If you have built budgets in the past, use these as a learning tool for building your next one. For example, you will need to consult CAEA contracts to find out appropriate artists fees or call a company for a quote on the building materials you need for your set. You will have to do some research to make sure that your estimated numbers are as accurate as possible. For example, Fight Director fee: $75 ($25/hr for 3 hrs). granting juries) but will help you remember how you came up with that number in the first place. Not only will this help others who are looking at your budget (e.g. Tip: Write notes in another column of your budget to give context for the number you chose. This budget should be realistic and leave room for unexpected expenses so you're prepared in circumstances should change or things go wrong. Step 4: Build the Actual Budget: Using all the knowledge you've gained creating the previous versions of your budget, you can now create the budget that you will use for the duration of your project. It's important that this grant accurately tells the story of your project's priorities and should support the plan and values you laid out in your written application. What will your budget look like if you are successful in your grant application? This budget will probably fall somewhere between your Fantasy and the Practical budget. Step 3: Build the Grant Budget: If you are applying for a grant, it's useful to adjust how municipal, provincial, or federal funding will affect the success or viability of your project. What is a reasonable amount of money you will make? How many weeks can you actually pay your artists for? What are practical venue costs? In what ways can you include accessibility in your performance? Record these numbers in a second column in your Excel sheet. Step 2: Build the Practical Budget: Begin to think realistically. In the best case scenario, how much money will you make? What would it cost to have everything and everyone you need to make it possible? Think about all the things you may want and need, including production costs, accessibility costs, personnel costs, etc. Step 1: Build the Fantasy Budget: This is the budget for the show you want to make. You can use begin to vision your budget using these four steps: You will likely go through multiple drafts of a budget until you find one that will meet all the needs of your production and is also feasible.
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