Towards Increased Profits (TIP) Report

Table of Contents

What is the Tip Report?
When are the Reports Mailed Out?
Why Did Farmers Receive It? / How Does a Farmer Participate?
Can a Farmer Still Request a Tip Report?
Who Can They Call if They Have Questions on the Tip Report?

What is the Tip Report?

The AgriStability program application contains much of the information required to do simplified cash basis farm management analysis. Therefore, Ontario Ministry of Agriculture, Food and Rural Affairs (OMAFRA) staff developed a template to incorporate the information submitted on the AgriStability application into a management analysis report - which is called the TIP Report - Towards Increased Profits.

The TIP reports compare the financial performance of the individual farmer to their previous 5 year average and to an industry benchmark based on their farm type and income range. These industry benchmarks are derived from the entire AgriStability database.

The TIP Report is funded through the Renewal Chapter of the Agricultural Policy Framework (APF), a Federal-Provincial-Territorial initiative.

When are Reports Mailed Out?

The mailing of the TIP reports is typically scheduled for January/February.

Why Did Farmers Receive It? / How Does a Farmer Participate?

To participate, farmers indicate "Yes" to the Towards Increased Profits (TIP) report question at the bottom of page 3 of their AgriStability application form.

Can a Farmer Still Request a Tip Report?

If they did not request a TIP report on their AgriStability application form, they can request a TIP report by calling the Agricultural Information Contact Centre (AICC) at 1-877-424-1300.

Who Can They Call if They Have Questions on the Tip Report?

After receiving their report, individuals may wish to have further clarification or interpretation. The first point of contact is the AICC at 1-877-424-1300. AICC staff will be able to provide TIP interpretation support. Technical questions can also be forwarded to John Molenhuis, Business Analysis and Cost of Production Program Lead with OMAFRA at 613-475-9472.

Individuals wishing to have a more complete farm management analysis will be advised by the AICC staff to contact their accountant or farm management professional.

Another program that can help producers identify, plan for and reach their business goals is the Growing Your Farm Profits workshop. The two-day workshop will give the tools needed to assess current farm management practices and understand how proactive planning can influence effective decision making. For specific dates and locations, please contact the Ontario Soil and Crop Improvement Association (OSCIA) by phone at 1-800-265-9751 or visit their website at www.ontariosoilcrop.org. Workshops are provided free of charge so register early as space is limited.