NextGen Farm Management Series

New farmers and first-time farm buyers can learn how to improve their farm profitability during this four-part workshop series. The NextGen Farm Management Series runs February 2, 9, 16 and 23 from 6:30 to 9 pm at the Robert Fulton Agriculture Center, 8770 State Route 108, in Wauseon. The event will focus on cost control and farm profitability, said Eric Richer, OSU Extension educator.

“Although the series targets ‘next generation’ farmers, couples and first-time farm buyers, any farmer is welcome to participate to learn more about how to improve their farm operation,” Richer said. “The meetings will also provide participants the information they need to analyze and benchmark their farm enterprises against others in the Midwest.”

The series is taught by OSU Extension educators and specialists, and agriculture industry professionals. Topics will include:

• February 2: making your records do more than the tax return, an introduction to the FinPack financial analysis system and balance sheets
• February 9: developing your farm’s business plan, completing the income statement and cost analysis
• February 16: grain marketing and crop insurance strategies, calculating each enterprise’s cost of production
• February 23: options for paying members in a family farm LLC, completing the ending balance sheet and making adjustments

At the end of the series, each farmer will have the opportunity to submit at an additional cost, the FinPack analysis to benchmark their farm against others in the Corn Belt or use the financial statement data on their own.

Registration for the series is $40 per person or per couple by January 29. The cost includes materials and light refreshments. For more information, contact Eric Richer at 419-337-9210, richer.5@osu.edu. Details about the event, including a downloadable, mailable registration form and a link for online registration can be found on the OSU  Extension – Fulton County web site at http://fulton.osu.edu.