We heard lots of good presentations at our meeting in Bloomington. Here’s a list of some of the Powerpoint presentations from that meeting.
Kent Meister, a field staff member of Pioneer FBFM in Bloomington, IL., was elected to serve as the president of the Farm Financial Standards Council when the group held its annual meeting and conference. He succeeds Kathy Rancour, accounting manager for Christiansen Land and Cattle Company, based in Kimball, SD, who will now serve as immediate past-president on the organization’s Executive Committee.
Prior to assuming the top leadership position with the Council, Meister had served as the group’s vice president and secretary/treasurer.
Elected to new vice president status is Jim Kelm, principle at Kelm Consulting, Red Wing, MN. Kelm had previously served as the organization’s secretary/treasurer. He will succeed Meister at the group’s meeting in Bloomington, MN in 2013.
Elected to serve as secretary/treasurer is Barbara Wheeling, Associate Dean of Business at Emporia State University, Emporia, KS. She has previously served on the Council’s Board of Directors.
Newly elected to the organization’s board of directors is Paul Neiffer, a partner with CliftonLarsonAllen in Yakima, WA.
Board members elected to continue terms are: Alan Miller, NAFBAS, West Lafayette, IN; Phyllis Parks, Daughhetee & Parks Management Consulting, Danville, IL; Jeff Bushey, Nietzke & Faupel, PC., Pigeon, MI; Everett Chambers, Kalmika Consulting, Tomah, WI; Todd Doehring, Centrec Consulting, Savoy, IL; Dr. Paul Gorman, ElCel Solutions, Inc., North Mankato, MN; Scotty Elston, AgTexas Farm Credit System, Lubbock, TX; Daryl Pohlman, AgriSolutions, Brighton, IL; and, Tom Murphy, T. Murphy Associates, Western, NE.
The Farm Financial Standards Council is a non-profit organization consisting of professionals representing producer groups, banking, the Farm Credit System, accounting, insurance companies, academics and others involved with agricultural production and finance.
Iowa State University Extension has good information on how farmers can deal with corn that’s badly damaged by drought.
Extension Economist William Edwards says it’s important to have damaged acres viewed by an adjustor and released by the insurance company before harvesting takes place. Edwards also points to another resource: an article titled Alternatives for Drought-damaged Corn — Grain Crop or Forage.
Bill Murphy, administrator of the USDA Risk Management Agency, tells Brownfield Ag News that his agency has plenty of money on hand to handle the massive drought losses this year.
“Probably the most surprising to me is some of these soybean fields that got in early,” said Murphy. “From the road, they’re about thigh-high, dark green, and you’re thinking, man, that’s got to have a great crop in it. And you get up close and look at it and it’s three or four pods and it’s starting to shed pods. So it’s just incredible. I don’t think I’ve ever seen damage…the breadth that we’re seeing this year; it’s really something.”
You can listen to the full interview with Murphy here.
Every year, the Illinois Society of Professional Farm Managers and Rural Appraisers puts together a comprehensive report on farmland values in that state. Their 2012 report is out, and available for download. You can read more about it here.
The 2012 Conference is scheduled for July 31 through August 2 in Bloomington, Illinois. This conference is approved for 6.0 Illinois Public Accounting Continuing Education Credits.
This presentation gives a good overview of the work done by the Farm Financial Standards Council.
This handy “cheat sheet” shows you how to calculate key ratios to measure your farm’s health.
The FFSC meets annually to provide a forum on the application of the financial and management accounting standards and issues relevant to Agriculture. Producers, educators, consultants, accountants, government representatives and banking professionals participate in the program of our summer symposium, both as presenters and observers. The annual session also provides an excellent environment for networking with others that are involved in Ag Management. CPE credits are available for those attending.
Our 2012 meeting will be held July 31 through August 2 at Parke Hotel and Conference Center in Bloomington, Illinois.
Meeting Highlights (PDF 8 MB)
Hot Tax Topics for Producers (PowerPoint)
Paul Neiffer, CPA
Larson Allen, LLP
Peer Advisory Groups and Continuous Management Improvement (PowerPoint)
Texas AgriLife Extension and Texas A&M University
Successful Farming: Ag Megatrends (PowerPoint)
FFSC President’s Report (PowerPoint)