Budgeting for the prom -- it's a dirty job, but somebody's got to do it. You'll want to keep track of every last penny to assure that your costs are being covered and that you're maximizing your funds. Though the average cost for different services varies greatly from state to state, our tips and sample budget allocations will help you get started.
Site: 24%
This cost can range from free (if you're holding the prom in your gym) to well over $2000 (if your venue is a swank hotel ballroom). Other variables that can affect your cost are the timing of your prom (Wednesday - Friday nights are the most in demand, which may up the price), the popularity of the site, and what's included (any added amenities, such as the use of additional rooms).
Food: 22%
The cost of your food depends on the number of prom goers and the nature of your menu. If you are having a sit-down dinner, this expense should be covered by ticket sales, since how many meals you'll need directly correlates to how many tickets are sold. At an absolute minimum, expect to pay $20 to $25 per person for a basic meal (such as chicken). If you are having a buffet dinner or only hors d'oeuvres, your cost per person may be somewhat lower. To stay within your budget, be sure you don't go overboard with menu choices -- anything that's out of season (like fresh fruit) or from out of your area (like some seafood) is going to cost extra. When you're figuring out your food bill, don't forget to budget in any additional costs for waitstaff and rentals (table linens, flatware, and so on) -- plus tips!
DJ: 16%
Music is crucial to prom, so you're probably going to want to hire a professional to handle it. The bare minimum is likely going to be about $900. Your cost will vary depending on the popularity and demand for a certain DJ, how long you'll need him or her, sophistication of the equipment, and any extras they brings (lights, glow sticks, Plasmas, a fog machine etc). Don't forget to budget a 20% tip! Most Prom Disc Jockeys cost between $1200 - $1500 across the US. Try Awesome Club Prom to help Host your Event!
Decorations: 12%
Whether you're going DIY or purchasing ready-made pieces, you'll need a budget for your decor. Before you buy, figure out what you can borrow. For example, if you want thousands of twinkling lights, look no further than the attics and basements of friends and family -- there's bound to be a lot of holiday lights there. If you plan on having floral centerpieces, put aside money for these as well. The type, size, and complexity of floral arrangements times the number of tables or spaces will enable the florist to estimate the cost. If you're using flowers, be sure to choose blooms that are in season -- otherwise, you'll exceed your budget in no time.
Tickets & Programs: 9%
Selling prom tickets will make money, but if you have tickets professionally printed they're going to cost money. Don't forget to budget in the cost of printing your tickets, programs, invites, and anything else you hand over to a pro. How to save? Print materials yourselves on high-quality paper purchased from an office-supply store. If you decide to go with a professional printer, choose matte stock and a single color of ink to save some dough.
Favors: 8%
The cost for favors depends on what you choose. Personalization (with your school name, your prom theme, the date of your prom) will cost extra, but the more favors you need, the less expensive each individual favor will be. Just be sure to order enough so every prom-goer can take something home!
Photographer: 6%
Though prom goers will have to pay for their own prints, they won't be footing the entire photographer bill. Your budget is going to have to cough up some cash to pay for the photographer's time, any assistants they will need, the number and types of equipment brought along, and any other extras (say the photographer creates a backdrop especially for your prom, for example). This is likely to cost around $400 to $500, but fees can vary considerably depending on the photographer. Also New options have emerged, where your Disc Jockey may have Amateur or Professional Photographers on staff - just make sure they are selling you the correct services!
Security: 3%
If your site does not have its own security personnel, you may want to hire a couple of guards (better safe than sorry!). Cost will vary based on how many security people you'll need and for how long. Talk to a faculty or administration member to find out what your school policy is before making your move.
Income: Should Cover 100%
Enough about spending, it's time to make some money! In addition to whatever funds your school's activity budget may have allocated for the prom, you'll also be working with income from fundraisers, donations, and ticket sales. Keep close track of all the cash that comes in. A good idea is to allocate income in advance so that you know exactly what it will cover -- for instance, selling X number of tickets will pay for the catering, this fundraiser will take care of security, 40 percent of your activity fund budget will go toward the site rental, and so on. This can also help with planning fundraisers -- you'll know exactly what your sales goals are and how that money will be spent.
Guest Author: KatWood
