Creating Event that execute at end of each month
You should never have to drop and create new events automatically.

You should just make the event repeatable:


Every minute, check the date and time
If the hour is 23 and minute is 50 on the last day of the month, call IncidentsSummaryRecorder();


Here is that code

DELIMITER $$

CREATE EVENT ISRSP
ON SCHEDULE
    EVERY 1 MINUTE
    STARTS '2014-10-31 23:50:00'
    ON COMPLETION PRESERVE
DO
BEGIN
    DECLARE rightnow DATETIME;
    DECLARE hh,mm TINYINT;

    SET rightnow = NOW();
    SET hh = HOUR(rightnow);
    SET mm = MINUTE(rightnow);

    IF DATE(rightnow) = LAST_DAY(DATE(rightnow)) THEN
        IF hh = 23 THEN
            IF mm = 50 THEN
                CALL IncidentsSummaryRecorder();
            END IF;
        END IF;
    END IF;

END $$

DELIMITER ;


Give it a Try !!!