AgriStability and end-of-year inventory count

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For producers participating in the AgriStability program, counting inventory at tax year-end (December 31 for most producers) is an important task. Accuracy with year-end inventory lends itself to accuracy for the whole application.

“Rather than trusting such an important task to memory, it’s important for participants to take an hour or two as close to their year-end as possible,” says Kaye Ford, senior analyst risk management division with Agriculture Financial Services Corporation (AFSC). “Producer participants need to count and record year-end inventory and store the information in a safe place so that it is readily available when it is time to complete the forms.”

Typically, the earlier the forms are filed, the more accurate the inventory information is and the sooner the claim can be processed. Completing the AgriStability Supplementary Forms is often one of the first items producers want to strike off their new year’s to-do list.

“Information is available to help producers complete their forms,” says Ford. “The information is located on the AFSC website at www.afsc.ca, under the Risk Management tab, click on AgriStability and then on the 2011 AgriStability Supplementary Forms Guide. Instructions and tips are located throughout the online guide to assist producers.”

Producers who require additional help with forms can contact AFSC’s AgriStability staff located around the province available to answer questions and review forms. Contact the AFSC call centre at 1-877-899-AFSC (2372) or visit the website to locate the offices where the AgriStability field analysts are located.

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