Financial

     Foundations

An Agricultural Business Management Educational Program

The SDSU CES Economics Extension makes available educational programming on agricultural business management of which one component is the "FSA Farmer Borrower Training Course." Program participants are informed by the FSA (USDA Farm Service Agency) of the need to complete borrower training. Once informed, participants select their vendor of choice for the Borrower Training course.

SDSU CES Economics Extension is an approved vendor for the "FSA Farmer Borrower Training Course" and has been providing this training opportunity ever since legislation mandated that borrowers complete such a course of instruction. Course content is directed by the same legislation that mandated borrower training for FSA borrowers. The cost per operation is $250.00. All participants in the SDSU CES Economics Extension FSA Farmer Borrower Training Course receive educational materials at no additional charge. In addition and as per participants' request, individual sessions may be scheduled with one the SDSU CES Economics Extension Area Farm Management Specialists. These individual sessions utilize the FINPACK financial planning and analysis software system to develop site-specific financial plans. Individualized sessions provide the opportunity for program participants to utilize their classroom instruction in developing financial analyses and financial plans for their specific operations and situations.

Specific units of instruction include:

Business Planning
 
1) Strategic Planning
  2) Goal Identification
  3) Risk Management
Financial Management Series
  1)  Selecting and implementing a record system
  2)  Income Statement
  3)  Balance sheet
  4)  Cash flow budget
  5)  Statement of cash flows
  6)  Analyzing financial performance
  7)  FINPACK [Optional aspect, time variable]

Participants who complete the course are provided a letter of completion for their records. In addition, the FSA state office is notified and so is the producer's local FSA office. FSA, as required of all vendors for the Borrower Training education, is provided information on the instructor’s perception of how well the student has gained an understanding of the concepts presented and has the ability to apply those concepts to their own businesses.


EVENTS:
DATE LOCATION TIME OTHER INFORMATION
 
       
       
       

Area Contacts for information regarding Financial Foundations Workshops:
Jack Davis
Jack.Davis@sdstate.edu
Woonsocket (605) 796-4841
Burton Pflueger
Burton.Pflueger@sdstate.edu
Brookings (605) 688-4141

For additional Farm Management/Marketing information, visit the Department of Economics website at:
http://econ.sdstate.edu/
South Dakota State University
Cooperative Extension Service
Department of Economics
E-mail/ questions/comments

Click to visit the South  Dakota Extension Service website.