5.2.a     General Notes:

All net proceeds from the Annual Meeting are split 50/50 between the HC Chapter and ERAPPA.  ERAPPA's portion is used to replenish the Professional Development Fund.  Registration fees alone will not cover the entire cost of the Annual Meeting and it is necessary to generate additional revenue by selling Exhibit Hall booths and sponsorships to Business Partners.

For tax reasons, it is recommended that the HC arrange to have a professional Conference Planner collect all revenues for the Annual Meeting.

As a general guideline, the HC should target a net gross profit of between $40,000 to $50,000 dollars (before the split between Host Chapter and ERAPPA). Refer to Appendix J: Historical Annual Meeting Financial Summary and Appendix K: Sample Annual Meeting Final Budgets for financial information on past Annual Meeting's.

5.2.b     Budget:

The HC is responsible for developing a budget and tracking revenue & expenses for the Annual Meeting.  Refer to Appendix L:  Sample Annual Meeting Budget Template for the preferred format. A preliminary budget is prepared by the HC as soon as planning starts, ideally once the hotel contract is signed.  The budget is updated regularly as new information becomes available.  The HC provides a draft budget 12 months prior to the Annual Meeting and monthly updates thereafter until the time of the Annual Meeting that the VP for Annual Meetings reviews with the ERAPPA board.  The HC presents an updated budget to the ERAPPA Board at the Mid-Year meeting for final approval.  The HC provides hotel pickup, registration summaries and final registrant (including Business Partner) list immediately following the Annual Meeting and a budget report by mid-December to the ERAPPA Board.   A final financial report is due by the time of the March MYM following the Annual Meeting.  An initial profit split and dispensation of funds to ERAPPA and the Host Chapter is done according to the mid-December financial report.  Any funds that are not reconciled are held until the final budget is presented by the March MYM following the Annual Meeting when the remainder of the final profit split and dispensation of funds is done.

5.2.c     Registration Fees:

Registration fees and exhibitor booth costs are set by the ERAPPA Board, well in advance of the Annual Meeting.  Refer to Appendix M: Annual Meeting Registration Fee Schedule for a current list of fees.  Other registration fees such as special event program events are at the discretion of the HC in discussion with the VP Annual Meetings.  It is recommended that the HC set and charge a nominal fee for any special Professional Development program offerings that require computer setups and/or have enrolment limits so that attendance can be better ensured/managed. 
 

5.2.d     Seed Money:

A $5,000 loan from ERAPPA is available to the HC in advance of the Annual Meeting.  ERAPPA recognizes that there may be expenses prior to the Annual Meeting that the hosting Chapter cannot finance.  The HC can make the request for this seed money, in writing, to the VP Annual Meetings at any time prior to the Annual Meeting.  The request should include what the seed money will be used for.  If a HC requires seed money in excess of $5,000, the request can be made as noted above. The seed money loan is a meeting expense and is repaid to ERAPPA before the conference profit split is calculated.