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Ontario Farm Management Analysis Project (OFMAP)
BackgroundThe Purpose of Ontario Farm Management Analysis Project (OFMAP) is to provide management information to farmers. With financial and production reports you are better able to identify profitability, strengths and weaknesses and efficiency of your farm business. OFMAP gives you the opportunity to compare your farms financial results with budgeted plans for the year and previous years. With continuous participation you are able to compare year over year trends relative to other Ontario farms. The OFMAP program files are computer spreadsheet based workbooks with versions tailored to each major farm commodity group. Each workbook contains comparative information based upon averages of farms received by the project. Comparative data is updated when available. Each program will produce accrual statements. The program has built in calculations to show financial strength, efficiency, and profitability. Enterprise reports show costs and returns per unit of production. How to ParticipateEntering Your Farm DataTo obtain a copy of Publication 116, The Farm and Enterprise Analysis Input Workbook. This workbook can be completed and sent to OMAFRA processing. Comparative financial reports will be returned to the producer free of charge. Program BenefitsFarm Report: Using the menus in Excel, you can produce an comparative accrual based report for your business. Benchmark averages are built into each spreadsheet. From the report, you can determine the performance of your farm relative to other Ontario farms. Progress Report: This is comparative report spanning 5 year period. The report uses 8 different graphs to show trends in farm income, investment and production relative to Ontario benchmark information. Send or email your completed worksheet file to the OFMAP office to enable your data to added to the Ontario Benchmark Averages. In return, OMAFRA will provide you with a 5 year Progress report for your farm. Individual farm data is needed to create and maintain benchmark averages. OMAFRA appreciates your participation.
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