Producing Class 10 - Budgeting

Preliminary budget

used to gauge the amount of money needed to greenlight a film. They are proposals of how to do the film. They are designed to be commented on and adjusted.

Budgeting

a prepared conjunction with a script breakdown and production schedule to determine whether a project is doable.

Production data

is translated into manhuas, pay scales, salaries, location fees, anticipated rentals, etc.

Estimates

you can begin to visualize the size of the production, the number of locations and studio days, the number of cast and crew, all the production design elements, and everything else outlined in the script breakdown.

research, look up rates, and negotiate fees

when in doubt…

track costs

Before the budget is locked,… to determine how much was spent versus what was budgeted for

Top Sheet

is divided into three sections. The top section contains the contact details, lists the shooting format, number and types of locations, and the number of shooting days.

Above-the-line

The middle section contains the subtotals for each of the sections later in the budget. It also has line items for the insurance fee, production fee, and other contractual fees.

Below-the-line

The bottom section is for the Comments/Assumptions—a place to state what assumptions the budget is based on, e.g., a union or non-union crew, what is included or not included in the budget.

Accounts

Number system for coding production - related expenses. Each category has an … number.

sub accounts

After the 2-page top sheet, the budget is broken down and detailed by …

Critical assumptions

variable factors that the budget is based on

schedule

location

State where in the world you plan to shoot: cities/states/countries.

crew size

the total number of people hired to work behind the scenes to produce a motion picture, distinct from the cast (actors) in front of the camera

Guilds

a labor union or professional association representing creative and technical workers

Cast Costs

the total financial compensation and related expenses for all actors who appear in a movie

A-listers

a top-tier, highly famous, and commercially valuable actor or entertainment figure whose involvement draws major public attention and influences a project's financing or success

Post-production

The final stage filmmaking that happens after all shooting and principal photography are complete. During this phase, raw video clips, audio recordings, and visual elements are assembled, edited, and polished into a finished, watchable film.

Fringes

Additional costs on top of an employees rate. Include taxes, guild fees, and payroll fees that need to be paid for each employee on your production.

Contingency

Generally an additional 10% of total budget to accommodate for unforeseen averages.

Allowances

A common budgeting term used to indicate that, although there will be an expense in a certain account, the detail of that expense is unknown.

Flat rate

a single, fixed fee charged or paid for a specific project, service, or day of work, regardless of how many hours the task actually takes to complete

chart account

a numbered master list of financial accounts that a movie or television production uses to organize its budget, code every expense, and track the general ledger

cast

budget predicts… accounting tracks them.

tracking

Once a film is greenlit and monies are discussed, the focus shifts to…

ballpark number

set a goal for a budget

number

think of everything you could possibly need and put a …

line item

Go through each … and decide if you need to put a cost there

list

keep a … of line items you to research

pad

…your numbers

domains

don’t factor in possible…