1. 1 Risk Management and Financial Management Training Modules with FAST Tools

2. 2 FAST Tools farmdocfarmdoc companion project initiated in 1999 Development of 48 spreadsheet-based tools to aid decisions for producers, lenders, consultants and investors Facilitate use, access, distribution of tools and resources through CD and internet distribution –Quarterly subscription –farmdoc –farmdoc download (www.farmdoc.uiuc.edu/fasttools/ –via workshops Approximately, 35,000 CDs produced Increased demand for education and training

3. 3 Current Resources and Activities 40 laptop computer lab FAST educator / coordinator CD duplication 50+ meetings in Illinois / integrated FAST last 2 years Teaching modules for each program –Case studies and examples Outside of educator, operate at “full” cost recovery Prairie Farmer monthly column Theme & Focus Theme & Focus Teach Decision Making Integrate and utilize FAST Not just computer training

4. 4 Past Educational Efforts 3 Dimensions Content/ Meeting Type Intended Audience Host(s)

5. 5 Hosts “Getting the right people at the table” Typical Extension Channels Farm Business Farm Management Assn. Farm Bureau Farm Credit System Commercial Banks Banking organizations Growmark Crop Insurance Organizations

6. 6 Audiences Targeted and General Farmers –General and women via Annie’s project Lenders Farm Service Agency University and Junior College Students Educators (train the trainer programs) –College and Jr College instructors –Vo-Ag Teachers –Extension Educators –State record fieldstaff (Iowa, KY, Illinois and Alabama)

7. 7 Observations from past Innovative and high revenue producers Computers skills have expanded substantially Economic skills of participants have been very high Handling meeting logistics (meals, registrations, etc) are usually the most time consuming

8. 8 DAY 1: Exploring Risk Management and Marketing Strategies Using FAST 9:30 am – 12:00 pm –Updates to crop insurance –Crop insurance tools 1:00 pm – 4:00 pm –Crop rotation decisions –Exploring grain delivery alternatives –Grain marketing tools –Grain inventory management

9. 9 Demo of DAY 1 teaching modules Gary Schnitkey

10. 10 DAY 2: Improving Your Financial Management Using FAST 9:30 am – 12:00 pm –Preparing financial statements –Assessing your performance: How do you compare? How do you improve? –Farm investment decision-making: Grain storage, farmland, machinery 1:00 pm – 4:00 pm –Farm investment decision-making: Grain storage, farmland, machinery –Proforma financial planning

11. 11 Demo of DAY 2 teaching modules Paul Ellinger

12. 12 Tentative Plans for 2007/2008 Summer “Train the Trainer” targeted towards extension professionals in other states Campus lender program –Customized lender tools –Database capabilities –Expanded balance sheet and financial management programs Larger focus towards host-sponsored programs –Lenders –FBFM –Growmark –Farm Bureau Out-of-state training and assistance to other state extension personnel