The financial control of the event is a crucial factor for success. Financial matters include: budgets, accounting procedures, handling of cash and control measures. Other areas of relevance are: contracts, insurance and administrative services.

A Head of Finances should be appointed to control all financial matters described above.

1. The budget

The first task would be to develop a consolidated budget using input from the different Heads of Sections and review this for accuracy and completeness.

At this stage areas of the event where income could be lower than expected should be identified. Countermeasures should then be agreed upon where expenditures could be reduced.

Organising an event will often be an administrative strain, the budget should reflect the extra administrative costs that are expected both in terms of extra staff, communication costs or simply photocopying.

2. Cash flow

Areas where there is significant cash flow must be identified. The Head of Finances should ensure that procedures are in place to provide security for those carrying cash and to prevent fraud. The areas of sales and the payments to volunteers are most exposed. Security of the cash received and its transfer to a bank is also of prime concern.

Income often comes at the end of the event whereas the expenditures start from day one of planning. To avoid cash flow problems a projection should be made to ensure that sufficient cash is available throughout the event. 

3. Contracts

The most important contracts for Championships are with sponsors, television and Badminton Europe, whilst the most important contracts for Circuit tournaments are with sponsors and television. These contracts must be thoroughly reviewed before final agreement. The focus should be on tax exposure, payment timescales, penalties and currency liabilities.

Other contracts may exist with the venue, shuttle supplier, equipment supplier, merchandising designers, caterers, hotels, transportation, subsidiary sponsors, travel agents, airlines, etc.

All the contracts should be reviewed to ensure that they are complete and that there is no conflict between the deliveries of the different contracts.

4. Insurance 

The risks to the event should be assessed and insurance in case of cancellation should be obtained. Some force majeure risks to the event are:

-natural disaster
-civil unrest
-sponsors financial collapse