The only way to cut costs is by cutting variety or type, not quantity (except the BOC ice cream, of course). But since you need to spend what amounts to $50/person, I think this menu will be fine—it may actually not be enough to meet the minimum! Your planner will get a price from the chef, and then you can adjust from there. If you're really close, you might ask the chef to come up with something that will take you up/down to the minimum.