In a grassroots survey, farm families told Extension educators they needed help in financial record-keeping and management. To meet this need, the Management and Marketing Priority program was developed. With the help of Extension agents and area farm management specialists, these workshops are helping Tennessee farm families discover how to upgrade their financial record-keeping skills, thereby leading to improved decision making skills. Participants came from farms that averaged 502 acres and were operated by producers ranging in age from 28 to 86, with the average age being 50.2 years. The main point of the workshops, said Gerloff, is to show farm families how they can use their financial information to increase the profitability of the farm business.
Financial reports can show which farm enterprises are the most profitable.
For example, in the workshops farm families learn how to separate costs and income among several farm enterprises. This information is not available from records kept solely for income tax purposes. Farm families are notified about the workshops by Extension agents through personal contacts, mailing lists, and newsletters. Family members are encouraged to attend the workshops together. Ten computers are available for hands-on instruction.