Minnesota/Wisconsin Engineering Notes

November 2001 Low Cost Parlors For Wisconsin and Minnesota Dairy Producers Siting Animal Production Operations Sizing Silage Piles New Agricultural and Alternative Energy Web Page Use Winter to Make Your Farm Safer Increasing pH by Low Level Aeration to Remove Soluble Phosphorus in Liquid Swine Manure Farmland Tile Drainage Design Workshop New Agricultural Drainage Publications Available Two New Farm Business Management Publications Available New University of Minnesota Department Head Resources Calendar

Two New Farm Business Management Publications Available Purchasing and Leasing Farm Equipment, NCR-615 After land costs, the cost of acquiring farm machinery services is the largest single production expense for many crop farms. The new publication Purchasing and Leasing Farm Equipment, NCR-615, explains the variety of choices that crop farmers face when determining how to obtain farm machinery services. The publication explains the typical plans that financial institutions and equipment manufacturers offer for financing the purchase of farm equipment. It also discusses rental and lease agreements, including explanations of lease terms, lease contracts, and the leasing process. One section discusses tax and financial considerations; another compares the advantages of purchasing and leasing and presents a plan for comparing financing plans. The final section of the 10-page brochure presents a detailed example comparing a lease contract and a loan/purchase agreement. The authors of Purchasing and Leasing Farm Equipment are Raymond Massey, University of Missouri; and William Edwards, Iowa State University. Purchasing and Leasing Farm Equipment, NCR-615, costs $4.00 per single copy plus shipping and handling, plus state sales tax. Acquiring and Managing Resources for the Farm Business, NCR-610D The new publication Acquiring and Managing Resources for the Farm Business, NCR-610D, is the fourth in a proposed six-part series written for, and dedicated to, farm operators and managers in the U.S. With its focus on the acquisition and management of resources, the publication addresses one of today’s most challenging aspects of farm management. The first two chapters of the book explain how to acquire farm real estate. Chapter 1 focuses on renting farmland and facilities. Issues discussed include selecting the type of lease arrangement, developing economically fair leases and sound written lease arrangements, and keeping appropriate records. Chapter 2 deals with the purchase of farm real estate, including the analysis of possible purchases and financing such purchases via a mortgage or contract for deed arrangement. Chapter 3 discusses management of the machinery system. Topics include developing machinery cost budgets; making individual machine and system-wide decisions; deciding how to acquire the use of machinery services; and keeping appropriate records. Chapters 4 and 5 discuss managing farm personnel. Chapter 4 covers planning and staffing issues. This includes determining staffing needs as well as recruiting and selecting new employees. Chapter 5 focuses on various aspects involved in managing a work force. This includes employer responsibilities in managing employees effectively as well as compliance with various laws and regulations. In addition to detailed discussions of the concepts and principles of acquiring and managing resources, the 90-page publication contains a series of worksheets designed to help farmers develop rental and sales agreements. It also contains assessment tools for personnel supervision along with employment application and interview forms. Tables, diagrams, and other illustrations help to clarify the book’s major topics. Ken Thomas, a retired extension specialist in farm management from the University of Minnesota, wrote Acquiring and Managing Resources for the Farm Business and the other five volumes in the series Business Management for Farmers. The series Business Management for Farmers should prove useful to farmers, educators, lenders, consultants, and others, including persons considering farming as a career. Like Part IV, Parts I, II, and III of the series deal with managing an established farm business. Part V will focus on the issue of getting established in farming, while Part VI will deal with planning the late career/retirement years. Acquiring and Managing Resources for the Farm Business, NCR-610D, costs $8.00 per single copy plus shipping and handling, plus state sales tax. Both publications are produced by MidWest Plan Service (MWPS) in cooperation with the North Central Farm Management Extension Committee (NCFMEC). Both MWPS and NCFMEC are cooperative outreach efforts supported by the 12 land-grant universities of the North Central United States. Click here for ordering information.

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