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- Update your monthly cashflow budget and compare your actuals with forecasts
- Reflect on the current season's budget and consider your cash position for year end. Will you have a surplus to re-invest or pay off debt?
- Prepare your annual cash and monthly cashflow budgets with your best predictions of payout, costs and production for the season
- Register for a DairyNZ Cashflow Budgeting Workshop in your area. Come along and develop a monthly cashflow budget for your farm for the next season.
- Discuss your budget with farm partners, your banker and accountant and get feedback from them
- Start planning your working capital (overdraft) requirements for next season - discuss these with your banker early so there are no surprises!
- Keep your accounts up to date and ready for your accountant if you have a March balance date
- If you have DairyBase, use it to identify areas for improvement and take action
- Discuss taxation planning with your accountant
- Review contracts (e.g. winter grazing)
- Spend time with your partner/business partners clarifying what your goals are for the next 5 years and how you will achieve them. Book in the babysitters and have a weekend away to combine leisure and planning time
- Register for the DairyNZ Mark and Measure courses or industry conferences.
