The Pennsylvania Center for Dairy Excellence is offering $1,500 “Cash Projection and Business Budgeting” grant to assist dairy producers struggling to manage cash flow in a cash-negative milk sales environment. The 40 grants are being made available as an initiative of the Pennsylvania Dairy Task Force’s Business Management Committee through a federal grant.
“As many producers struggle with negative cash flow during this economic downturn, we know having professional help to assist with cash flow management can lead to improved margins for the dairy,” says John Frey, executive director of the Center for Dairy Excellence. “These grants are intended to encourage more of Pennsylvania’s dairy producers to seek professional expertise for help with thorough cash flow management strategies to navigate their way through the next six months.”
Any Pennsylvania dairy farm that is not currently doing comprehensive cash projection and business budgeting can apply to receive the grants. Available on a first-come, first-served basis, pending approval, the funds must be used to employ professional services to do comprehensive cash flow projections, production costs analysis, dairy business budgeting, and business restructuring. All applications must be submitted by May 1, 2009, and invoices must be paid and submitted for reimbursement to the center by Aug. 1, 2009.
“The only additional requirement for receiving the grant is that the applicant agrees to participate in a two-hour training course about business management resources available to Pennsylvania dairy producers,” Frey says. “This course, which will be offered in a conference-call setting, will expose the producers to available resources, including the center’s Dairy Profit Team Program, Penn State Dairy Alliance’s PA Dairy Tool, and support offered through the Center for Farm Transitions and PAgrows.”