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 Finan Finlrb Cost of Production Managing for Success

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