Assignment Objective - Utilizing actual data from the 2018 Ottawa Bluesfest, your team has an opportunity to develop a master budget and master cash flow for the 2019 Festival and learn the major elements and flow of a budget.

Based on the data provided and the template provided, develop both a detailed income statement and a detailed cash flow statement for the Festival.

2018 Data & Notes RBC Bluesfest year-end is Aug 31 - total attendance at 300,000 2019 was the 25th anniversary of Bluesfest. Musicians such as Sting, Bryan Admas, Blue Rodeo, Black Eyed Peas, Bonnie Raitt, Van Morrison, White Stripes, Tragicaaly Hip, Jeff Beck, Kiss, Rush, Arcade Fire, Santana, Steve Miller, Dixie Chicks, BB King, Kanye West, Iggy Azalea, Red Hot Chili Peppers, Pink, Tom Petty, Foo Fighters, Dave Mathews Shawn Mendes, Killers, Eric Church, Back Street Boys, Snoop Dog 77% repeat customers; 55% of the Ottawa population had attended Bluesfest in the last 5 years; 94.6% positive rating of the festival The companies year end is August 31 Revenue Sources Grants - Federal Grants - Provincial Grants - Regional/City $ $ $ 116,000.00 483,000.00 135,000.00 Event revenue $ 11,534,000.00 concert occurs in early/mid July - 10 days; five stages in use cash receipts for tickets start in February when the summer line-up is announced and tickets are released includes: advance ticket sales tickets go on sale when the line-up is announced in late January, early February of each year Presale prices are tiered (1 and 2) - $ 209 plus HST and $229 plus HST Under 19/Youth Festival Passes $109 plus HST Under 25/Youth Festival Passes $139 plus HST Day Passes Regular daily festival pricing VIP Sales indiviudal - $239 plus hst avg; max 200 tickets per day go on sale in February; $249/ticket individual; VIP Group Packages $4800 per package; max of 40 per day beer sales beer was priced at $10 with 300,00 cups sold concession stand commissions RBC Bluesfest will take a 15% of sales from vendors who operate on the site RBC Bluesfest concession RBC Bluesfest runs their own stand where they sell souvenirs for the event Sponsorship Revenue $ 3,848,000.00 Total Revenue from Festival $ 16,1 16,000.00 AutoSave OFF f Wk 14 Hybrid F20 Bluesfest Notes & Draft Master Budget Template 1 Home Insert Draw Page Layout Formulas Data Review View Tell me Share 0 Comments X Calibri (Body) Insert v v 16 - AP y 20 ab Wrap Text General (28-Ou 3 Delete Paste .00 B I U a var Merge & Center $ v % Conditional Format Cell Formatting as Table Styles Ideas Sort & Filter Format v Find & Select Sensitivity C41 X fix based on the data provided and the template provided, develop both a detailed income statemet and a detailed cash flow statement for the Festival. C D E A B ZVI JUICS TIIVIVULI ya pius TSL UV5 TUA LUV CICLE per uuy 21 VIP Group Packages 22 beer sales 23 concession stand commissions 24 RBC Bluesfest concession 25 Sponsorship Revenue $ 3,848,000.00 26 27 Total Revenue from Festival $ 16,116,000.00 28 29 Expense Categories 5 SUICY CIKCTIVICCI ICICIO $4800 per package; max of 40 per day beer was priced at $10 with 300,00 cups sold RBC Bluesfest will take a 15% of sales from vendors who operate on the site RBC Bluesfest runs their own stand where they sell souvenirs for the event Cash payments for expenses are concentrated in the November to August time period estimated marketing costs for the concert are $1,500,000; over 1m unique vists to the website and over 1.8m unique sessions; over 7m social media impressions; 49% male/51% female attendees 30 Marketing 31 marketing and media coverage tend to be most extensive in the February to July time period in the past, these costs have been between $5m and $7m based on who the lead acts were; initial retainer fees (40%) are paid when the act is booked (NOV-March) and the balance is paid after the artist has performed; the lead act could cost up to $1m. includes site permits, rental of stages, erection and take-down of stages, production support staff includes all costs to support 3500 volunteer staff, security, utilities, 15,500,000.00 32 Artist Costs 33 Production Expenses 34 Overhead 35 36 Total Festival Expenses (estimated) $ 37 38 Net Profit (estimated form the Festival) $ 39 40 41 REQUIRED 42 616,000.00 statement for the Festival. You may work in groups up to a maximum of five (4) people Only one student needs to submit in the Week 13 folder BUT please make sure all names are noted. 43 44 45 46 47 48 49 50 51 52 52 Background Notes Excel Template + Edit P 110% RBC Bluesfest Consolidated Master Budget - Income Statement April May June July August Total Total Team x Category September October November December January February March Revenues Marketing Expenses Artists Expenses Production Expenses Overhead Expenses Excess of Revenue Over Expenses RBC Bluesfest Consolidated Master Budget - Cash Flow Statement April May June July August Total Team x Category September October November December January February March Revenues Marketing Expenses Artists Expenses Production Expenses Overhead Expenses Excess of Revenue Over Expenses 2018 Data & Notes RBC Bluesfest year-end is Aug 31 - total attendance at 300,000 2019 was the 25th anniversary of Bluesfest. Musicians such as Sting, Bryan Admas, Blue Rodeo, Black Eyed Peas, Bonnie Raitt, Van Morrison, White Stripes, Tragicaaly Hip, Jeff Beck, Kiss, Rush, Arcade Fire, Santana, Steve Miller, Dixie Chicks, BB King, Kanye West, Iggy Azalea, Red Hot Chili Peppers, Pink, Tom Petty, Foo Fighters, Dave Mathews Shawn Mendes, Killers, Eric Church, Back Street Boys, Snoop Dog 77% repeat customers; 55% of the Ottawa population had attended Bluesfest in the last 5 years; 94.6% positive rating of the festival The companies year end is August 31 Revenue Sources Grants - Federal Grants - Provincial Grants - Regional/City $ $ $ 116,000.00 483,000.00 135,000.00 Event revenue $ 11,534,000.00 concert occurs in early/mid July - 10 days; five stages in use cash receipts for tickets start in February when the summer line-up is announced and tickets are released includes: advance ticket sales tickets go on sale when the line-up is announced in late January, early February of each year Presale prices are tiered (1 and 2) - $ 209 plus HST and $229 plus HST Under 19/Youth Festival Passes $109 plus HST Under 25/Youth Festival Passes $139 plus HST Day Passes Regular daily festival pricing VIP Sales indiviudal - $239 plus hst avg; max 200 tickets per day go on sale in February; $249/ticket individual; VIP Group Packages $4800 per package; max of 40 per day beer sales beer was priced at $10 with 300,00 cups sold concession stand commissions RBC Bluesfest will take a 15% of sales from vendors who operate on the site RBC Bluesfest concession RBC Bluesfest runs their own stand where they sell souvenirs for the event Sponsorship Revenue $ 3,848,000.00 Total Revenue from Festival $ 16,1 16,000.00 AutoSave OFF f Wk 14 Hybrid F20 Bluesfest Notes & Draft Master Budget Template 1 Home Insert Draw Page Layout Formulas Data Review View Tell me Share 0 Comments X Calibri (Body) Insert v v 16 - AP y 20 ab Wrap Text General (28-Ou 3 Delete Paste .00 B I U a var Merge & Center $ v % Conditional Format Cell Formatting as Table Styles Ideas Sort & Filter Format v Find & Select Sensitivity C41 X fix based on the data provided and the template provided, develop both a detailed income statemet and a detailed cash flow statement for the Festival. C D E A B ZVI JUICS TIIVIVULI ya pius TSL UV5 TUA LUV CICLE per uuy 21 VIP Group Packages 22 beer sales 23 concession stand commissions 24 RBC Bluesfest concession 25 Sponsorship Revenue $ 3,848,000.00 26 27 Total Revenue from Festival $ 16,116,000.00 28 29 Expense Categories 5 SUICY CIKCTIVICCI ICICIO $4800 per package; max of 40 per day beer was priced at $10 with 300,00 cups sold RBC Bluesfest will take a 15% of sales from vendors who operate on the site RBC Bluesfest runs their own stand where they sell souvenirs for the event Cash payments for expenses are concentrated in the November to August time period estimated marketing costs for the concert are $1,500,000; over 1m unique vists to the website and over 1.8m unique sessions; over 7m social media impressions; 49% male/51% female attendees 30 Marketing 31 marketing and media coverage tend to be most extensive in the February to July time period in the past, these costs have been between $5m and $7m based on who the lead acts were; initial retainer fees (40%) are paid when the act is booked (NOV-March) and the balance is paid after the artist has performed; the lead act could cost up to $1m. includes site permits, rental of stages, erection and take-down of stages, production support staff includes all costs to support 3500 volunteer staff, security, utilities, 15,500,000.00 32 Artist Costs 33 Production Expenses 34 Overhead 35 36 Total Festival Expenses (estimated) $ 37 38 Net Profit (estimated form the Festival) $ 39 40 41 REQUIRED 42 616,000.00 statement for the Festival. You may work in groups up to a maximum of five (4) people Only one student needs to submit in the Week 13 folder BUT please make sure all names are noted. 43 44 45 46 47 48 49 50 51 52 52 Background Notes Excel Template + Edit P 110% RBC Bluesfest Consolidated Master Budget - Income Statement April May June July August Total Total Team x Category September October November December January February March Revenues Marketing Expenses Artists Expenses Production Expenses Overhead Expenses Excess of Revenue Over Expenses RBC Bluesfest Consolidated Master Budget - Cash Flow Statement April May June July August Total Team x Category September October November December January February March Revenues Marketing Expenses Artists Expenses Production Expenses Overhead Expenses Excess of Revenue Over Expenses