Dairy farmers throughout New York State submit business records for summarization and analysis through Cornell Cooperative Extension's Farm Business Management Program. Averages from a compilation of the individual farm reports are published in six regional summaries and in one statewide summary. Accrual procedures have been used to provide the most accurate accounting of farm receipts and farm expenses for measuring farm profits. An explanation of these procedures is found on pages 4-6. Three measures of farm profits are calculated on pages 7 and 8. The balance sheet, statement of owner equity, and cash flow statement are featured on pages 9-16. The dairy program analysis includes data on the costs of producing milk (pages 19 and 20). This Eastern New York Dairy Farm Renter Business Summary is an average of 28 businesses that are renting substantially all of the farm real estate. The farm income, financial summary, and business analysis sections of this report include comparisons with average data on 147 owned dairy farms in the region. This report is prepared in workbook fonn for farm renters to use in the systematic study of their farm business operations. Business records for 28 farms in Columbia, Cortland, Delaware, Essex, Lewis, Madison, Oneida, Orange, Rensselaer, Schoharie, Sullivan, and Washington Counties are summarized in this publication. The Eastern New York region consists of these counties plus Albany, Chenango, Dutchess, Fulton, Greene, Herkimer, Montgomery, Otsego, Saratoga, Schenectady, and Ulster Counties which do not have dairy farm business summary participants that classify as renters (see Figure I on page 2). The 147 owned dairy farms summarized in this publication include farms from the entire region. The Eastern New York Renter Summary for 1995 contained an average for 31 farms. On average, the 28 farms in 1996 are smaller than the 31 farms in 1995.