February 23, 2011
Contact: Anita Deming, 518-962-4810 x409
Training Helps Farmers Manage Cash Flow & Costs and Plan for
Northern NY -- Ever asked yourself “How am I going to pay that bill?” or
“Where is the money going?” Would you like to be prepared for that
proverbial “rainy day” that in the farming business that can sometimes
be more like a tsunami threatening your family and livelihood?
Then sign up for the two-hour Take Control of Your Business: Managing
Cash Flow training to be offered from 12:30pm to 2:30pm on:
• Tuesday, March 8 at the Franklin County Court House Kitchen Conference
• Wednesday, March 9 at Cornell Cooperative Extension Clinton County,
• Thursday, March 10 at Cornell Cooperative Extension Essex County,
Course instructor Anita Deming, executive director of Cornell
Cooperative Extension Essex County, says, “We want our farmers to be
prepared for those times when feed and other costs may be high and milk
prices and dairy income may be low as well as take advantage of good
recordkeeping as a way to improve and plan for profitability.”
Deming adds that farmers who want to know they are prepared for periods
of high and low cash flow will benefit from this training.
“This educational opportunity goes well beyond just keeping a checkbook
and offers the opportunity to analyze your business and plan for
stability and profitability,” Deming says.
Course sections address the factors influencing cash flow vs.
profitability, the seasonality of farm cash flow, and how better records
lead to better decision-making. For example, a farmer who operates a
dairy, raises heifers, and sells crops needs to keep records on each
activity to know how much each area is costing and what it brings in.
A course section on reconciling records and cash flow takes into account
expenses, earned and borrowed dollars, and debt payments and will help
farmers track their bookkeeping and determine their accuracy.
Deming says this course is a good preparation for farmers interested in
one-on-one assistance from Cornell Cooperative Extension farm business
educators with participating in the Dairy Farm Business Summary program.
Pre-registration one week before the course date is requested. Contact
Cornell Cooperative Extension in the county of your choice: Clinton
County: 518-561-7450, Essex County: 518-962-4810, Franklin County:
518-483-7403. Credits are available for Farm Credit borrowers. #