Ag Biz11 Year of Success

Dennis KauppilaUniversity of Vermont ExtensionExtension Risk Management Conference, KC MO, 4/05. <dennis.kauppila@uvm.edu>

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 2nd 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

Years Locations

Farms People

Finan 6 19 193 243

Finlrb 2 10 94 105

Cost of Production

1 2 18 22

Managing for Success

1 3 32 40

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