By: Amanda Douridas, OSU Extension Educator – Madison County
Running a profitable farm can be a challenge even with the best of commodity prices. Lower prices and higher inputs facing farmers this year are putting a serious strain on the bottom line. OSU Extension in Madison County is offering a program designed to connect producers to farm management specialists with whom they can share resources, tools and initiate discussion on how farmers can get a better handle on budgets.
This series will dive into areas of the budget where adjustments can be made. We will look at results of the FINPACK benchmarking program to see where Ohio farmers are spending the most. This can provide guidance on how one’s budget compares to other farmers in Ohio. Record keeping is not always everyone’s favorite activity but, in this series, we will see how it can help keep that budget on track.
Weed and fertility management are often the two places farmers look when budgets get tights. This session dives into where costs can safely be cut to help profitability and maintain good agronomic practices.
Of course, taxes are a key factor in farm financial management. Discover new regulations and the sunsetting of the 2018 Tax Cuts and Jobs Act. Lastly, the series will end with a look into organic and alternative crops for those interested in making bigger shift in their operation.
The program is free but RSVPs are required. There is an option to attend virtually or in-person at Beck’s Hybrids. 720 US Hwy 40, London. Each offering of the workshop will be held from 9:00 to 11:00 a.m. Feel free to register for sessions individually and at anytime throughout the series.
RSVP: go.osu.edu/loseless.
DECEMBER 3- Budget Bootcamp
- Enterprise budget overview and cost control- Barry Ward, Director, OSU Extension Income Tax School Program; Leader, Production Business Management
- Calculating (and reducing) the ‘Tricky Two’ Fixed Costs in an Enterprise Budget- Eric Richer Associate Professor and Field Specialist, Farm Management
JANUARY 8- On The Record
- Record keeping strategies to keep a budget on track- Bruce Clevenger, Associate Professor and Field Specialist, Farm Management
- Ohio Farmers: What categories have the biggest impact on profits- Clint Schroeder, Program Manager, Farm Business Analysis
JANUARY 21- In the Field
- Nutrient management: how to decide where to cut budget- Amanda Douridas, CCA, OSU Extension Madison County
- Weed mgt: Reducing costs here and switching to non-GMO- Dr. Alyssa Essman, Assistant Professor, Weed Science
- Vetting products before going all in- Amanda Douridas
FEBRUARY 4- Life, Death and Taxes
- Farm Tax Update and Managing for the Sunset of 2018 Tax Cuts and Jobs Act- Barry Ward and David Marrison, Professor and Field Specialist in Farm Management; Interim Director for the Farm Financial Management & Policy Institute
FEBRUARY 18- Organic and Alternative Crops
- Hurdles associated with Organic Grain Transition- Eric Richer
- Alternatives to Corn and Soybeans- Dr. Osler Ortez Assistant Professor, Corn & Emerging Crops