Farm
Business
Management
Dave Marr
Riverland Community College
Farm Business Management
I.
a.
b.
c.
Farm Business Management Program
Vision & Mission
Overview of Program & Topics
History of FBM program
II.
a.
b.
Close Out
Balance Sheet
FINAN
III.
a.
Cash Flow
Cash Flow & Monitoring
IV. Analysis, Evaluation, Improvement Opportunities
a.
Percentile RankEm, Report Card, Sweet 16 Score Card
b.
Southeastern Minnesota Annual Report
V.
a.
Tax Estimates
Tax Planning & Income & Expense Alternatives
VI.
Medical Flex Plan
VII.
Property Tax Refund
VIII. Business Planning
a.
Family Vision, Goals, Dreams
IX.
X.
a.
Market Planning
Computerized Record Keeping
PCMARS and other systems
XI. Other Areas of Need
Dave Marr
Southern Minnesota & Northern Iowa
Farm Business Management Instructor
My Personal Vision:
To provide leadership and direction for the Farm Business Management education program
that will allow producers to rely on a progressive, innovative program that will guide them
in the ever-changing area of production agriculture.
My Personal Mission:
To ensure that producers achieve the highest levels of operational and managerial efficiency,
which will correspond to equally high levels of profitability for their farm business.
Riverland’s Business Mgmt. Program Vision:
The Riverland Business Management education programs have a passion to help students
envision and plan for the future, to define their goals and to learn from current, quality,
sound information.
Riverland’s Business Mgmt. Program Mission:
The Riverland Business Management education program provides student focused education
to assist in meeting their family and farm business goals.
What is the Farm Business Management Program?
x It is an opportunity to have regular contact with an individual who will assist you in developing management tools.
These tools may be used to analyze the farming operation to make the farm more profitable.
x As a member of this farm management group, you became a student of Riverland Community College and will
receive a grade for each semester enrolled. Classes are mostly on a one-to-one basis, with a few group activities
scheduled during the year.
Who am I?
x I grew up on a diversified farm near Riceville, Iowa. I graduated from South Dakota State University – Brooking,
S.D. I taught High School Voc Agriculture two years and worked for Land O’ Lakes for 24 years.
x Riverland Community College of Austin employs me. Serving Producers in Southern Minnesota and Northern
Iowa.
What will I do for you?
x I will provide regular assistance with improving/evaluating your record keeping system. A computerized
accounting system is encouraged and I will assist you with setting up your system and keeping it current throughout the
year.
x Appointments will be made on a regular basis, either on the farm or in the Farm Management office as requested by
you, to discuss and evaluate monthly events.
x We will work together to assemble Financial Statements, Cash Flows, Tax Estimations and Tax preparation
information. I do not do the taxes, but assist in preparing the information for your tax accountant.
x Discussion will be held concerning investments and retirement.
x I will help you assemble financial documents requested by your lender.
x I will provide a year-end Farm Analysis of all Enterprises on the farm.
x Several classroom style meetings will be held each year to discuss relevant topics for your farming operation.
x Livestock and crop production evaluation will take a priority to help improve your profit margin.
x My job is to be a resource person for you to call and be able to discuss concerns and provide contacts with other
farmers, etc. who may have the same concerns. Together we can work to find solutions to your concerns and make
improved plans for the future.
Farm Management Program: 10 Credits
Key components of the Farm Business Management Program
Financial Management - Financial management skills can be learned and applied to you
farming operation. The key is learning and understanding financial management techniques and
tools. Then using that knowledge and applying it to your farm on a daily basis as you make
decisions. That’s where Farm Business Management can help!
Enterprise Management - The program can effectively evaluate each enterprise of your farming
operation. Your analysis will show the strengths and weaknesses of your business. Then you can
make the proper management decisions. If you so desire, the instructor will work with specialists
who ca help you solve your production problem.
Marketing Management - Keeping current with new marketing options and terminology, is a
never-ending process. The Farm Business Management Program explains the various marketing
methods and helps you decide which marketing plan best fits your needs.
Overall Business Management - Putting it all together into a sound business plan is where it all
happens. Having your goals, skills, and knowledge all in line can help you work more efficiently
and effectively and ultimately make your farm more profitable. That in turn will help you and
your family have a better quality of life.
Farm Business Management Instructor
Riverland Community College
1900 8th Avenue North West
Austin, MN 55912
507-433-0618
Mobil: 507-438-7076
dmarr@river.cc.mn.us
Features of the Riverland Farm Business Management Program
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Assistance in farm record keeping
Farm account book training
Computerized farm accounting training

Annual farm account close-out
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Annual farm business analysis
Individual farm and enterprise yearly analysis
Individual farm and enterprise trend analysis
Summary of Austin Farm Business Management enrollees
Summary of SE Minnesota Farm Business Management enrollees
Cash flow generation, assistance and follow-up
End of year tax estimation assistance
Goal setting for short and long term needs

Decision making on enterprise improvements for farm operation

Marketing discussion and assistance

Other special needs assistance around topics or areas you have questions
Ways we provide education and assistance
Individual Instruction - The instructors work with each family to help find ways
of solving individual problems. Quite often the instruction is on the farm with the
entire family participating.
Classroom - Regularly scheduled classes provide instruction on subjects ranging
from record keeping, budgeting, farm analysis, marketing to operating a computer.
One-time classes are also offered on specific topics of interest. Participants not
only learn from the instructors but from each other.
Newsletters - A monthly newsletter provides timely educational information,
notices of upcoming events and information from other students. It provides a way
to learn at the comfort of your own desk.
Telephone - Farmers enrolled have access to their instructor by telephone to
secure information regarding their farm business.
Farm Tours - The program provides a variety of tours such as individual farm
tours, tours to commercial sites, field days and research farms.
Benefits of Enrollment in the Farm Business Management Program
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Scheduled farm visits with instructor
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Personal commitment to improve the farming operation
Complete confidentiality in consultation with farming operation
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Assistance available on request
Year round educational assistance available
Personal satisfaction in recognizing performance of the farming operation
Individualized Instructional Topic Options
Strongly suggested
Farm business analysis
Farm business analysis review
Cash flow plan
End of year tax estimate
Other options
Crop and livestock marketing plan
Midyear records check
Computer training for record keeping and other uses
Account book procedures
Developing a business plan
Goal setting & Long Range Planning
Managing 105 tax code opportunities
Farm transfer planning
Partnership planning and agreements
Retirement planning and Social Security issues
Estate planning
Business expansion or reduction planning and analysis
Building and farmstead planning
Corn or soybean plot work
Nutrient management planning and fertilizer recommendations
Feedlot permits
Visit with your financial agency
Depreciation schedule review and update
Tax form review
Farm safety audits
Dairy farm review through dairy team program
Helping with other production issues
Farm Business Management education has been a part of agriculture education
programs in Minnesota since 1952. From the early cooperative efforts of the
State Department of Education and the Department of Agriculture Education
(University of Minnesota), the program has expanded to serve over 6000 farm
families each year in six farm management areas. Programs are now
administered and managed by the Minnesota State Colleges and Universities
System through the Technical and Community Colleges.
The Farm Business Management Program is an educational program that is
designed to “help farm families achieve their farm business and family goals”.
This is done through improved management organization and efficiency of
their farm operations. This purpose has not changed over the years.