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3. 2023 Extension Risk Management Education National Conference

The Ag Budget Calculator - An Online Enterprise Budgeting Program with Built-In Analysis Features

Glennis McClure

Summary

This poster presentation will provide an opportunity for educators to learn about the features provided in the University of Nebraska online Agricultural Budget Calculator (ABC) program. Hands-on workshops and virtual sessions continue where producers (program users) learn how to create or download enterprise budgets to modify to match their operations. Users can create their own budgets starting from scratch too.
Once base budgets are prepared, users can utilize program features for further analysis and decision making, including break-even, crop comparison, crop insurance analysis, and now a cash flow needs report is available that can be converted into a projected monthly cash flow report.
Now with over 800 user accounts established to date and over 1,600 enterprise budgets created using the system, the availability of the ABC program to assist producers, bankers, and farm managers with figuring enterprise cost of production is catching on in Nebraska.
An established farmer commented after learning more in a workshop on the ABC program, “Using the ABC program can give us more confidence in the way we are figuring our cost of
production and return on investment numbers. We intend to use the ABC tool to project how varying input costs, bushels, and grain prices impact profitability. The goal is to know our numbers well and use them to make better marketing and capital investment decisions as our operation grows."

Details

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