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FARM FINANCE FOR WOMEN

Extension Education

Julia Woodruff
EXTENSION EDUCATOR, ANR
OHIO STATE UNIVERSITY EXTENSION
SANDUSKY

Abstract

\r\n The Farm Finance for Women workshops are designed to address the area of financial risk management. After completing several Annie’s Project workshops, educators realized a need to provide more in-depth workshops focusing on the development of financial statements, recordkeeping, relationship with money and financial analysis of the farm business. As a result, the Annie’s Project co-coordinators wrote and received a North Central Risk Management Education Center Grant to develop a new Annie’s Project, level two workshop. It is designed for a class size of ten women, meeting four times for three hours. Session one includes exercises related to relationship with money, how money is utilized, and cash flow for both the household and the farm. Session two focuses on recordkeeping. Participants have an opportunity to learn about the Quicken software package while completing exercises on a computer. The last two sessions focus on financial statements, how to development the statements, where to find the numbers and how to evaluate your financial situation using financial ratios. Class exercises and homework were utilized as teaching tools. A guest speaker from one of the local lending institutions serves as part of the teaching team, providing information from the lender’s point of view. Three workshops were piloted this winter with 47 women participating, with one workshop still to come this summer. Evaluation results showed that women improved their knowledge of the balance sheet, increased their confidence level with financial matters and improved their ability to conduct a financial analysis of their operation.  

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Poster has NOT been presented at any previous NACAA AM/PIC

This poster is being submitted for judging. It will be displayed at the AM/PIC if not selected as a State winner. The abstract will be published in the proceedings.

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Authors: J.N. Woodruff, D. Herringshaw, C. Bruynis, B Clevenger, D. Mangione
  1. Woodruff, J. Extension Educator, Ohio State University Extension, Ohio, 44870
  2. Herringshaw, D. Extension Educator, Ohio State University, Ohio, 43402
  3. Bruynis, C. Extension Educator, Ohio State University, Ohio, 43351
  4. Clevenger, B. Extension Educator, Ohio State University, Ohio, 43512
  5. Mangione, D. Extension Educator, Ohio State University, Ohio, 45601