Oklahoma State University Cooperative Extension's Intensive Financial Management and Planning Support (IFMAPS) program is helping producers to make the most out of bad weather that has affected agricultural operations.
"Drought, followed by excessive fall rains, then a wintertime ice storm have made for some difficult times, especially for many producers who have traditionally relied on quality wheat pasture and stocker cattle as income sources," said Damona Doye, OSU Cooperative Extension farm management specialist.
Doye said it is important that producers possess strong financial management skills and be able to critically review their operations.
"IFMAPS' trained financial specialists can help producers develop and evaluate a comprehensive farm financial plan, as well as identify potential alternatives for spring-planted crops and debt restructuring or rescheduling," Doye said.
The services of IFMAPS financial specialists are available to Oklahoma farm and ranch families at no cost. To obtain IFMAPS assistance, producers should call the IFMAPS Coordination Center at 1-800-522-3755 or contact their local OSU Cooperative Extension county office, generally listed under "County Government" in local telephone directories.
"All personal information provided for review by IFMAPS specialists remains strictly confidential," Doye said. IFMAPS clients are asked to complete a data collection packet prior to meeting with an IFMAPS financial diagnostic specialist.
"We ask this because collection and analysis of information can be time consuming," Doye said. "The objective is to help producers develop a useful financial plan as quickly as possible. To accomplish this, we need appropriate, relevant background information on hand." IFMAPS specialists use computer software-Integrated Farm Financial Statements (IFFS)-to generate plans. The specialist then reviews the analysis with the farm family.