FarmBusiness

ManagementDave Marr

Riverland Community College

Farm Business Management   I.     Farm Business Management Programa.      Vision & Mission b.      Overview of Program & Topicsc.      History of FBM program II.     Close Out a.      Balance Sheetb.      FINAN III.    Cash Flowa.      Cash Flow & Monitoring  IV.   Analysis, Evaluation, Improvement Opportunitiesa.      Percentile RankEm, Report Card, Sweet 16 Score Cardb.      Southeastern Minnesota Annual Report V.      Tax Estimatesa.      Tax Planning & Income & Expense Alternatives VI.     Medical Flex Plan VII.    Property Tax Refund   VIII.  Business Planninga.      Family Vision, Goals, Dreams IX.     Market Planning X.     Computerized Record Keepinga.      PCMARS and other systems

 XI.   Other Areas of Need

Dave MarrSouthern Minnesota & Northern IowaFarm Business Management Instructor

My Personal Vision: 

To provide leadership and direction for the Farm Business Management education program that will allow producers to rely on a progressive, innovative program that will guide them in

the ever-changing area of production agriculture. 

My Personal Mission: 

To ensure that producers achieve the highest levels of operational and managerial efficiency, which will correspond to equally high levels of profitability for their farm business.

 Riverland’s Business Mgmt. Program Vision:

 The Riverland Business Management education programs have a passion to help students

envision and plan for the future, to define their goals and to learn from current, quality, sound information.

 Riverland’s Business Mgmt. Program Mission:

 The Riverland Business Management education program provides student focused education

to assist in meeting their family and farm business goals.

What is the Farm Business Management Program?     It is an opportunity to have regular contact with an individual who will assist you in developing management tools. These tools may be used to analyze the farming operation to make the farm more profitable.    As a member of this farm management group, you became a student of Riverland Community College and will receive a grade for each semester enrolled. Classes are mostly on a one-to-one basis, with a few group activities scheduled during the year. Who am I?     I grew up on a diversified farm near Riceville, Iowa. I graduated from South Dakota State University – Brooking, S.D. I taught High School Voc Agriculture two years and worked for Land O’ Lakes for 24 years.     Riverland Community College of Austin employs me. Serving Producers in Southern Minnesota and Northern Iowa. What will I do for you?     I will provide regular assistance with improving/evaluating your record keeping system. A computerized accounting system is encouraged and I will assist you with setting up your system and keeping it current throughout the year.     Appointments will be made on a regular basis, either on the farm or in the Farm Management office as requested by you, to discuss and evaluate monthly events.     We will work together to assemble Financial Statements, Cash Flows, Tax Estimations and Tax preparation information. I do not do the taxes, but assist in preparing the information for your tax accountant.     Discussion will be held concerning investments and retirement.     I will help you assemble financial documents requested by your lender.     I will provide a year-end Farm Analysis of all Enterprises on the farm.     Several classroom style meetings will be held each year to discuss relevant topics for your farming operation.     Livestock and crop production evaluation will take a priority to help improve your profit margin.     My job is to be a resource person for you to call and be able to discuss concerns and provide contacts with other farmers, etc. who may have the same concerns. Together we can work to find solutions to your concerns and make improved plans for the future. Farm Management Program: 10 Credits

Key components of the Farm Business Management Program 

Financial Management - Financial management skills can be learned and applied to you farming operation. The key is learning and understanding financial management techniques and tools.

Then using that knowledge and applying it to your farm on a daily basis as you make decisions. That’s where Farm Business Management can help!

 Enterprise Management - The program can effectively evaluate each enterprise of your farming operation. Your analysis will show the strengths and weaknesses of your business. Then you can make the proper management decisions. If you so desire, the instructor will work with specialists

who ca help you solve your production problem. 

Marketing Management - Keeping current with new marketing options and terminology, is a never-ending process. The Farm Business Management Program explains the various marketing

methods and helps you decide which marketing plan best fits your needs. 

Overall Business Management - Putting it all together into a sound business plan is where it all happens. Having your goals, skills, and knowledge all in line can help you work more efficiently

and effectively and ultimately make your farm more profitable. That in turn will help you and your family have a better quality of life.

 Farm Business Management Instructor

Riverland Community College 507-433-06181900 8th Avenue North West Mobil: 507-438-7076

Austin, MN 55912 dmarr@river.cc.mn.us

Features of the Riverland Farm Business Management Program         Assistance in farm record keeping        Farm account book training        Computerized farm accounting training         Annual farm account close-out         Annual farm business analysis        Individual farm and enterprise yearly analysis        Individual farm and enterprise trend analysis        Summary of Austin Farm Business Management enrollees        Summary of SE Minnesota Farm Business Management enrollees        Cash flow generation, assistance and follow-up        End of year tax estimation assistance        Goal setting for short and long term needs         Decision making on enterprise improvements for farm operation         Marketing discussion and assistance         Other special needs assistance around topics or areas you have questions

Ways we provide education and assistance 

Individual Instruction - The instructors work with each family to help find ways of solving individual problems. Quite often the instruction is on the farm with the

entire family participating. 

Classroom - Regularly scheduled classes provide instruction on subjects ranging from record keeping, budgeting, farm analysis, marketing to operating a

computer. One-time classes are also offered on specific topics of interest. Participants not only learn from the instructors but from each other.

 Newsletters - A monthly newsletter provides timely educational information,

notices of upcoming events and information from other students. It provides a way to learn at the comfort of your own desk.

 Telephone - Farmers enrolled have access to their instructor by telephone to

secure information regarding their farm business. 

Farm Tours - The program provides a variety of tours such as individual farm tours, tours to commercial sites, field days and research farms.

 

Benefits of Enrollment in the Farm Business Management Program 

        Scheduled farm visits with instructor 

        Assistance available on request 

        Personal commitment to improve the farming operation 

        Complete confidentiality in consultation with farming operation 

        Year round educational assistance available 

        Personal satisfaction in recognizing performance of the farming operation 

Individualized Instructional Topic Options 

Strongly suggestedFarm business analysis

Farm business analysis reviewCash flow plan

End of year tax estimate

 Other options

Crop and livestock marketing planMidyear records check

Computer training for record keeping and other usesAccount book procedures

Developing a business planGoal setting & Long Range PlanningManaging 105 tax code opportunities

Farm transfer planningPartnership planning and agreements

Retirement planning and Social Security issuesEstate planning

Business expansion or reduction planning and analysisBuilding and farmstead planning

Corn or soybean plot workNutrient management planning and fertilizer recommendations

Feedlot permitsVisit with your financial agency

Depreciation schedule review and updateTax form review

Farm safety auditsDairy farm review through dairy team program

Helping with other production issuesOther issues as asked by the farm operator

Farm Business Management education has been a part of agriculture education programs in Minnesota since 1952. From the early cooperative efforts of the State Department of Education and the Department of Agriculture Education (University of Minnesota), the program has expanded to serve over 6000 farm

families each year in six farm management areas. Programs are now administered and managed by the Minnesota State Colleges and Universities

System through the Technical and Community Colleges.  

The Farm Business Management Program is an educational program that is designed to “help farm families achieve their farm business and family goals”. This is done through improved management organization and efficiency of

their farm operations. This purpose has not changed over the years.