Assignment Objective - Utilizing actual data from the 2018 Ottawa Bluesfest, your team has an opportunity to develop a master budegt and master cash flow for the 2019 Festival and learn the major elements and flow of a budget.
2018 Data & Notes		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,
- RBC Bluesfest year-end is Aug 31		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
- total attendance at 300,000		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	$116,000.00
Grants - Provincial	$483,000.00
Grants - Regional/City	$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	$16,116,000.00
Expense Categories		Cash payments for expenses are concentrated in the November to August time period
Marketing		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
		marketing and media coverage tend to be most extensive in the February to July time period
Artist Costs		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.
Production Expenses		includes site permits, rental of stages, erection and take-down of stages, production support staff
Overhead		includes all costs to support 3500 volunteer staff, security, utilities,
Total Festival Expenses (estimated)	$15,500,000.00
Net Profit (estimated form the Festival)	$616,000.00
REQUIRED		based on the data provided and the template provided, develop both a detailed income statemet and a detailed cash flow statement for the Festival.