JACKSONVILLE, Ill. — The 2019 crop year is setting up to be another year of tight margins. The last few years of low margins have caused deterioration in the financial position of many producers.
Farm Analysis Solution Tools (FAST) are a series of Microsoft Excel spreadsheets that assist users to make various farm business decisions. These tools offer guidance in the following areas: livestock management, financial analysis, investment analysis, loan analysis, farm management, grain marketing and management, and risk management.
Four one-day hands-on workshops will further participants’ understandings of Microsoft Excel applications and introduce FAST spreadsheets developed by agricultural economists at the University of Illinois. The workshop is designed to get users to take a look at potential return scenarios for 2019, perform financial analysis, and assemble cash flow statements using FAST Tools. Gary Schnitkey and Ryan Batts are the instructors.
The morning session focuses on tools for assembling crop budgets and cash flow statements as well as crop insurance and risk management options. The afternoon session will look at financial statements and ratio analysis.
Workshops are scheduled to be held in the following Extension offices: February 13 in Jacksonville, February 28 in Champaign, March 5 in Freeport, and March 7 in Breese. Cost for the workshop is $100 per person for those that don’t bring a laptop, or $70 for those who bring a laptop and have Excel and Microsoft Windows. Payment is due one week before the workshop to be attended.
For registration, visit the FAST tools section of the Farmdoc website at: www.farmdoc.illinois.edu/fasttools/ or contact Ryan Batts at batts@illinois.edu
–University of Illinois Extension