Franklin County Helps Farmers Plan For The BY BONNIE BREtSHBILL Franklin Co. Correspondent CHAMBERSBURG “There is a good future for the soundly managed family farm,” Roland Freund, Penn State Extension farm-management agent "Said. “Farmers will have to explore dif- panel of ;al farmers talked about their experiences with hired help. They are, from left, Fred Rice, Lane Sollen berger, Joe Mlddour, and Dice Statler. Corrosion Resistant Materials Company P.O. Box 848 Farmingdale, NJ 07727 Toll free: 1-800-322-CRMC For Fast Service Phone: 201-938-5500 *Fabral is a trademark ol Alcan Aluminum Corporation ferent strategies and adopt the most profitable plans.” Freund addressed farmers and their families at the Farm Planning for the ’9os workshop held last week. The workshop, held at the Lighthouse Restaurant on Route 11, was co-sponsored by the Franklin County Extension and several local financial institutions. To survive the ’9os, fanners must maintain profitability, liquid ity, and solvency, according to Freund. Profit must be high enough to meet the needs of the family, to cover debt obligations of "Back in 19721 made two decisions that made my life a lot better. First, I married Nancy McGinnis.That same year she convinced me to put Fabral™ siding and roofing panels on our buildings. Even after all these years, Nancy and Fabral are still as good looking and as durable as ever!” ,cc If you're looking for siding and roofing that will last, then you want Fabral Behind its good looks is a carefully engineered system that gives remarkable durability and design flexibility. To find out more, just call us at our toll free number Lancaster Farming Saturday, February 18,1989-D9 the business, and to provide a reserve to cover losses in a bad year. Symptoms of inadequate profit are feed and fertilizer bills not being paid on time, debt pay ments not being met, and normal family living needs not being satisfied. Liquidity is the same as cash flow, according to Freund. “There must be a sufficient inflow of cash to meet the outflow, and unless the cash flow is generated from profit, the future of the business is very doubtful,” he said. Solvency is the same as equity. The more equity there is in the bus iness, the greater the chance for survival. Progress may be mea sured annually by looking at the change in equity. To help farmers plan their finan cial alternatives, FINPACK, a computer analysis system, has been developed and is available through local extension offices. In predicting the financial cli mate of the ’9os, Freund believes that interest rates are expected to rise again, that there will be some dry years, and that the farm crisis Pfr'V k ' ': . ■ *'?.> * y i, . 4 ’9os will catch up with the East. “The farm crisis isn’t over yet,” he warned, “and it’s moving east. It was created with too much invest ment with too little profit.” Freund also projected that prices will fluctuate and that the U.S. government, struggling with its own deficit reduction, will be less generous to farmers. Competition in southeastern Pennsylvania will increase, Freund said. There will be more pressure from urbanization, labor will be more difficult to find and keep, and farm financing may be harder to find. Keeping good labor “Help is tough to come by,” Fred Rice told attendees. “Hiring the right person is important.” Rice, a dairyman with about 400 head of cattle, participated on a panel of four Franklin County far mers who shared their strategies for keeping good farm labor. Rice provides employees with housing, utilities, beef, milk, and health insurance, and allows them to have a sideline such as raising their own animals. He has had employees for about 11 years. Rice stressed the importance of allowing employees to work around their abilities. “Some of (mine) do certain jobs better than I do,” he commented. (Turn to Pago DIO) WHY CALL US Because Of The Lowest Hourly Rate! Because We Understand Your Needs! Because Of A Large 2000 Gal. Water Tank Means Less Working Time, Less Running For Additional Water! Because Labor Charges Begin When We Begin Working, Not When We Leave Home! Because I Care About The Quality Of My Work! WHY NOT CALL US For All Your Pressure Washing needs Agricultural And Industrial G&G Pressure Washing 1821 Maytown Rd. Phone Elizabethtown, PA 17022 *< 717-367-3649 ‘rrt %: '}
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