Times-Advocate, 1982-12-15, Page 23(FARMATIO
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REBUILDING CLANDEBOYE BARN — Construction of a new dairy barn on the Clandeboye area farm of Art
and Vic Hodgins is well underway. The original barn was destroyed by fire on September 6.
Reason is 'business survived'
Farmers should take inventory
How often have you seen a
sign up in a local business,
"Taking inventory"?
Businessmen take stock at
the end of their business year.
Farmers are businessmen
but they often do not take an
inventory.
The reasons for this failure
to take inventory are
numerous and may are per-
sonal. Two main reasons
`? should be recited. Farmers
historically have operated a
small business. They did not
need sophiscated records and
inventories, being able to re-
tain the information in their
heads. Times have changed,
the farm business is larger
and memories seem shorter.
Because of the former un-
sophiscated style of opera-
tion, the Income Tax
Authorities permitted.
farmers to prepare business
statements on the "cash
basis' without considering in-
ventories. With tax being the
main motive for record keep-
ing, inventories were not
required.
However, a new motive for
record keeping .has arrived
called "business survival".
The banker is demanding •
much better statements than
what the taxstatement 'can
provide. The basis for im-
proved statements is a good
,record keeping system and a
farm inventory: Hopefully
you now have a good record
keeping system for tax filing.
However, chances are great
that you do not have good in-
ventory records.
When should you take stock
on a farm? Like any other
business it should be at year's
end. For 90 percent of
farmers this will be
December 31st. However, '
some farm business year
ends occur in another month.
of the year.
While inventory should be
taken as of December 31, ou
Huron farm and home news
PIan 4-11 eonservc,tlon clu
Are you interested in spen- Wash them away
ding time in the Great Out- Don't let the warm.
doors, getting to know and' memories of Christmas din -
understand Nature better? ner:be spoiled by permanent
Are you between the ages of food stains.
During the festive season,
furnishings and clothes are
prime targets for cranberry
sauce, wine, gravy, candle
wax and alcoholic beverages.
Here are some hints for the
removal of these particular
stains. -
Cranberry sauce and wine
can be grouped together as
fruit stains. Sponge or soak
the stain immediately with
cold water - don't let it dry. If
the fabric is washable, soak in
an aet ivated enzyme product.
then launder in the hottest
12 and 19 as of January 1,
1983? .
I4the answerto these ques-
tions is "yes", then you will
want to join the "Huron 4-H
Winter Conservation Club."
The Organizational
meeting will be held at the
Agricultural Office Board
Room, Clinton, at 2:00 p.m.,
on Wednesday, December 29.
If you have any questions
about this club, please contact
one of the following leaders:
Bob Hern, 11111, Woodham
229-6300; Ray Hanna, RR2,
Auburn 526-7251 and Dave water possible for that fabric.
McClure, RRI Crediterh Bleach, if necessary.
228-6219. Candle wax should be
Circle December 29 on your scraped off fabrics with a dull
calendar today. knife. Soakthe stained area in
cleaning fluid then wash as
usual. If a wax color remains,
sponge with equal parts of
rubbing alcohol and water. -
Pre -soak gravy stains in an
activated enzyme product.
Pre -treat with a grease sol-
vent, then launder. '
Ddn't let alcoholic beverage
stains dry before. trying to
remove them. Sponge or soak
stained fabrics immediately
in cold water. Wash in warm
suds. If stain remains, soak
for a half hour in a solution of
two' tablespoons hydrogen
peroxide in one gallon water.
Stains can ruin beautiful
furnishings and fabrics. Im-
mediate attention and proper
treatment can prevent per-
manent staining and restore
items' for use on 'many
Christmas days to come.
For more information, ask
for our booklet on "How to
Remove Stains", publication
244. It's available from your
local county office of the On -
Central Huron 1-11
Snowmobile ('lub
Snowmobile owners - now is
the time for you to brush up
on snowmobile safety and
learn routine snowmobile
maintenance. Learning will
be mixed with pleasure,aas
plans are being made to go to
the Skidoo Snowmobile Plant
in Quebec.
This club will get underway
. at the Organizational Meeting
on December 29 at 8:00 p.m.
at. the Brucefield United
Church. All young people bet-
ween 14 and 19 as of January.
' 1, 1983 are welcome to attend.
For more information,
please be sure to contact the
club leaders: Allan Haugh,
RR 1 Brucefield 527-0138; Bob
Wilson, RR 1 Brucefield
,:462-9831. Details fdr ' more
Winter 4-H Clubs will be
released shortly.
Don Pullen
Agricultural Representative
for Huron County .
McCann Redi-Mix Inc.
DASHWOOD, ONTARIO
ALL TYPES'OF CONCRETE WORK
REDI-MIX CONCRETE
& FORMWORK
PRECAST PRODUCTS DEALER Phone Office
237-3647
MANGERS STEPS
SLATS CURBS
Lloyd 236-4819
tario Ministry of Agriculture ticipant will be able to apply
and Food. again in 1983. A successful ap-
4-H Homemaking will be plication would mean an ad -
starting up in January. It's ditional 12 months of
."Ontario's Heritage" and -it assistance. Those vdho-are not
sounds great... lots of fun..: registered in the 1982 pro --
lots of -learning..-. lots of ' gram, will only be eligible for
. eating. Who invented peanut the 12 months of 'assistance
butter? Who started the tradi- that are provided by the 1983
lion of the Sunday roast 'ofro ram.
beef? Did McDonald's make . p g
Please contact the
the first hamburger? Who . O.M.A.F. office, Clinton or
came up with the idea of your banker for further
barbecuing. information. -
This project is about the Educational Programs
development of our traditidns • You will be receiving a
concerning -food. Over a folder in your mail box outlin-
period of two hundred years ing 1983 educational pro -
more than sixty nationalities grams and services for farm
have cometo settle. in Oh -families in Huron County.
tario. Many are involved in -Many of the winter courses
the food chain as bakers, are a co-operative effort with
farmers, food manufacturers Centralia College, the Clinton
and restauranteurs. As a O.M.A.F. officte and the'
result we have an extremely Canada Employment and Im-
wide selection of foods migration Commission.
available for dining "in" or More details about
dining "out". • workshops are available from
At each meeting' a' Centralia .College or our of -
multicultural meal will be fice. You may register by
prepared with such favorites calling O.M.A.F., Clinton
as Scotch eggs, Italian sand- 482-3428 or Zenith 7-3040, or
wiches and Dutch peach Centralia College 228-6691.
• kuchen. More recent addi- Don Pullen
tions to restaurant menus Agricultural Representative
such as Jamaican meat pat-
ties and peanut punch are.- ""
sure to become favorites:
Workshops for 4-H leaders
will be starting the latter part
of January. 4-H is available to
anyone ages 12 to 26. Let me
know if you'd .like more
information.
Jan Muegge
Home Economist' .
Phone 482-3428. or
Zenith 7-3040
Farmstead Improvement.
Earlier in the year over•969
Huron farmers .filed intent
forms indicating that .they
were planning to Complete
work under the Farmstead.
Improvement Program.
December 31, 1982 is the last
day to submitcompleted ap-
plication . forms for grants
under this program.
We have been clearly
notified that there will be no
extensions of• this deadline_.
Interest Assistance
December 31 is the deadline
:for applying under the 1982 In-
terest Assistance Program.
Althouth Dennis Timbrell.
Minister of Agriculture has
recently announced that there
Will be a 1983 program, it may
be important to apply even at
this late date.
The 1982 program runs 12
months from the date of ap-
proval: Therefore. a 1982oar-
We'II give you Case
0
A.P.R.
financing for up to 42 months on purchase of
one of our eligible used farm tractors of
any make.
OR...You can choose our used tractor waiver -of -
finance -charges option and pay no finance
charges until June 1,1983. -
OR... buy a new Case tractor
and you can take your choice of 8.8% A.P.R.
financing for up to 48 months ... or pay no
finance charges until November 1,1983 under our
new tractor waiver -of -finance -charges option.
All offers valid December 1 thru December 31,1982.
Purchase must be financed through J I Case Credd Corporation.
FARM SUPPLY LIMITED
Sales and Service - Repair
RR 3 Zurich, Ont.
Phone 236-4934 236-4321
am
CERTIFIED
SERVICE
MS
may be inclined not to do it in
the holiday • season. If you
must delay, let's make it
January 3,.the first Monday of
the new year, to keep it ac-
curafe..Inventory items in-
clude livestock, crops, sup-
plies, accounts receivable and
accounts payable. ,Other
assets like land, buildings and
• equipment are considered
capital items and .total lists
should already be on file. The
banker normally requests
that inventory values reflect
a modest market value. In-
flated values may fool the
farm operator more than the
banker:
Back to the banker and his
demands for information. He
needs a Balance Sheet or New
Worth Statement' to deter
mine the owner's share of
ownership or equity in the
farm business. Unless you
record inventory items, you
balance sheet will be in-
complete. While lenders have
made loans on equity, equity
does not do much for
repayment. -
The Income Statement is
important for repayment.
The Income Statement for tax
purposes, when properly
prepared, is done in an effort
to minimize tax in any one
year. However, this does not
reflect business profits or
repayment potential. Again,
the inveotory information is
needed to convert to an Ac-
crual Income Statement:
When comparing the yearend
• with the beginning, increases
in inventories and accounts
receivable add 'Co business
profits. Decreases in inven-
tories and increases in ac-
counts payable reduce
business profits.
The banker will also re-
quest forward. looking
budgets and cash flows to
compare the future with the
past. But we must start -
somewhere and that start is
taking inventory • at year's
end. Then you and/or -your ac-
countant have some basic in •
-
formation to start to htiild the
financial statement to please
your banker. As a bonus, you
have ,better statements to
° Please turn to page 14 A
BUTLER
Frank Thuss Farm Systems
SALES & SERVICE
EXETER, ONTARIO
Daytime 235-0492 Evenings 294-6152
Hv-TY
READY MIX LTD.
Ready Mix Concrete
Complete concrete forming,
concrete driveways &
concrete finishing
Exeter
235-0833
Forest and Clinton
WINS UCO DRAW — Paul Pavkeje,: RR 1, Centralia wos.the winner of $500 worth
of agri-tools in the United Co-operatives of Ontario draw held at the 1982 Interna-
tional Plowing Match. Making the presentation are UCO area sales supervisor Dove
Dawson and Ilderton Co-op store supervisor John Ayranto. T -A photo '
Says lobbying paid off
The Ontario Federa
Agriculture's (OFA)
tent lobbying has pai
OFA president Ralph Barrie
said, following the federa-
tion's 47th annual convention.
He was referring to an-
nouncements made during
the convention by Ontario's
minister of agriculture and
food, Dennis Timbrell.
At the banquet during the
convention, 'timbrell an-
nounced that the Ontario
Farm Adjustment Assistance
Program (OFAAP) would be'
extended another year. and
that changes would be made
to the farm tax system.
"The OFA has been press-
ing for both of these for some
time now," Barrie said, "and
I'm really pleased that mann
tion of "Many farmers are going . Buchner,a dairy farmer from
persis- to benefit from the new 100 Oxford; Merle Gunby, a
d off," percent rebate on farm land Huron pork producer; Brigid
Pyke• a Frontenac County
dairy. farmer; . and Harry
Pelissero, an egg 6roducer
from Nigeria.
of our requests have been
met".
The OFAAP offers various
kinds of financial assistance
to farmers. including interest
deferral, interest rebates and
loan guarantees. "This pro-
gram will provide some help
in the short-term, but with •
many commodity prices fall-
ing, the farmers' cash flow
problems may - unfortunate-
ly.- be more serious in 1983.
That's why OFA is going to
continue encouraging the pro-
vincial and federal govern-
ments to -reach some kind of
agreement on a three -party
stabilization plan," Barrie
said. ` '
The stabilization plan was
discussed with federal
agriculture minister, Eugene
Whelan, at the convention. He
expressed .the hope that the
two levels of government
would reach agreement in the
early part of 1983.
Barrie said the provincial
government's proposal for
changes in the farm tax
system is a real indication of
OFA's influence. Treasurer
Frank Miller had decided to
shelve the changes, but after
OFA held meetings and talks
with government officials,
Canln l Uetrua.0 •v bu
with the proposals.
and buildings" Barrie said. At
present, farmers receive a 50
percent rebate on farm land,
buildings and residences.
Under the new proposal,
which will take effect in 1984,
'a 100 percent rebate will be
given on farm land and
buildings. Farm residences
will be assessed separately,
and at a rate similar to other
residences in the area.
To qualify for rebate, the
farm must have a minimum
production of $8,000 in 1982
and in 1983: In 1984. the
minimumproduction for
rebate will rise to $12,000 in
southern Ontario but remain
at $8,000 in eastern and nor-
thern Ontario. Farms that do
not meet the minimum pro-
duction criteria Tor tax rebate
will. however, continue le be
assessed according to produc-
tivity values. A retired
farmer or the widowed spouse
of an active farmer who
chooses to reside on the farm
• .will be eligible'for the rebate
for a reasonable period. if the
farm qualified for the rebate
prior to retirement or death of
the farmer. .
-We wanted the minimum
to remain at $5.000," Barrie
said. "and the government
wanted to jump immediately
to S12.000. 1 could see the
gradual increase as an accep-
table compromise in good.
times. but with prices so
depressed, I'm afraid many
farmers will be ineligible."
Barrie, a dairy farmer
from Perth, in Lanark Coun-
ty, was elected for his fourth
term as president. For the
fourth year, the first vice-
president is Ron White. also a
dairy farmer. from Denfield
( Middlesex). The new second
vice-president is Mary Wicks,
a dairy . farmer from Bob-
caygeon(Victoria ). She is the
first woman to be elected to
nnpf the top three positions.
he other executive
memberk are Keith
ailO - flu
Vaher
C/ an(/ 1
hee�e -uJe
Fresh from the Oven
vreellieraimmearkwal
Dinner & Crusty Rolls \
Deluxe Fruit Cake
Mincemeat Pies
Shortbread Cookies
Cherry and Fruit Rolls
Fancy Donuts
Specials
This Weekend
December 15 Page 7A
BUY NOW
and SAVE
n a JOHN DEERE
Snow Blower
Interest FREE
till March 1, 1983
•
•
- ''-j
Save time, effort, and
money this winter with
a new heavy-duty John
Deere Snow Blower.
Drop into our place and
take a good look at the
John Deere 8 H.P. that
cuts a 26" path. This 2
stage design blower is
efficient. The John
Deere 826 Snow Blower
hos features that come
as standard equipment
which are not even
available on other
makes.
French, Rye. (light or dark) or 100% Whole
Wheat.. Unsliced
Breads . 2/$ 1.49
1.................................,
g Finest Quality Cheeses
g Medium Cheddar Cheese
g $2.99 Ib. a
I Jensen's Naturally Aged 3 years a
g Extra Old Cheddar
$3.99 Ib.
U Cheese Gift Baskets Cheese Trays
Candy & Nut Troys
We have over 60 varieties of
! Canadian and Imported Cheeses 2
fresh off the block!
Qua Crut Rue run WOtun this Outs pidAii TIOROragUif r.1
t - Iu
443 Main St., Exeter 235-0332
Zurich, 236-4912
Seaforth 527-1803
JOHN OEER�
TOYS
From Pedal Driven riding
tractors to Titan combines,
John Deere action toys
ore designed to make kids
Floppy. They keep parents
hot. r too with their
long -tasting durability.
And: you'll_ never have to
buy batteries as John
Deere toys don't need
them. Choose toys from
our form end lawn and
gor.den Tines. All are
authentic scale -models of
the real machines.
Free gift wrapping
available at our store.
Keep batteries
powered up
with a John Deere
Charger
You can keep batteries
at peak charge or boost,
start engines with a John
Deere Charger Choose
from four models Ail
have a safety thermal
cutoff switch. heavy
gauge stet case. color-.
coded terminal grips,
easy -to -read ammeter,
and detailed operating .
instructions on the case
Alt John. Deere :Chargers •
are UL and CSA
approved-,
Beat Winter's
Icy Blasts...
with
WARM
WORK WEAR
HIGH-
PRESSURE
WASHER
Clean up quick with
this compact new
washer. It's right for
dozens of tough jobs
around _the home ..
500-550 psi of nozzle
pressure make short
work cf normally
tedious jobs. r
See Us For a Full Selection of .
* Lined Coveralls
*
Vests * Parkas * Shirts
* Pants * Socks * Gloves
* Winter Footwear
Put warmth
where you
want it
with a
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Exeter 235-2081