What is the purpose of having a budget when managing a race?

The purpose of having a budget when managing a race is to outline financial resources and expenses. A well-prepared budget serves as a comprehensive financial plan that details anticipated revenues and expenditures for the event. This includes costs such as permits, venue rentals, marketing, staffing, and equipment needs, as well as expected income from registration fees, sponsorships, and merchandise sales. By clearly laying out these financial components, organizers can ensure that the race remains financially viable and meets its goals, while also allowing for informed decision-making and adjustments throughout the planning process. Having this structured financial overview helps to prevent overspending and ensures that all necessary resources are adequately funded.