Newspaper Archive of
Hidalgo County Herald
Lordsburg, New Mexico
Lyft
September 26, 2014     Hidalgo County Herald
PAGE 3     (3 of 10 available)        PREVIOUS     NEXT      Full Size Image
 
PAGE 3     (3 of 10 available)        PREVIOUS     NEXT      Full Size Image
September 26, 2014
 

Newspaper Archive of Hidalgo County Herald produced by SmallTownPapers, Inc.
Website © 2019. All content copyrighted. Copyright Information.     Terms Of Use.     Request Content Removal.




HIDALG0 C0UNTY HERALD FRIDAY, SEPTEMBER 26, 2014 3 SBDC Cash flow statement and proper management By SBDC Staff Even a profitable business can go bankrupt if its cash flow isn't managed properly. Whether you're figuring out how to create a cash flow statement, how to improve your business's cash flow, or still learning what cash flow even is, this article is for you. Last week we looked at how to calculate cash flow. This week we will look at the actual cash flow statement and how to monitor it. How often should I review and revise my cash flow forecast? Forecasting cash flow is im- portant because it will allow a business to identify future prob- lems with cash. It will show them when they may expect a shortage and thus, allow them to make plans in advance to ensure this doesn't impact day-to-day busi- ness activities. If you're just getting started and cash is tight, it's a good idea to have a solid understanding of when you will need to make pay- Senior Citizens Lunch Menu Monday, September 29 Macaroni & Cheese Beans Salad/Dressing Dinner Roll/Margarine Banana Tuesday, September 30 Baked Chicken Spinach California Vegetables Biscuit/Margarine Peach Crisp Wednesday, October 1 Beef Tips .w/Noodles Salad Peas & Carrots Pears Oatmeal Cookie Thursday, October 2 Chicken Tacos Lettuce/Tomato Calabacitas Pinto Beans Bread Pudding Friday, October 3 Tuna Salad Sandwich Wild Rice Green Beans/Margarine Melon Lemon Pudding outs. In this scenario, consider forecasting your cash flow on a daily basis. Otherwise, most companies tend to forecast their cash flow on a weekly or monthly basis. How do I manage my cash flow? Now you need to learn to manage your cash flow. As we said above, good cash flow man- agement will help you succeed, while poor cash flow management could cripple your business. Regardless of whether you've been operating for a year or for five, there are always things you can do better. With that in mind, here are a few tips on monitoring your cash flow and on projecting and meet- ing cash flow needs. How to make monitoring your cash flow easy: Keep a daily record of in- coming and outgoing cash Deposit any checks received on a dally basis Use numbered cash receipts and account for all of them Use numbered checks for disbursements Send customer invoices within two days Collect receivables within two months To encourage those that owe you money to pay on a timely basis, consider offering discounts; taking deposits immediately as a sale is made, and performing credit checks on those that don't pay with cash. Likewise, when it's your turn to pay up, take full advantage of a creditor's payment terms. Don't pay for something 20 days before you should. Rather, be timely and set up an electronic transfer. Don't forget to take advantage of any discounts creditors offer you as well! However, be wary of mak- ing payments too early as it will make it hard to forecast cash flow and will make cash flow unpre- dictable. How to project your cash flow needs and then meet those needs: Anticipate payroll Preempt outstanding debt payments Set aside money for emer- gencies Set aside money to allow for growth DECLARATIONS OF CAND DA(:00f Ed Kerr I, Ed Kerr, hereby announce my candidacy for the office of Hidalgo County Commissioner, Position 1. Your continued support will be greatly appreciated. --Ed Kerr Warren Walter I, Warren Walter, hereby announce my candidacy for the office of Hidalgo County Sheriff. Your vote of support will be very much ap- preciated. --Warren Walter Carmen Acosta I, Carmen Acosta, hereby announce my candidacy for the office of Probate Judge. I have 35 years of service in county government. I have also earned a Certificate of Completion on Probate from NMSU. It would be an honor and privilege to serve as your Probate Judge. I respectfully request your consideration in the 2014 General Election. --Carmen Acosta Saturnino "Nino" Madero I, Saturnino "Nino Madero, Democratic candidate for the office of Hidalgo County Sheriff, respectfully ask for your support in the upcoming General Election in June 2014. Thank you. --Saturnino "Nino" Madero Mark Thomas I, Mark Thomas, would like to announce my candidacy for the position of Magistrate Judge. Your support will be greatly appreci- ated. -- Mark Thomas Darr Reynolds Shannon I, Darr Reynolds Shannon would like to announce my candidacy for Hidalgo County Commissioner. Thank you to all for the past support, and please know that I work for you...Hidalgo County. -- Darr Reynolds Shannon Marianne (Mimi) Stewart I, Marianne (Mimi) Stewart, hereby announce my Democratic candidacy for the office of Hidalgo County Commissioner, Position 1. Thank you for your support. -- Marianne (Mimi) Stewart Joseph "J.J.' Salinas I, Joseph "J.J." Salinas, would like to announce my Democratic candidacy for Hidalgo County Commissioner, Position 2. Your sup- port will be greatly appreciated. -- Joseph "J.J." Salinas Nick Varela Ruiz I, Nick Varela Ruiz, would like to announce my Independent Party candidacy for Hidalgo County Commissioner, Position 1. Your votes of support in the November General Election will be greatly appreciated. -- Nick Varela Ruiz Tom Bill Black I, Tom Bill Black, announce my candidacy for NM House of Representative District 32. I will go to Santa Fe and work very hard for the people of Hidalgo County, Your support will be greatly appre- ciated. Thank you -- Tom Bill Black Check our our great selection of Tires at competitive prices! Sara Saenz I, Sara Saenz, announce my candidacy for the office of Hidalgo County Probate Judge, Independant candidate. Your votes of support will be greatly appreciated. Paid by candidates -- Sara Saenz Use short-term financing when necessary Arrange for a line of credit with a bank before you are short on cash What to watch out for So that you're not surprised by the state of your finances, it's good to consider where your cash will go when you get started, and where most of it will go on a monthly basis. 1. Factor in your start-up costs Every business will have ini- tial start-up costs. Perhaps it's a lease on an office, or marketing expenses, or initial inventory pur- chases, or hiring the services of a contractor. While you may have to take this in stride for a year or two, you should also allocate an amount of cash to these early ex- penses. It's best to have this in mind before you start your busi- ness. 2. Keep an eye on inven- tory and receivables As with your initial start-up expenses, as you grow, so too will your need for inventory, and your receivables. If at all possible, set aside cash to finance these things. Or, keep a close watch on them. 3. Rapid growth can put you in a tight spot As you grow, you will likely need more cash on hand to fi- nance inventory, receivables, marketing expenses and other large acquisitions. This may re- sult in a negative cash flow, which, if not managed carefully over time, could eventually force you into bankruptcy. Many a rapid growing business has been unable to cope with growing de- mands and has had to close shop due to poor cash management. Be organized, but accept that you're human Occasionally, you may not be able to make a payment due to negative cash flow. Ideally, you will have predicted this in ad- vance, but if not, accept the fact that you really cannot predict the future and take preventative mea- sures. Banks are far more willing to lend to those people that know months in advance they may have a cash shortage. This makes you look financially responsible. Plus, if you don't end up having a shortage, you don't need to take up on the loan you were offered, it's just a nice safety net to have in place. Also, consider turning to your suppliers. Given that you've got an active working relation- ship with them, they will be the ones most invested in your suc- cess. They may be able to offer you a short-term loan. In general, keep an eye on your cash flow and make forecast- ing a habit. Any time you see ex- penses exceeding incoming cash, take this as a sign to be frugal. An archive of SBDC Busi- ness Reports can be found at http://www.grantcounty beat.com/index.php/archived- items Western New Mexico University's Small Business De- velopment Center offers assis- tance to entrepreneurs who are starting a business or wanting to expand an existing business. These services are available at no cost. Call 538-6320 for an ap- pointment with a business advi- sor, or email sbdc@wnmu.edu. The SBDC office is located in Watts Hall at 500 18th Street, at the intersection of Swan and Sil- ver Heights Blvd. An appoint- ment at your office is available by request. More information may be found at www.nmsbdc. corn/silvercity/index.html. Contact the SBDC office for more information about these events. October 7 - "How to Build Your Credit" October 8 - Advertising Your Business on Facebook" ancls L. blOC real degree, he had many years Elizabeth M. Cabral Elizabeth Minor Cabral, aka Betsy or Bettie, 83, born in Jack- sonville, Florida, passed away at her ranch in Redrock, NM on August 28 th, 2014. Betsy was a pas- sionate woman, who loved her ranch, dogs, horses, and her cattle. When brand- ing time came, she found much pleasure in all those who helped her, and in all the excitement that took place on the ranch at that time. We were all fortunate to have had the privilege of sharing in a part of her life. She requested that she not have a funeral or memorial ser- vice and we are honoring her with that request. She was a great lady, who loved life and its challenges, so remember her as you knew her and for what she meant to you personally. She will be missed by many. May she now rest in peace with those she loved and who went before her. Bright Funeral Home is in charge of arrangements, "Tra- ditional Services and Care for your family and friends," 210 W. College Ave., Silver City, NM 575-388-1911. To send condolences login to Bright Fu- neral Home I Silver City New Mexico funeral home Candidates # New Mexico Press Association Member Hidalgo County Herald (USPS I Elizabeth "Betsy" Cabral Francis Lamar Stock died September 20 in Nephi, Utah. Funeral services for Lamar, 88, will be held at 11 a.m. Satur- day, September 27, at the Animas LDS church. Viewing to be held at 10 a.m. Lamar was born July 4, 1926, in Tuc- son, Arizona to Francis and Flo- rence Stock. He grew up working on a farm and ranch southeast of Tucson where he learned a strong work ethic from his father. At 17 years of age, Lamar enlisted in the Marines during WWlI where he served for 6 years. During this time, he met his true love, Loretta Walker from Kirtland, New Mexico. After a year and a half courtship they were mar- ried in the Mesa, Arizona Temple, May 18, 1948. Lamar continued his military service by re-enlisting in the Air Force and then the Air National Guard sta- tioned in Tucson, Arizona for another 16 years. While serv- ing his country Lamar received training to become a master mechanic and obtained the rank of Tech Sargent. Lamar and Loretta moved to Animas, New Mexico in 1965 where he became a mechanic for the local farmers and ranchers. During his lifetime, Lamar served in various callings in the LDS church and remained a faithful member. Hobbies included flying (commercial license), model airplanes, ham radio, gardening, and electronics. At age 60, Lamar enrolled in college. A1- Francis L. Stock of usable practical experience from the school of "Good Old Yankee Knowledge." Lamar and Loretta relo- cated to Nephi, Utah in Sep- tember, 2014 to live with their daughter, Shari. Con- tinuing health complications required his recent hospi- talization where he passed away quietly, surrounded by loved ones. Survivors include his wife, Loretta of Nephi, Utah, sisters Bessie (Howard) Jones of Las Cruces, New Mexico and Marilyn (Reece) McNeil of Mesa, Arizona; children, Stewart (Emily) of Albuquer- que, NM, Shari (David) Grider of Nephi, UT, George (Barbara) of Katy, TX, Beverly (Jack) of Little Elm, TX, Joleene (Pat) of Woodlands, TX, Jim (Martha) of Odessa, TX, Paul (Regina) of Artesia, NM, Deirdre (Terry) of Midland, TX; 26 grandchildren; and 43 great-grandchildren. He con- sidered his bonus grandchildren and great-grandchildren as an added blessing. He was preceded in death by his parents, three sisters, one brother and one daughter. You may express condo- lences at www.westlawnchapel mortuary.corn Services entrusted to Westlawn Chapel, Mortuary and Crematory of Willcox, Ari- zona. invited toforum Sept. 26 Courtesy submission All candidates who will be on the November ballot have been invited by the Sew What Club of Portal/Rodeo to present their views to voters at a public forum on Friday, September 26 beginning at 6:00 Arizona time in the Portal Rescue classroom. Each candidate will have five minutes to tell why they should be elected. They will an- swer questions asked by the au- dience. Many former participants say they had much better turn- outs at this event than at larger communities. Refreshments will be served. For more information, call Bar- bara Miller at (520) 558-2414) or Deborah Arbinder at (520)558- 0980. GET CASH for your GOLD! Gold jewelry, scrap, broken pieces, dental, any condition, 8K-I8K 575-639-2484 COTTAqE HOUSE 214 [. MOTE[ Drive - illi 020697) is published weekly by Hidalgo County Herald in the City of Lordsburg, County of Hidalgo, 212 E. Motel Drive, Suite B, Lordsburg, New Mexico 88045-1948, 52 issues a year. Subscription rates vary. Subscription rate is $40 per year by USPS mail, $25 per year by email. Requests for correc- tions and complaints concerning news and editorial content of the Hidalgo County Herald should be directed to the editor. For further information on the Hidalgo County Herald's approved grievance policies, readers may contact the publisher. Any unsolicited manu- scripts become the property of the Hidalgo County Herald and will not be returned. All information contained herein is copyrighted 2014 by the Hidalgo County Herald. All photos/stories, unless stated, are wntten by our staff. POSTMASTER: Send address changes to Hidalgo County Herald, 212 E. Motel Drive, Suite B, Lordsburg, NM 88045- 1948. Periodicals Postage Paid at Lordsburg, New Mexico. PUBLIsHER/EDITOR: Brenda Hood ADVERTISING MANAGER: Glenda Greene PHONE: 575-542-8705 FAX: 575-542-8838 E-MAIL hcherald@aznex.net DEALS! 2012 Ford Explorer Loaded, Certified Pre-Owned Retail $32,350 ONLY $29,995 2011 Ford Fusion Loaded, Certified Pre.Owned Retail $18,16,5 ONLY $15,995 2000 Buick Century Super Clean )01 Ford F-150 4x4 Need Service? We offer FMI We offer great deals on tires, employees special and Discounts on oil changes pricing on new and and brake repairs, used vehicles/ WEI00 Igh,lr ,. Wl CCl00 Im/Pt II any written deal to keep your business in Hidalgo Countyl SMITH 542-3551 FORD 412 E. Motel Drive, Lordsburg, NM Come in and take a look at our full line of new Fords. If we don't have it we can get it. Freeport Employees: Ask about our Special Pricing on New Fords