Budget Outline Need It
- Thread starter robeditor2003
- Start date
robeditor2003
Well-known member
Re: Budget Outline Need It
Excel would be cool
thanks
Excel would be cool
thanks
robeditor2003
Well-known member
Re: Budget Outline Need It
thanks for the info,
rob
thanks for the info,
rob
Jordanfilm
Member
Re: Budget Outline Need It
I checked out that the link with the sample budgets--real cool!
But, what does Contingency @10% mean?
That's a lot of dough!
I checked out that the link with the sample budgets--real cool!
But, what does Contingency @10% mean?
That's a lot of dough!
Barry_Green
Moderator
Re: Budget Outline Need It
Contingency is a budget line item you put in to deal with unexpected expenses. Something always comes up -- an actor gets sick, causing a production delay... or the location you thought would be perfect is no longer available, or some creep extorts money from you to get him to turn off his lawn mower... there's always some unexpected expense, so responsible producers will budget in 5% to 10% in a "contingency" fund to cover those expenses and avoid running over budget.
Contingency is a budget line item you put in to deal with unexpected expenses. Something always comes up -- an actor gets sick, causing a production delay... or the location you thought would be perfect is no longer available, or some creep extorts money from you to get him to turn off his lawn mower... there's always some unexpected expense, so responsible producers will budget in 5% to 10% in a "contingency" fund to cover those expenses and avoid running over budget.
Jordanfilm
Member
Re: Budget Outline Need It
I'm producing two shorts myself so I completely understand unexpected expenses. Thanks!
I'm producing two shorts myself so I completely understand unexpected expenses. Thanks!
Re: Budget Outline Need It
The bolded numbers are called Account numbers. They basically are there so you can find sections of the entire budget. For instance:
02-00 is script on the summary page meaning that SCRIPT is 02 section. So when you break the script down more it goes like 02-01, 02-02, or the way I do it is 02-10, 02-20 and so forth.
Example:
02-00 Script
02-10 Story Rights 60,000.00
02-20 Writer Salary 60,000.00
02-30 Research 100.00
Then you go more in depth:
02-11 Tyler Gred 59,999.00
02-12 Speezy 1.00
02-21 Tyler Gred .......
02-22 Speezy ..........
And so forth.
There are many ways to go about doing this. If you like another structure, stick with that. Just make it easy for someone who doesn't know about filmmaking and budgets (although I'm sure they will know something about budgets if they got money) easy to read and understand. Hope this helps.
The bolded numbers are called Account numbers. They basically are there so you can find sections of the entire budget. For instance:
02-00 is script on the summary page meaning that SCRIPT is 02 section. So when you break the script down more it goes like 02-01, 02-02, or the way I do it is 02-10, 02-20 and so forth.
Example:
02-00 Script
02-10 Story Rights 60,000.00
02-20 Writer Salary 60,000.00
02-30 Research 100.00
Then you go more in depth:
02-11 Tyler Gred 59,999.00
02-12 Speezy 1.00
02-21 Tyler Gred .......
02-22 Speezy ..........
And so forth.
There are many ways to go about doing this. If you like another structure, stick with that. Just make it easy for someone who doesn't know about filmmaking and budgets (although I'm sure they will know something about budgets if they got money) easy to read and understand. Hope this helps.
Re: Budget Outline Need It
[quote author=Speezy link=board=MesPhotos;num=1088817991;start=0#13 date=07/28/04 at 08:47:47]Also, I'll be producing and directing an independent documentary but I am looking for funding so I'll be showing the budget around. How much do you guys think is too much to ask for in a budget?[/quote]
There really is no answer to this question. You need to break down you script and figure out a shooting schedule. From there you should have a better understanding of the amount of funds you will need to finish the project. Always remember to over estimate (not drastically). It never looks good going back to an investor asking for more money. Besure you go through you budget a couple of times before you put it in your business plan too. I usually figure out ways to cut hundreds and in some cases thousands of dollars by going back through the budget several times.
[quote author=Speezy link=board=MesPhotos;num=1088817991;start=0#13 date=07/28/04 at 08:47:47]Also, I'll be producing and directing an independent documentary but I am looking for funding so I'll be showing the budget around. How much do you guys think is too much to ask for in a budget?[/quote]
There really is no answer to this question. You need to break down you script and figure out a shooting schedule. From there you should have a better understanding of the amount of funds you will need to finish the project. Always remember to over estimate (not drastically). It never looks good going back to an investor asking for more money. Besure you go through you budget a couple of times before you put it in your business plan too. I usually figure out ways to cut hundreds and in some cases thousands of dollars by going back through the budget several times.
Speezy
Active member
Re: Budget Outline Need It
This is so helpful! Now for the good part, how much does one usually budget in for themselves? I'm sure for a first timer, asking for $500,000 as a producer/director is insane so what's a ball park figure that won't get you laughed out of a potential investor's office?
This is so helpful! Now for the good part, how much does one usually budget in for themselves? I'm sure for a first timer, asking for $500,000 as a producer/director is insane so what's a ball park figure that won't get you laughed out of a potential investor's office?
Re: Budget Outline Need It
Believe it or not, investors like to see that they are paying you. It gives them confidence that you will spend your time on the project and not have to work to support yourself. What I would do is I would just go with the DGA salary. Even if you are not in the DGA it's still a good point to start plus you can show them that it's what the union pays and they will know you didn't just come up with some figure. Of course use the DGA minimum wages...
Believe it or not, investors like to see that they are paying you. It gives them confidence that you will spend your time on the project and not have to work to support yourself. What I would do is I would just go with the DGA salary. Even if you are not in the DGA it's still a good point to start plus you can show them that it's what the union pays and they will know you didn't just come up with some figure. Of course use the DGA minimum wages...