Farm Financial Management Workshop

National Risk Management Extension Education
Farm Financial Management Training Workshop
Farm Financial Management Summary

The National Farm Financial Management workshop was held in Omaha, Nebraska; June 2-4, 2009. The workshop was sponsored as a joint effort between the four Extension Risk Management Education Centers, the Digital Center for Risk Management Education and the Department of Agricultural Economics at the University of Nebraska.

The purpose of the workshop was to enhance the capacity of the national extension program to respond to the financial management needs of farm and ranch families. The charge is to help family’s assess their situation, identify their opportunities, and select the strategic plan that meets their goals. Participants were challenged to apply financial management concepts to help families in their state.

To view presentations from the workshop click on the individual link below. To view a video of the entire conference go to http://webvideo.unl.edu/13.

Tuesday, June 2

1:15-1:30 Workshop Goals and The Financial Risk Challenge in Agriculture

Doug Jose, University of Nebraska

1:30-2:30 Current Financial Conditions in Rural America

Ernie Goss, Creighton University, Omaha

2:30-2:45 The Perceived Need – the Results of a Survey

Kevin Klair, University of Minnesota

3:15-4:45 What Records Show & How to Use Them, Part 1 Casey and Kay O’Farmer Case Study

What Records Show & How to Use Them, Part 2

Dale Nordquist, University of Minnesota Duane Hund, Kansas State University

4:45-5:30 Farm Service Agency Loan Programs

Rich Barta, Farm Service Agency, Nebraska

Wednesday, June 3

8:00-9:30 Initiating the Financial Planning Discussion Listening Levels The Art of Asking the Right Question

Alan Baquet and Dave Goeller, University of Nebraska

9:45-11:00 Farm Family and Business Decision Making and Goal Setting

Jeff Tranel, Colorado State University

11:00-12:00 What We Learned from the 80’s and Implications for 2010 and Beyond?

                   Danny Klinefelter, Texas A&M University
                   Bill Davis, Farm Credit Services, Nebraska

1:00-2:00 Bankruptcy Alternatives           Liquidation Analysis Example

Joe Hawbaker, Hawbaker Law, Omaha

2:00-2:30 Legal Liabilities of Contracting

Erin Herbold, Iowa State University

2:30-3:15 Tax Implications of Asset Liquidation

Tina Barrett, Nebraska Farm Business, Inc

3:30-5:30 Demonstration of Financial Analysis Tools

1. FINPACK, Bob Craven, University of Minnesota

2. FAST Tools Corn Revenues and Costs, Gary Schnitkey, University of Illinois

3. Producer Risk Management, Alan Baquet, University of Nebraska

4. Ag Decision Maker, William Edwards, Iowa State University

Case Exercise, Mayer Farm 2009

Beginning Net Worth Statement

Cash Flow Budget