Budget

1. Rough estimate of production costs
Each production has its own budget to cover everything except royalties and poster / programme printing (which come out of a separate theatre fund.)
 - As a general rule the amount will be the same for each standard production, based on figures advised by the NVT Treasurer.
Production Specification
 - A rough estimate of costs should, as far as possible, be provided in the Proposal to Direct, or at least discussed at the Pre-production Meeting, so that any unusual costs can be identified and agreement sought. At this stage the budget should be agreed in principle.

2. Providing a written budget
The Director should obtain a Budget Form by the Pre-production Meeting.
 - The form must be completed as fully as possible and presented at the Production Meeting.

3. Keeping to the budget
Any items that would bring the budget over its limit must be discussed with the NVT Committee prior to any expense being incurred.
 - In occasional cases, specialist equipment may be purchased out of NVT funds, (i.e. separate from the budget for that specific production) with Committee approval.

4. Recording expenses
The Director / Production Manager should keep a clear record of all expenses for the production. It is essential to obtain and keep receipts for all expenditure.
All expenditure on a production should be first cleared with the Production Manager.

5. Claiming expenses
Records of expenses and receipts should be presented to the NVT Treasurer for reimbursement.
 - Expenses can only be reimbursed on presentation of receipts.
 - Please provide the bank details for a swift transfer.

6. Permissions / rights / royalties
Performing rights for the season are obtained by the Treasurer and paid for out of a central budget.