Transcript Heart of the Farm - Green Fields (Financial Management 101)

Heart of the Farm
Green Fields
Financial Management 101
Challenge to…
nate Splett
Associate Dean, CAFES and
Professor, Dept of Ag Economics
UW-River Falls
Jenny Vanderlin, Assistant Director
Center for Dairy Profitability
UW-Madison/Extension
Heart of the Farm
Green Fields
 Purpose
…to extend financial management into the everyday
fabric of farm life for Wisconsin’s Heart of the Farm
Women.
…Because they asked for it.
 Funding Source
USDA – North Central Regional Risk Management
Education Center (NCRMEC), Agricultural Risk
Management Education Competitive Grants Program,
and the Center for Dairy Profitability
Heart of the Farm
Green Fields
 Audience
 Wisconsin women in agriculture. Largest
participation age 35-44, followed by 4554
 Structure
 Spin-off from Heart of the Farm-Women in
Agriculture One Day Conferences
 Started out as a one-day conference
 3-hour session
Heart of the Farm – Green Fields
Theme(s)
Financial
CORE
-Information
-Analysis
-Management
Fabric of Farm Life
 To study core
financial information,
financial analysis and
financial management

To incorporate farm
financial information into
the fabric of farm life
Heart of the Farm
Green Fields




Photo Album
Financial Statements
Scrapbook
Personal Journal
Food, Fiber
and Fuel
Financial
CORE
-Information
-Analysis
-Management
Fabric of Farm Life
Sustainability
 Have a
conversation about
energy and
sustainability, and
how to incorporate
them into financial
information
Heart of the Farm
Green Fields
 Agenda
 Introduction and Goals
 Academic Lecture: content and context
 Participation: exercise constructing financial
statements, and develop analysis of financial
position/performance
 Conversation: energy and sustainability
 Participation: puzzle solution to financial
statements, analysis of financial position/performance
Heart of the Farm
Green Fields – Evaluation
 3 hour session worked MUCH better
 Comments:
 “Enjoyed exploring farm history and
incorporating farm finances into the
“fabric of farm life.””
 “…good, casual, informal way of relating
financial information while teaching
them…”
Heart of the Farm
Green Fields - Spinoffs
 Annie’s Project
 Dairy
 Added Value/Direct Marketing (same format,
exercise modeled on vegetable operations)
 Hmong Community
Heart of the Farm
Green Fields
Financial Management 101
Challenge to…
nate Splett
Associate Dean, CAFES and
Professor, Dept of Ag Economics
UW-River Falls
715.425.3535
[email protected]
Jenny Vanderlin, Assistant Director
Center for Dairy Profitability
UW-Madison/Extension
608.263.7795
[email protected]