The Farm Analyst Program is an Educational Service to Facilitate Business Planning for Farm Families.
The K-State Research and Extension Farm Analyst Program has provided intensive one-on-one consultation and assistance to more than 1,000 Kansas farm families. Analysts are experienced farmers and ranchers with extensive training in business analysis. Their ag background provides a strong element of empathy with the families they assist. The Analyst travels to the farm home to work with the client privately and confidentially. The role of the 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.
Working with Creditors
If a debtor/creditor dispute arises, the typical farm manager’s goal is to restructure and keep operating. The work of the Analysts is to analyze: what went wrong; what will change; what restructuring options are feasible; and review annual results. Proven to be a valuable tool in working with banks and other lending institutions the FinPack™ program is designed to analyze the profitability and feasibility of the operation and any changes. Income and expenses and debt service information can be plugged into the program to analyze options that the producer or creditors may be considering.
K-State Farm Analysts can encourage families to realistically assess the current operation and enter in to discussions about goal setting, discovering options, and finding solutions based on facts.