PLATTSBURGH - Cornell Cooperative Extension offices across the North Country will host sessions of a two-workshop called "Take Control of Your Business: Managing Cash Flow," beginning next week.
Cornell Cooperative Extension of Clinton County, 6064 State Route 22, will host a one-day training session Wednesday, March 9, from 12:30 to 2:30 p.m. The workshop will answer questions for farmers about paying bills, where money goes once paid out and helping plan for a "rainy day." On Thursday, March 10, Cornell Cooperative Extension of Essex County, 3 Sisco St., Westport, will host the same workshop.
"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," said Cornell Cooperative Extension of Essex County executive director and course instructor Anita Deming.
Farmers who want to know they are prepared for periods of high and low cash flow will benefit from this training, Deming added.
"This educational opportunity goes well beyond just keeping a checkbook and offers the opportunity to analyze your business and plan for stability and profitability," she said.
Course sections address the factors influencing cash flow verus profitability, the seasonality of farm cash flow, and how better records lead to better decision-making. 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.
The course, said Deming, is 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. For more information or to register, call 561-7450 in Clinton County and 962-4810 in Essex County.