Presentation on theme: "Ag Biz 11 Year of Success Dennis Kauppila University of Vermont Extension Extension Risk Management Conference, KC MO, 4/05."— Presentation transcript:
Ag Biz 11 Year of Success Dennis Kauppila University of Vermont Extension Extension Risk Management Conference, KC MO, 4/05.
Ag Business Management Course 4 day course for farmers Farm financial risk Began 1994 UNH Ext joined in 1996 Sometimes 2 or 3/year, now just 1 in several locations 2 other UVM Ext folks, 2-3 UNH Ext.
Ag Biz history 6 different programs Quicken Cost of Production Finan, Finlrb ‘Essentials’ ‘Managing for Success’ 900 people from over 700 farms
Northeast Center for Risk Management Education Helped with funding courses for past 3 years Will help fund next year’s courses Helped to fund Mobile Computer Lab 12 laptops Projector Wireless hub and printer Others helped also, DHI, Yankee Farm Credit….
FSA Borrower Training Certification Each person who completes gets certified ‘Don’t ask- don’t tell’ We don’t know who needs it All can get it Early years, some were grumpy Usually able to learn something Other lenders encourage participation
This winter’s Quicken course Taught in 5 locations Each has 4 class meetings Used to be 4 Tuesdays in a row Now Tues and Fri for 2 weeks 10 am to 2:30pm Brown-bag lunch, before: hot meal Fee $100 Ranges from about $80- $175- meals
This winter’s Quicken course Average of 15 people Mandatory homework Encourage participation Many co-ops, lenders, ag oganiz’ns reimburse 50% upon completion Last couple of years, scholarships from Yankee Farm Credit In FSA, Extension, state office rooms
Participants One fee pays for 2 people/farm Really encourages 2 to attend, about 1/3 They can talk during the drive ‘Uninterrupted’ time, except cell phones Many combinations Father-daughter, daughter-in-law, son Mother-son, daughter Partners Husband-wife Mostly dairy, many other commodities Ages from 17-83
Agenda Every year we cover Balance Sheet Income Statement, Cash Flow Annual Budget Each participant leaves with Current Balance Sheet Budget for coming year Just what lenders require
This year’s Quicken plan Used Ohio State’s Bulletin 911, Computerized Farm Record Keeping with Quicken. Very good. About half Quicken, half other Computer lab, 1 machine/ farm Each participant leaves with a copy of Quicken to take home Floppy with QIF, some spreadsheets
This year’s Quicken agenda Day 1 Install Q on machines, Q intro Homework: install Q at home Day 2 Q: Categories, Data entry Balance Sheet, a bit of spreadsheets HW: Balance Sheet Day 3 Q: Data entry, reports Cash Flow, P+L, Crop Insurance HW: Cash Flow Day 4 Q: reconcile, budgets, weakness Budgeting
This Year’s Course Final Homework, mail it to us Show us you are using Q, or show us your budget, or how you’re using course Second time teaching Quicken Total 8 locations, 93 farms, 119 people Teaching Lead instructor, sometimes 2 nd instructor and at least one helper (peanut gallery)
Other Years ‘Essentials’ Communications, goals, Bal Sheet, P+L, Cash Flow, Budgets 2 hours working just w/Bal Sheet Lenders as speakers, lender panel 6 years, 20 locations 292 farms, 359 people
Other Years YearsLocationsFarmsPeople Finan619193243 Finlrb21094105 Cost of Production 121822 Managing for Success 133240
Final Thoughts 4 meetings works well Time enough to get on a few tangents Focus on homework for first half-hour Touch up the material each year We have learned a lot Big time investment, w/good returns Exported concept to Ireland on sabbatical leave in 1998