KSU Farm Analyst Program
Contact Kansas Agricultural Mediation Services: 1-800-321-FARM
32409B E. Springcreek Rd.
Paxico, KS 66526
Phone: (785) 636-5462
HCR-3, Box 44-C
Lakin, KS 67860
Phone: (620) 355-7338
206 N. Griffith
El Dorado, KS 67042
3005 Clark Road
Grantville, KS 66429
118 S. 2nd St.
Penokee, KS 67659
The K-State Research and Extension· Farm Analyst Program:
The Farm Analyst Program has a long history of responding to farm families encountering a variety of challenges. The program's intensive one-on-one consultation, using farmers trained as K-State Research and Extension analysts, has provided assistance to more than 1,000 Kansas farm families. Analysts are active farmers and ranchers with extensive training in business analysis. Their farming experience provides a strong element of empathy to the families they assist. The role of a farm analyst is centered on the use of a computer software Program called FinPack™.
FinPack™ is a comprehensive financial planning and analysis system designed to help farmers and ranchers understand their financial situation and make informed decisions. It is not a record keeping system. Instead, FinPack™ provides tools to effectively use farm records to make business analysis, long-range planning, and cash-flow planning as complete, easy, and meaningful as possible. FinPack™ is an effective educational tool. It teaches financial concepts through their application on individual farms.
When Things Change Financially
If a debtor/creditor dispute arises, the typical farm manager's goal is to restructure and keep operating. It is not in the farmer's or the creditor's interest to resume operation without a clear analysis of: •What went wrong? •What will change? • Restructuring alternatives. • Reviewing annual results. A typical analysis involves formulation of a base plan, which outlines how the business is currently structured. When a consensus is developed with an accurate baseplan, alternative plans are formulated. These can range from restructuring debts to looking at alternative enterprises.
The major benefit provided by the farm analyst is in determining a producer's competitiveness, profitability, and efficiency. By using FinPack™ and researching a producer's abilities to use their resources effectively, opportunities arising from changing farm conditions can be advanced. In times of weather disasters or other circumstances, analysts provide objective and thoughtful ideas without the emotion of events entering into the process. Issues involving the process of transferring farms to the next generation and assisting with ideas for intergenerational business planning are additional benefits.
Researching New Opportunities
Successful farming families spend time "working the books" to learn more about their operations. The technical side of farming gets the crop planted and harvested. The business side buys the farm and saves for retirement. New ideas can be explored and thoroughly researched by K-State farm analysts.
Farm Family Teamwork
Kansas farm families are second to none. Hard work and tenacity go back for generations. As agriculture becomes increasingly competitive, families need time and a forum for communication and planning. K-State farm analysts strengthen family teams by facilitating discussions and goal setting. New technologies and management practices can be explored and consensus can be developed. Interdependence is fostered among families.
Access, Confidentiality, and Cost:
Kansans interested in learning more about the analyst program and services provided may contact analysts a number of ways. Contact your local county agent, your ag lender or the Kansas Ag Mediation Service at (800) 321-3276. Duane Hund, the analyst program coordinator may be reached at (785) 636-5462. E-mail: email@example.com. All information provided by producers is strictly confidential. Fees are reasonable and based upon ability to pay. No Kansas farm family will be denied assistance if they are unable to pay.