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December 22, 2009
Workshop series focuses on farm financial management
WEST LAFAYETTE, Ind. - Farmers often feel more comfortable managing crops and livestock than they do managing their money. Providing them the knowledge and tools to better handle the financial side of their operation is the goal of a Purdue University workshop series.Charting Your Farm's Financial Future will take place in Tipton and Rochester in January and Paoli in February. The identical programs are sponsored by Purdue Extension's Women in Agriculture Team.
Each workshop will address such topics as balance sheets, income statements, cash flows, financial analysis, performance ratios and managing risk. Speakers include Freddie Barnard, Purdue Extension agricultural finance and farm management specialist; Lynn Lambert, a certified public account with Lambert, Lanoue & Smoker LLC of Monticello; and representatives of Farm Credit Services of Mid-America.
"The reason we're doing this workshop series is because we get a lot of feedback from farm families who want this kind of information," said Kelly Heckaman, educator, Purdue Extension Kosciusko County and the workshop series coordinator. "That's especially true of farm wives, who often are the ones doing the recordkeeping and making financial management decisions."
Barnard will speak on "Measuring and Analyzing Farm Financial Performance," while Lambert will address "How to Minimize Your Financial Risk."
"The representatives from Farm Credit Services will take workshop participants through a case study to help participants understand what the numbers mean for a typical farm family," Heckaman said. "When workshop participants go home they will more easily be able to analyze their own farm financial information."
Workshop dates, times, locations and contact information include:
* Tipton - Jan. 26, 9:30 a.m. to 3:30 p.m. EST, Extension Education Center at the Tipton County Fairgrounds, 1200 S. Main St. 765-675-1177.
* Rochester - Jan. 28, 9:30 a.m. to 3:30 p.m. EST, Fulton County Fairgrounds Extension Office, 1009 W. Third St. 574-223-3397.
* Paoli - Feb. 4, 10 a.m. to 4 p.m. CST, Community Center at the Orange County Fairgrounds, 1075 Sandy Hook Road. 812-723-9300.
Workshop registration is $30 per person and $15 for each additional person from the same operation or family. Registration fees increase $10 per person after the Jan. 19 deadline. Checks are payable to Purdue University and can be mailed to Purdue Extension - The Education Store, 231 S. University St., West Lafayette, IN 47907-2094. Registration also can be paid by credit card by calling 1-888-398-4636, Ext. 46794, or by logging onto https://www.agriculture.purdue.edu/wia
A workshop brochure with additional information and a registration form can be downloaded at https://www.agriculture.purdue.edu/wia/2010%20WIAFinancial.pdf
Writer: Steve Leer, 765-494-8415, sleer@purdue.edu
Source: Kelly Heckaman, 574-372-2340, kheckaman@purdue.edu
Ag Communications: (765) 494-8415;
Steve Leer, sleer@purdue.edu
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