The Physician Organization must have overall accountability for the finances of the CPD activity.
The SPC should aim to be financially self-sustaining. Surplus funds generated from an activity should be earmarked for the planning, development, or delivery of subsequent activities of a recurring nature. Surplus funds from a single, non-recurring event should be returned to the physician organization and be used to support continuing education activities in the organization.
The responsibility for payments may be delegated to a third party only if it is non-profit. The physician organization must retain overall accountability for all payments.
A budget with all projected revenues/funding from all sources, and expenses, is to be submitted with the application package.
Funding/revenue may include external from for-profit or non-profit sources, internal funding, and registration fees (with number of attendees expected). Expenses differ greatly per event, but detailed general expenses such as venue, honoraria, catering, travel, etc. need to be included.
Identify expenses AND all sources of funding/revenue directly on the budget, as well as how any surplus or deficit will be handled. The budget should be a stand-alone document.