The Horse

MAR 2019

The Horse:Your Guide To Equine Health Care provides monthly equine health care information to horse owners, breeders, veterinarians, barn/farm managers, trainer/riding instructors, and others involved in the hands-on care of the horse.

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36 March 2019 The Horse | TheHorse.com budget and plan for them. Everything has a line item. There is good equine software out there with income and expense track- ers. This will allow you to run monthly and yearly reports to monitor expenses." Patricia Cosgrove is the founder of Mary Olson Farm, a historical working farm owned and operated by the City of Auburn, Washington. The 67-acre farm is dedicated to living history and environmental education. As such, it is home to two donkeys, a cow, six chickens, and a few barn cats. These animals greet 3,000 to 4,000 children per year as farm livestock ambassadors. In the 24 years she ran Mary Olson Farm, it was critical for Cosgrove to have a budget, so she knew how much money she would need to raise each year to keep that component of the farm sustainable. "I needed a budget so I could go to the city and propose a spending plan," she says. Cosgrove set up her farm budget by allocating a line item for each category (utilities are paid for elsewhere, there are no insurance or boarding fees and no tractor costs, and her budget did not have to accommodate the on-site caretaker's fees). Her simple annual budget looked something like this: $3,000 Hay and supplements $600 Farrier for donkeys $600 Veterinary services per year (deworming, vaccinations, wellness check) $800 Farm repairs (gate, fencing, etc.) $600 Continuing education for caretaker $5,600 Total per year Cosgrove didn't account for emergen- cies in her budget, because she could tap into the city's or other grantmakers' funds if one arose. However, as a horse owner, she says, "It would be wise to have (contributions toward the equivalent of) a couple of months of expenses as a line item in your budget as an emergency or rainy-day fund." Toni Bucciero is an equine body work practitioner and owner of Equine Body Balance, in Emmett, Idaho. Besides this business, she boards a few horses on her 12-acre horse property. Bucciero uses budgeting as a tool to determine the income she needs to earn each month to cover expenses and make a living. "It's easy to me to figure out (the costs of) my mortgage, health insurance, auto insurance, homeowners insurance, liabil- ity insurance, utility costs, estimated gas expenses … all the costs for me and my horses to live and work here," she says. "Then I figure out how much I want to make per year (as profit). I add that (to) the costs, and I use that amount to deter- mine that I can't make anything less than that (total) amount" to maintain her cur- rent lifestyle. "You can take that amount FARM & BARN MADE IN AmericA Tired of worrying about frozen water, dirty water, wasted water or no water at all? Install Classic Equine By Ritchie automatic waterers, built by the inventor of the category, and you install peace of mind. Isn't that what you're after? classicequinebyritchie.com Install Peace of Mind Boost Your Budget Get cost-cutting tips from the property owners featured in this article at TheHorse.com/166148.

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