IFMAPS
Individual Business
Planning Assistance
IFMAPS is
A free, confidential service assisting
Oklahoma farmers and ranchers with
financial business planning since 1985
 Trained financial specialists work with
families one-on-one to develop financial
statements and evaluate alternative
plans

Who are the IFMAPS
specialists?
Extension area agricultural economics
specialists
 Specially trained part-time Extension
employees with business and farm
backgrounds (called financial diagnostic
specialists or FDSs)

How do you arrange IFMAPS
assistance?
Several alternatives:
 Contact the local Extension
office or
 Contact an area Agricultural
Economics specialist or
 Call the IFMAPS office in
Stillwater at 1-800-522-3755
IFMAPS process
Producer initiates contact with IFMAPS
 Case is assigned to local IFMAPS
specialist through Stillwater office
 IFMAPS specialist contacts producer to
discuss information needed
 Producer gathers and summarizes farm
records

IFMAPS process (continued)
IFMAPS specialist and producer
arrange a mutually convenient time to
meet
 IFMAPS specialist uses computer
software to summarize data gathered
into enterprise budgets and financial
statements

IFMAPS process (continued)

IFMAPS specialist reviews the financial
statements with the producer
• Confirms data is correct
• Discusses financial situation and expected
performance
• Helps develop alternatives to be analyzed,
if any

IFMAPS specialist generates financial
statements for alternative plans and
reviews them with the producer
Software
IFMAPS specialists use Integrated
Farm Financial Statements (IFFS)
software to complete plans for
producers
 IFFS is spreadsheet-based software for
Excel 97 or later

Software
Crop and
Livestock
Budgets
Additional
Information
Cash flow statement
Debt worksheet
Balance sheet
Income statement
Financial ratios
Stress test
Examples of analyses
completed




Can we purchase additional land (or
machinery and equipment) and make it
pay?
How can our operation earn enough
income to support a second generation?
How will the change in government
programs affect the farm’s financial
outlook?
Can we qualify for a Linked Deposit loan?
What do producers gain?



Improved understanding of
the farm’s financial position
and performance
Assistance in identifying
strategies to improve the
farm finances
Referrals to other educators
and agencies where
appropriate
Risk Management

Producers can reduce their risk through
• Sound financial business planning
• Reducing or eliminating enterprises that
have historically been negative
• Analyzing the feasibility of
diversification
Cost?


No cash cost to Oklahoma
producers
Funding comes primarily
from grants from the state
legislature through the
Oklahoma Department of
Agriculture
What farmers and ranchers say:



“…helps individuals look at their overall
program and see what pays and what does
not.”
“The information received was very important
in establishing future plans for my farm
operation.”
“I think it’s a tool all of us in production need
to use. It puts it on paper to see, what a lot of
us assume we know. I appreciate what you
are doing.”