HomeMy WebLinkAbout5.3a Food Truck Festival 2023 Budget Amendment
TO: Board of Directors, Cottage Grove Convention and Visitors Bureau
FROM: Jaime Mann, Assistant to the City Administrator
DATE: June 23, 2023
RE: Food Truck Festival – 2023 Budget Amendment
Discussion
Discover Cottage Grove is well on the way to planning our inaugural Cottage Grove Food Truck
Festival. With the planning, an updated budget for the Convention and Visitors Bureau (CVB)
needs to be considered by the Board. The event will take place at Kingston Park on Saturday,
September 16 from 11 A.M. to 6 P.M.
Budget
During the initial planning of the event, a projected budget was completed showing a profit of
approximately $550. Now that some of the items have been confirmed, the projected budget
includes revenue and expense actuals along with projections.
Revenue
Revenue Projections
Reservation Fee From Food Trucks $8,750
Percent of Alcohol Sales from Lions Club $
Sponsorship: Dodge Nature Center $500
Sponsorship: 3M $250
Sponsorship: Tennis Sanitation $2,000
Sponsorship: Chamber of Commerce $250
Total Revenue Projected $11,750
The event will host 25 food truck who each pay $350 to reserve their space for a total of $8,750.
The CVB will also be receiving a percentage of the alcohol sales from the Lion’s Club although
with no prior year comparison, an estimated donation is difficult to project. The CVB is also
promoting sponsorships for the inaugural event and to date, a total of $3,000 in sponsorship has
been secured. The CVB would welcome any local businesses that would like to sponsor the
event and some area businesses have been contacted regarding sponsorship opportunities.
The total projected revenue for the event, not including a projected donation from the Lion’s
Club, is $11,750.
Board of Directors, Cottage Grove Convention and Visitors Bureau
Page 2 of 2
Expense
Expense Projections
Portable Restroom Units $1,000
Stage and Tent Cover for Entertainment $5,500
Entertainment (Two Performers) $1,550
Music Production $800
Dumpsters $2,000
Shade Tent $2,600
Shirts For Volunteers $200
Kid’s Activities (Four Separate Activities) Donated
Total Expense Projected $13,650
Total expenses include all elements needed to run a successful event. Portable restroom units
and dumpsters total $3,000. All elements of on the stage, production, and entertainment equal
$7,850. Shade tents for attendees to sit and eat under are approximately $2,600 and shirts for
the volunteers equals approximately $200. There will be at least four separate kid’s activities at
the event and those are donated by various organizations from Cottage Grove.
With a total revenue projection of $11,750 as of right now and total expenses projected at
$13,650, equates to a net loss of $1,900. The CVB is still determining events and activities to
host at the Food Truck Festival and therefore the 2023 projected budget is meant as a guide
that allows for flexibility to adapt and change as we move forward.
Recommendation
Approve adding the revenue and expenses for the Cottage Grove Food Truck Festival to the
Convention and Visitors Bureau 2023 budget.