Small Farm Financial College Session 3: Managing Your Small Farm's Finances

Tuesday, January 30, 2024 - 6:00pm to 8:30pm
Location:
Christopher's Farm Goods & Provisions, 128 E Market St, Cadiz, OH
Contact email:
Contact name:
Erika Lyon
Contact phone:
740-264-2212

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This college is designed to help landowners examine potential ways to increase profits on their small acreage properties. The program is open to all new or aspiring farmers, new rural landowners, small farmers, and farm families looking for new ideas. During this college, participants will be challenged to develop realistic expectations for their new farm business. They will receive information on getting started, identifying the strengths and weaknesses of their property, and developing a farm business plan. Information on farm finances, insurance, liability, labor and marketing will be covered during the college.

 

Session I: Getting Started on Your New Farm Business

January 16 @ The Pike 40, Belmont, OH

  • Developing real-life expectations for your farm
  • Assessing your property and resources
  • Developing a mission and goals for your farm
  • Developing a farm business plan
  • Farm business structures

 

Session II: You Can’t Measure What You Don’t Track. Recordkeeping, Budgets and Taxes

January 23 @ Black Sheep Vineyard, Adena, OH

  • Recordkeeping for farm business
  • Using enterprise budgets to project farm income
  • Developing cost of production projections
  • Introduction to farm taxes

 

Session III: Money, Money, Money! Managing Your Small Farm’s Finances

January 30 @ Christopher’s Farm Goods & Provisions, Cadiz, OH

  • Developing a farm and family balance sheet
  • Cash flow statements
  • Other financial statements- income statements and cash flow
  • Managing family & farm income and expenses

 

Session IV: The Legal Side of Farm Financial Management

February 6 @ Deerassic Park, Cambridge, OH

  • Legal instruments for farm financing
  • Loan options for small farms
  • Farm leases and contracts
  • Overview of risks on the farm
  • Liability insurance

 

Register online at go.osu.edu/2024eohsmallfarm or call 740-264-2212.

Payment method - to pay by card, go to go.osu.edu/jeffersonextensionpayment and complete the form with the name of the program (open and complete in a new tab or window). Checks can be mailed to the Jefferson County Extension office at 500 Market St, Suite 512, Steubenville, OH 43952. Make checks out to OSU Extension.

Cost: $25/person/session, which includes program materials and a meal; $100/person to attend all 4 sessions.

*If you are seeking your Beginning Farmer Certification, there will be additional assignments to turn in for review. Cost to receive certification is $300, which is eligible for a tax credit under HB 95.