1. Owatonna Farm Business Management Program Overview Pauline Van Nurden, FBM Instructor
Manage for Success!

2. What is the Farm Business Management Program?
Farm Management is the process of making decisions which:
Affect the operation of your farm, especially financial management.
Help achieve your family goals
Help achieve business goals
The Program is designed to give the farm family better tools to make more informed decisions that affect the business and family goals.

3. My Personal Commitment to Students:
Regular Contact and Additional Assistance (upon request) for the total FBM program.
These are student-centered discussions, timely to your operational situation.
Helping improve the financial management of your farming operation, with accounting procedure assistance & accurate financial statements.
Timely Farm Management Educational updates throughout the calendar year.
Personal Operational Gain from the Annual Whole Farm and Individual Enterprise Analysis’ to improve your farming position.
Complete confidentiality in the Farm Business Management Program.

4. What Value Can the Owatonna FBM Program Bring to Students?
Straight-forward, accurate operation records
Accomplished by providing students with record keeping and financial accounting assistance by utilizing computerized records
Timely lender Updates
Complete and accurate financial statements for use in your business and with your lender. Including: Operational Cashflows, Balance Sheets, and Production Budgets
Recognize Cost of Production & Enterprise Profitability
A Business Analysis & Individual Enterprise Analysis’ are completed on your operation. This information is then used to better understand the bottom line of your operation.

5. What Value Can the Owatonna FBM Program Bring to Students?
Demonstration of Superior Financial Management
Compiling a production year cashflow and budget for the farm enterprise. These will be reviewed and updated as needed throughout the year.
Attain Business & Family Goals
Develop yearly farm business goals & tie these to family goals. Also, business planning and estate transfer will be explored when students are interested.
Practice of Advanced Business Decision Making
Business expansion, alternative production, and other business feasibility options will be explored as the student’s operation evolves. The student will lead this feasibility research.

6. What Value Can the Owatonna FBM Program Bring to Students?
Awareness of Business Strengths & Weaknesses
Personal farm operation performance will be benchmarked against regional and statewide enterprise performance.
Enhanced Marketing Decisions
A business marketing plan will be discussed & developed with each student to assist in making more profitable marketing decisions. Continued marketing seminars will be held.
Maximizing Investments While Minimizing Taxes
Tax planning will be considered in November and December of each year to assist students in maintaining a more constant income level from year to year.

7. What Value Can the Owatonna FBM Program Bring to Students?
Enhance Worker Productivity & Satisfaction
Students will help develop standard operating processes for their business. Hired labor procedures and legalities will be explored if applicable.
Unbiased Input from Someone Who Knows Your Farm
If given the opportunity, I will serve as an independent advisor in your business. I will provide students with timely, relevant information for their farm. Lastly, I will help identify potential problem areas by providing an “extra pair of eyes”.
Develop Comfort with Technology and Computers
Technological assistance will be provided that is timely to your record keeping, computer needs, & other operation areas.

8. What responsibility does the student have in the process?
Keep accurate farm records
Provide information for year end analysis
Be available for on-farm instructional visits.
Be prepared for visits.
Willingness to work with the instructor to enhance management skills.

9. What other benefits to students gain from the FBM program
What other benefits to students gain from the FBM program? (Taken from the 2000 FBM Program Evaluations Study, U of MN)
Views of the operation from a third party are beneficial
One-on-One Approach
63% of the students value the program with an increase of $5000 or more of net income per year
78% of the students have been in the program for 6 or more years, with 45% intending to remain in the program for 10 or more years
From the average MN farmer had a net income of $18,310. The average FBM student had a net income during the same period of $37,590

10. Farm Business Management Program Logistics
Enrolled persons are students at Riverland Community College.
Students are enrolled for 10 credits per year. Tuition is based on the current college credit rate. For the academic year this equates to $129/credit or $1,290 per year.
Financial aid is available to those who qualify.

11. Student/Instructor Communication Network:
Owatonna Office:
Roosevelt Community School Building
122 E. McKinley St.
Owatonna, MN
Telephone: (507)
Fax: (507)
Cell: (507)