Managing your farm business is always important but the difference in just doing it and doing it well can be big during challenging times. When commodity prices are down, it is crucial to understand your balance sheet, maintain a good relationship with your lender and carefully consider budgets for next year. These topics will be covered during a 5-night Farm Management School in Urbana beginning in December.
During the first session, learn how to properly complete your end of year balance sheet from Greg Knight with Civista Bank. Chris Bruynis, OSU Extension, will provide tips on tax issues that make the most sense for your farm business. During the next session, a panel of agricultural lenders will talk about what they would like to see from farmers before making a loan and will answer questions from the participants.
Legal issues can be very specific to agriculture and also very complicated. Peggy Kirk Hall, OSU Extension Agricultural Law Specialist, will discuss the legal issues that are most important to the class. Another complicated issue that can be difficult to make a decision on is healthcare. The fourth session will focus on the issues farmers face with healthcare and a healthcare professional will cover any changes and updates to the current system.
Lastly, Barry Ward, OSU Extension, will talk about commodity budgets for 2018 and take a look at cash flow to help you prepare for the 2018 season.
The session dates are Dec 6, 20, and Jan 3, 17 and 31. They begin at 5:30 p.m. with dinner and the program will run 6-8 p.m. The cost to attend is $50 per farm and RSVPs are due Nov 27. Class space is limited so register early. Download the registration flyer at http://go.osu.edu/agevents. Childcare is available for $10 for the first child and $5 for each additional per night due day of. For questions about the program or to register with a credit card, please contact Amanda Douridas at 937-484-1526 or [email protected]
Amanda Douridas is Champaign Agriculture and Natural Resources Extension Educator, The Ohio State University Extension.