South Dakota Center for Farm/Ranch Management, Certificate
The South Dakota Center for Farm/Ranch Management (SDCFRM) is an individualized program where participants are able to work one-on-one with MTI Farm Business Management instructors. Instruction primarily takes place on-site at the participant’s farm or ranch as well as occasional web-based or classroom sessions. Participants are trained in all aspects of financial management and recordkeeping as related to their ag operation. These skills are put into practice by the participants keeping their own business records, with the assistance of their instructor. At the end of each year, this data is compiled and analyzed by the instructor so each producer can review and use their data for planning and decision making purposes. Participants are also able to compare their data to state averages which are compiled by SDCFRM for the purpose of benchmarking. All records are kept strictly confidential.
Benefits to the participant of the program include: complete records of past years to review when making management decisions; records needed for filing yearly tax reports; development of a record management system for use with lenders; an increased knowledge of the strengths and weaknesses of their operation; the ability to determine the business’s exact financial progress in any one year; an ability to project profitability of individual enterprises; and development of a working understanding of cash flow, net worth and profit & loss statements. Each semester, students will enroll in a four-credit course which covers the recordkeeping component as well as relevant current industry topics. This program consists of six semesters of instruction.
SDCFRM is also a certified provider of the FSA Farmer Borrower Training program. This is a 20-hour on-campus or online course focusing on ag financial and risk management principals. FBM 100 – Financial Foundations meets the requirements for new FSA borrowers and is open to any producer who would like to take as an introduction to the program.
To enroll in this program, contact the South Dakota Center for Farm/Ranch management at (605) 995-7191, sdcfrm@mitchelltech.edu or visit www.sdcfrm.com.
Award: Certificate
Basic Program
First Semester
| FBM 111 | Fundamentals of Farm Business Mgmt. | 4 |
Second Semester
| FBM 121 | System Mmgmt Data and Farm Analysis | 4 |
Third Semester
| FBM 131 | Managing and Modify Farm Syst Data | 4 |
Fourth Semester
| FBM 141 | Interpreting and Eval Finan Data | 4 |
Fifth Semester
| FBM 151 | Integrating Info for Financial Plan | 4 |
Sixth Semester
| FBM 161 | Exam of the Context Sys Management | 4 |
Students who successfully complete a certificate in the Basic Program are eligible to enroll in FBM 211 Special Topics, an individualized course designed to assist the client in developing and evaluating a strategic plan for their farm or ranch business. This program is offered through the Advanced Technical Education division. Instructor approval required.