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Heart of the Farm Green Fields Financial Management 101 Challenge to…

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

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Heart of the Farm Green Fields Financial Management 101 Challenge to…

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  1. Heart of the Farm Green Fields Financial Management 101Challenge 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

  2. 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

  3. Heart of the Farm Green Fields • Audience • Wisconsin women in agriculture. Largest participation age 35-44, followed by 45-54 • Structure • Spin-off from Heart of the Farm-Women in Agriculture One Day Conferences • Started out as a one-day conference • 3-hour session

  4. Heart of the Farm – Green FieldsTheme(s) Fabric of Farm Life • To study core financial information, financial analysis and financial management • Financial • CORE • Information • Analysis • Management • To incorporate farm financial information into the fabric of farm life

  5. Heart of the Farm Green Fields • Photo Album • Financial Statements • Scrapbook • Personal Journal

  6. Food, Fiber and Fuel Sustainability Fabric of Farm Life • Financial • CORE • Information • Analysis • Management • Have a conversation about energy and sustainability, and how to incorporate them into financial information

  7. 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

  8. 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…”

  9. Heart of the Farm Green Fields - Spinoffs • Annie’s Project • Dairy • Added Value/Direct Marketing (same format, exercise modeled on vegetable operations) • Hmong Community

  10. Heart of the Farm Green Fields Financial Management 101Challenge to… nate Splett Associate Dean, CAFES and Professor, Dept of Ag Economics UW-River Falls 715.425.3535 nate.s.splett@uwrf.edu Jenny Vanderlin, Assistant Director Center for Dairy Profitability UW-Madison/Extension 608.263.7795 jmvander@wisc.edu

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