Although the Dalai Lama himself isn't taking any kind of pay or honorarium for speaking at UB, expenses for coordinating the three-day-long visit -- including everything from turning the stadium field into a stage to producing signage for the events -- adds up to nearly $800,000.
Balancing the cost of the visit making headlines for its length and number of events is revenue from ticket sales to the Tuesday Distinguished Speakers Series address at UB Stadium and to the Interfaith Service on Monday as well as corporate and student organization sponsorships.
Although final budget numbers can't be determined until everything is done and accounted for, William Regan, director of special events, expects his event budget to break even.
"I'm counting on a bottom line tally that (sees) revenues covering costs," Regan stated in an e-mail. "As is the case with any big budgets, there could be some deviation from scripted budget, but the cost overruns are usually offset by unanticipated savings."
According to Regan, savings may be found in the final budget because of overestimates of costs.
Projected figures from the Office of Special Events show a total of $794,505 for anticipated expenses, with nearly all of the funds being spent on logistical setup for the Monday Interfaith Service in Alumni Arena and the Tuesday lecture at UB Stadium.
Logistics numbers totaling $719,505 include expenses for stadium floor covering and chair rental, sound systems and big screen image magnification, satellite parking and shuttles and other setup and takedown support.
The remaining $75,000 is shared by marketing for the events (two thirds) and travel and accommodations for the Dalai Lama and his entourage (one third). Marketing expenses include creative and production costs as well as advertising and program production for the main events; travel expenses are a pro-rated fee as part of the Dalai Lama's tour of North America.
Revenue for the three days of events, netted from a combination of ticket sales and sponsorships, total $795,000. According to Regan, sponsors include the Student Association, Graduate Student Association and Student Affairs on campus, as well as corporate donors.
After the numbers are finalized for the budget, any net proceeds will be used to support scholarships for Tibetan and Asian students, according to the request of the Dalai Lama.
Photo: Courtesy of Laron Fomby
