Budgeting WAYC

The National Field Archery Association’s (NFAA) Easton Yankton Archery Complex has spent more than a year preparing for the World Archery Youth Championships (WAYC) which are set to host their opening ceremonies this weekend.

Tournament manager Nancy Wenande said the overall budget for the event is $1.18 million — but how much will actually be spent on certain elements won’t be known for some time.

"A lot of this is still, literally, changing day by day as far as the numbers that we’re quoted for who’s eating the meals, transportation — we are in the process of booking all of the buses right now," Wenande said. "On the hotel side, the cost is going to be over $300,000. We know that the food service will probably be right at about $100,000 for the event."

Wenande pointed out that while local organizers have been fundraising through sponsorships, some of the costs are also covered by the archers themselves.

"The archers coming in pay money towards (this)," she said. "It’s not like the community or we have to absorb the entire $300,000 — they’re paying the housing costs to come in. That’s why we needed to go to the hotels and negotiate rates for those rooms."

Wenande added they have received a lot of help from companies in town to help with expenses as well.

"We had looked at, initially, that we thought we were going to have to fundraise about $400,000,"she said. "A lot of the companies in town have been so gracious to do in-kind work for us that we’re including them in our sponsorship level."

Wenande said promotions and the projects conducted during the last year to prepare for the tournament have been among their biggest expenses so far.

"Some of our biggest expenses have been with banners and the promotional items that we’re putting together to really showcase who our advertisers are and putting together the finals venue," she said. "Our biggest expense would be all of the capital projects that had to be done to get the fields ready for play. We literally had to build First Dakota Field. That wasn’t a part of our budget as a capital expense, but that’s part of the process to host tournaments like this."

Wenande said they won’t have a full scope of expenditures and how they did within the budget until after the tournament ends.

"After this tournament, when we break things down as far as what were the capital expenditures and what were the tournament expenditures and breaking down those costs — that’s where we’ll find out for sure where we’re at within our budget," she said. "We’re reminding everybody that this tournament is run by a non-profit. There will not be a profit made off of this event. We’re actually trying to minimize the amount we will probably lose and hoping that we will break even for the tournament."

She added that after the tournament, they’ll also be able to break down numbers for how much of an economic impact the tournament had on the City of Yankton itself.

The WAYC is set to celebrate its opening on Sunday, June 7, at 4 p.m.

 

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