-maker the recommended option and alternatives, verified costs and funds, unresolved conditions, payment dates and contract terms affected by delay. The decision-maker records whether to proceed, adjust, postpone or seek information, the reasons, follow-up owner and next check date. Recheck quotes and cash flow if conditions change.

A projected surplus or apparent funding does not itself approve a contract or payment. Follow the actual contract, funding rules and any specialist review needed for tax or contractual treatment.

Final check before use: Before deciding to proceed or procure, compare the purpose and options, actual available funds and cash timing, unknown costs and follow-up owners, and the final decision and separate approval conditions.

Use the form for the next handover

Use the [Funding status, receipts, payments and available cash log](/en/templates/cash-flow-readiness.html) for the records described here. The XLSX contains Blank, Example and Instructions sheets. Write your event in Blank; the fictional example is a guide to what to enter.

Have finance verify opening available cash without counting existing funds again as receipts. Enter only actual receipts and payments as numbers and link evidence and check time.

Finance sends actual cash evidence, unreceived conditions and scheduled payments to the planning decision-maker. Contracting and payment owners confirm delegated authority and terms before execution.