We published an info graphic earlier which shows what we spent money on for the conference. It only gave a hint of how we spent the money. A month ago our accountant sent us the end result for the financial year 2013 and we thought why not publish it in its entirety?
It might not provide clarity, but we want to make sure everyone knows how we spend the money we get from sponsors and attendees. Attached to this post you will find the results exactly the way our accountant sent them. That means they are in Norwegian.
How we do budgeting
We have divided our budget int two; variable costs and fixed costs (this is probably budgeting-101 and it was something we learned from the amazing Oslo community). Fixed costs are things like venue rent, flying in speakers, speaker accommodation, sound guy at the venue etc. All the fixed costs are covered by our amazing sponsors. They play a huge part in making the conference awesome at an affordable price. If we can not find the money for the fixed part, there will be no Web Rebels.
Within the fixed costs we operate with the 3 levels of awesomeness. We have a bare minimum (awesome level 1) of fixed costs we need to run Web Rebels. That is paying for speakers travel, their stay and their food and renting a venue. If we manage to get more sponsor money than level 1, Web Rebels will run. Then there is level 2 and level 3 of awesomeness which kicks in based on the amount of sponsor money we manage to get. In these levels there are things like having entertainment, having someone film the event etc etc.
What level of awesome Web Rebels run at are all adjusted according to what we can spend. If we mange to get more money; more awesomeness. If we manage to save money on something; more awesomeness.
Variable costs go back to the attendees. They consist of printing t-shirts, breakfast, drinks, etc. All variable costs are covered by ticket sales. If we sell 100 tickets we order 100 t-shirts, 100 lunches, etc. and we have no overhead and loss on that.
The advantage of this separation is that we can run our conference without selling a single ticket. It would be an awkward conference though… It also helps us sleep better at night, as it helps us avoid risking our personal finances.
This document does not provide a lot of clarity. So we wanted to show the attendees how we spent the money they gave us for their ticket. Our goal is to give back to the attendees as much as possible. However, we are coders, and not people used to handling budgets, so we are not quite there yet. We learn each year and 2014 should see an even bigger share going straight back to the attendees.
- Breakfast buffet two days: NOK 110
- Lunch two days: NOK 1 045
- Mineral water: NOK 42
- Tokens to get free drinks at the party: NOK 528
- Plastic badge pockets: NOK 7,44
- T-shirts NOK 91,50
Total: NOK 1,823.94
Our ticket prices vary from 1 953 up to 2 980. Which means most of the money you pay us, goes directly back to you. We’re not masters at budgeting, so we have a small buffer. But, for each year we get better at the whole economics thing which means the buffer is less for each year.
We hope you appreciate our openness and if you have any questions, please let us know and we will answer them.