A six-evening farm financial management school is scheduled for Thursday evenings in January and February beginning Jan. 12 and running consecutively through Feb. 16. This year's school is going to focus on helping participants to answer three basic financial questions:
-- Where am I (the farm) financially?
-- Where do I (the farm) want to be financially?
-- How do I (the farm) get there?
The school will be structured to include presentations, discussion and hands-on activities. Participants will learn how to put together and use financial documents to measure their current farm financial situation, track expenses and cash flow, make decisions to help improve or maintain the financial situation and work more effectively with ag lenders.
Topics that will be covered over the six-week school include: Mission statements, balance sheets, cost of production, family living expense, farm income statements, farm cash flow statements, enterprise budgets, benchmarking, financial standards/ratios, record keeping, budgeting, working with ag lenders,marketing and crop insurance. Each participant will receive a notebook with materials and handouts from each session.
The school will be held in the commissioners meeting room located in the upper level of the county administration building, 428 W. Liberty St., Wooster. A light meal will be available each evening at 6:45 and class instruction will begin at 7 p.m. and conclude by 9:30 p.m. Registration cost is $50/person. Sponsorships provided by Farm Credit Mid-America, Farmers National Bank and Wayne Savings Community Bank are helping to cover presenter costs, mileage and materials. Pre-registration is requested to the Wayne County Extension office at 330-264-8722 by Jan. 6 or by email to Lisa Parker, Wayne County Extension office assistant at: email@example.com. A farm financial management school flier with a registration form is available on the Wayne County Extension web site at: http://go.osu.edu/agwayne.