Heart of the Farm Green Fields Financial Management 101 Challenge to… nate Splett Associate Dean, CAFES and Professor, Dept of Ag Economics UW-River Falls.

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Presentation transcript:

Heart of the Farm Green Fields Financial Management 101 Challenge to… nate Splett Associate Dean, CAFES and Professor, Dept of Ag Economics UW-River Falls Jenny Vanderlin, Assistant Director Center for Dairy Profitability UW-Madison/Extension

 Purpose …to extend financial management into the everyday fabric of farm life for Wisconsin’s Heart of the Farm Women. …Because they asked for it.  Funding Source USDA – North Central Regional Risk Management Education Center (NCRMEC), Agricultural Risk Management Education Competitive Grants Program, and the Center for Dairy Profitability Heart of the Farm Green Fields

 Audience Wisconsin women in agriculture. Largest participation age 35-44, followed by  Structure Spin-off from Heart of the Farm-Women in Agriculture One Day Conferences Started out as a one-day conference 3-hour session Heart of the Farm Green Fields

Fabric of Farm Life Financial CORE -Information -Analysis -Management Heart of the Farm – Green Fields Theme(s) To study core financial information, financial analysis and financial management To incorporate farm financial information into the fabric of farm life

 Photo Album  Financial Statements  Scrapbook  Personal Journal Heart of the Farm Green Fields

Food, Fiber and Fuel Sustainability Fabric of Farm Life Financial CORE -Information -Analysis -Management Have a conversation about energy and sustainability, and how to incorporate them into financial information

 Agenda Introduction and Goals Academic Lecture: content and context Participation: exercise constructing financial statements, and develop analysis of financial position/performance Conversation: energy and sustainability Participation: puzzle solution to financial statements, analysis of financial position/performance Heart of the Farm Green Fields

 3 hour session worked MUCH better  Comments: “Enjoyed exploring farm history and incorporating farm finances into the “fabric of farm life.”” “…good, casual, informal way of relating financial information while teaching them…” Heart of the Farm Green Fields – Evaluation

 Annie’s Project Dairy Added Value/Direct Marketing (same format, exercise modeled on vegetable operations)  Hmong Community Heart of the Farm Green Fields - Spinoffs

Heart of the Farm Green Fields Financial Management 101 Challenge to… nate Splett Associate Dean, CAFES and Professor, Dept of Ag Economics UW-River Falls Jenny Vanderlin, Assistant Director Center for Dairy Profitability UW-Madison/Extension