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The initial year of the analysis corresponding to the year the input information has been provided. (Ex. 1997 would indicate that 1997 data was entered on the input sheets and is the first year of the analysis) (Back)
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| 2. |
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Total Acres of: (Back) |
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| a. |
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Cropland including tillable land, land in roads, irrigation ditches, etc. |
| b. |
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Pastureland including improved, unimproved , CRP and woodlands. |
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| 3. |
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Cropland Acres: (Back) |
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| a. |
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Acres of cropland owned by the business entity. |
| b. |
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Acres of cropland leased by the business entity including cash and share leased or any combination. |
| c. |
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Total owned and leased non-tilled land such as roads, homestead, etc. |
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| 4. |
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Pastureland Acres: (Back) |
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| a. |
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Acres of pastureland owned by the business entity. |
| b. |
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Acres of pastureland leased including cash and share/gain leases. |
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| 5. |
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Beginning cash balance in business checking account as of January 1st of the initial year of the analysis. (Back)
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| 6. |
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Beginning Assets - includes all personal and business assets that are not listed on the machinery list. Note: exclude personal assets if only the farm business is intended to be analyzed. Do not include checking account/short term savings. This will be counted in cash on hand. (Back)
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Description - short description of asset such as bank account type, house, land, etc.
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Beginning market value - market value of asset or balance of the account January 1st of the first year of the analysis.
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Cost basis - remaining basis on purchased assets as of January 1st of year 1.
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Asset type - whether the asset is real estate (RE), a regular investment (RI) in which annual gains are taxable, a tax deferred (TD) investment or a tax exempt (TE) investment.
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Growth category - what best describes the growth of the asset over time:
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real estate (RE) |
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low risk savings account type (LR) |
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higher risk investments such as mutual funds and stocks (HR) |
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Growth rate - expected or actual growth rate for the investment during the first year of the analysis
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Annual contribution - the fixed annual contribution (dollar amount per year) that will be added to the asset.
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Annual dividend - the fixed annual dividend (dollars or percent)that will be received from this asset
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Purchase Date - the year the asset was bought or initiated in terms of an account or the year that you intend to purchase an asset.
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Down Payment - portion of the purchase price that was/will be paid upon asset purchase. Note: for assets such as stocks, etc. this will be 100%.
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| 7. |
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Outstanding Loans - includes all personal and business loans that are not listed on the machinery list. Note: exclude personal loans if only the farm business is intended to be analyzed. (Back)
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Description - short description of debt such as house, land, etc.
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Beginning loan balance - loan balance as of January 1st of the initial year of the analysis.
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Remaining Years - the number of years left to be repaid on the note. For example, if your home loan was for 30 years and you bought it in 1980 then there would be 11 years remaining on the note in 1998.
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Interest Type - whether the interest rate associated with the note is fixed or variable.
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Interest Rate - the current interest rate associated with the note such as 8.5%.
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Loan Term - all loans are categorized as either short, intermediate or long term.
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Unit Association - if the loan is associated with a particular production unit enter the unit number.
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Origination Year - the year the loan was initiated.
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Advanced Principal Payments - fixed annual advanced principal payments.
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Year Paid Off - the year in which the loan is to be paid off.
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Farm/Non-farm Loan - designate whether the loan is a farm or non-farm expense loan.
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a. |
Enter '0.0' for a farm expense loan |
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b. |
Enter '1.0' for a non-farm expense loan |
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| 8. |
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Total Labor Costs (Back) |
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| a. |
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Number of full-time employees on the operation other than owner/operator. |
| b. |
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Total compensation per full-time employee including wages, social security, health benefits, and in-kind compensation such as housing or beef. |
| c. |
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Annual cost of part-time labor utilized on the operation. |
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| 9. |
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Tax Information (Back) |
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| a. |
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Number of personal income tax exemptions taken by the owner-operator. |
| b. |
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Number of children under the age of 18 years. |
| c. |
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Annual federal income tax credits. |
| d. |
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Annual federal income itemized tax deductions taken. |
| e. |
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Annual property taxes on land and buildings |
| f. |
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Annual personal property taxes on items such as vehicles, cattle, and farm equipment. This value is typically zero for Texas. |
| g. |
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Annual cost of other taxes such as irrigation district and road and bridge. Normally zero. |
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| 10. |
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Other Whole Farm Costs - annual costs of specified overhead costs. (Back) |
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Annual cost of accounting and legal fees. |
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Annual cost of repairs and maintenance and general farm and ranch supplies. |
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Annual insurance costs for the operation including vehicles, equipment, grain bins, equipment sheds, and farm liability insurance. Note: Excludes employee health benefits. |
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Annual cost of miscellaneous overhead expenses such as license tags, magazine subscriptions, etc. |
| e. |
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Annual feed, shoeing, and veterinary costs for any horses on the operation. |
| f. |
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Annual fuel and labor costs. Note: If you enter this number as a total for the farm, then leave tillage fuel costs blank on the crop unit input sheets. |
| g. |
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Annual business phone (including cellular), utilities, and DTN expenses for the operation. Note: If the number you enter includes irrigation fuel, then leave irrigation fuel costs blank on the crop unit input sheets. |
| h. |
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Annual cost of all other uncategorized farm expenses such as business travel costs. |
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| 11. |
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Form of business such as sole proprietor such as partnership, corporation, etc. (Back) |
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Enter a "0" if a Sole Proprietorship |
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Enter a "1" if a Partnership |
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Enter a "2" if a C-Corp. |
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Enter a "3" if a S-Corp. |
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| a. |
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Percent of business owned by the primary partner or shareholder. |
b. |
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Total annual fixed dividend paid by the corporation. |
c. |
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Percent of beginning cash reserves paid as dividends at the beginning of each year. |
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| 12. | |
Primary Partner (Back) |
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Primary partner's annual guaranteed salary for labor contribution. |
b. |
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Primary partner's annual guaranteed salary for property contribution. |
c. |
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Primary partner's annual bonus calculated as a percent of receipts. Entered as a percent. |
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| 13. | |
Other Partner/Partners (Back) |
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Other partner's annual guaranteed salary for labor contribution. |
b. |
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Other partner's annual guaranteed salary for property contribution. |
c. |
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Other partner's annual bonus calculated as a percent of receipts. Entered as a percent. |
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| 14. | |
Operating Loan (Back) |
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Total amount of the operating loan granted by lender - regardless of amount accessed. |
b. |
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Interest rate charged on operating loan. |
c. |
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Total number of months the operating loan is at its maximum divided by 12. |
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| 15. | |
Terms for New Debt (Back) |
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Number of years a cash flow deficit can be financed over. |
b. |
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Number of years a new or refinanced intermediate term asset can be financed over. |
c. |
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Interest rate charged on intermediate term debt such as equipment loans. |
d. |
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Average minimum down payment required on intermediate term debt. Generally, 20 to 30 percent. |
e. |
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Fee charged by lender to refinance a cash flow deficit. |
f. |
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Interest rate charged on new long term debts such as land. |
g. |
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Interest rate earned on short-term savings such as a passbook savings or checking account. |
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| 16. | |
Annual value of farm income earned from side activities such as custom work, consulting, or cooperative patronage dividends. This number can change from year to year. (Back) |
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| 17. | |
Off-farm Income (Back) |
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Annual value of non-taxable income, such as social security which is already taxed. |
b. |
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Annual value of taxable, off-farm salary income for the farm operator. |
c. |
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Annual value of taxable, off-farm salary income for the spouse. |
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| 18. | |
Family Living Expenses (Back) |
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Minimum level of annual family living expenses. |
b. |
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Maximum level of annual family living expenses. |
c. |
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Annual family living expenses for the first year of the analysis. |
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| 19. | |
Ending Cash Decision - the user can decide what to do with ending cash in any year above the level indicated in 19a. (Back) |
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Ending cash balance above this level will be used as indicated in 19b and 19c. |
b. |
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Prepay inputs such as seed, fertilizer, etc. up to the amount specified. |
c. |
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Expenses prepaid the year prior to the first year of the analysis. |
d. |
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Prepay principle on notes and/or invest in long-term investments up to the limits indicated. |
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| 20. | |
Leased Equipment - consists of any equipment leased under annual or long-term arrangements. Enter the annual fixed lease payment and length of lease if multi-year. (Back) |
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| 21. | |
Summary of Equipment Complement (Back) |
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Equipment Name - short description of equipment such as JD4020 or chisel plow. |
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Year Purchased - the year that you bought the equipment. |
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Current market value - market value of equipment as of January 1st of the first year of the analysis. |
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Current replacement cost - the current replacement cost of this particular item. This may be a used equipment price if you would replace this piece of equipment with used equipment. If the equipment is to be replaced with a new rather than used replacement then enter the replacement cost of the new item. |
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Economic Life - the number of years you will own and use the equipment. Note: this is not how many years the equipment has left. |
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Replace with New or Used - will you replace this particular piece of equipment with a new or used replacement. |
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Remaining Basis - remaining tax basis in the equipment. |
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Remaining Loan Balance - the amount of principle owned on this piece of equipment as of January 1st of initial year of the analysis. Note: this may be zero. |
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Yrs Remaining on Note - the number of years left to be repaid on the note. For example if the loan was set for 5 years on a new tractor and you bought it 1995 then there would be 2 years remaining on the note in 1998. |
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Fixed or Variable Int. - is the interest rate associated with the note fixed or variable. |
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Interest Rate - the interest rate associated with the note such as 8.5%. |
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Percent Down Payment - is the percentage paid down when the equipment was first purchased. |