Reviewed by: _____ by T14okWm

VIEWS: 2 PAGES: 3

									Reviewed by: Damona Doye

Program Name or Description: FINPACK
Subject matter: Farm financial planning and analysis

URL: http://www.cffm.umn.edu/Software/FINPACK/

Curriculum Objectives (adapted from the         Delivery Methods:                     Activities:
website):                                       1. Campus training                    1. Basic FINPACK training
1. For Producers: Help individuals
   evaluate a farm financial situation,         2. Online instruction                 2. Advanced FINPACK training
   explore alternatives, and make
   informed decisions about the future          3. “Hands on” training upon request   3. FINPACK on-line training
   direction of the farm.
2. For Ag Professionals: Help evaluate a                                              4. FINPACK for lenders conference
   client's financial situation, explore
   alternatives, and recommend
   management strategies.
3. For Ag Lenders: Help make timely and
   thorough credit evaluations using a
   variety of planning and analysis
   components with added features for
   risk rating and credit scoring, collateral
   analysis, FSA guarantees, and loan
   presentations.


Formal Evaluations and known impacts:

Development History/Peer Review:
        FINPACK was developed at University of Minnesota in 1972 and with national promotion, it has been adopted widely in the
U.S., including USDA/FSA in some states. It has also been adapted for use in several countries.

Reference: Ferrara, A., D. Nordquist, and A.Ciani. “FINPACK: The Potential to Adapt It for European Countries, With a History of
       the Development of FINPACK within the U.S. Extension Service.” Staff Paper P96-3. Department of Applied Economics.
       University of Minnesota. March 1996.

Program Utilization:
      FINPACK has been used by more than 100,000 farmers and ranchers during the past 10 years.

Opportunities                 Barriers                 Strengths                  Weaknesses                   Suggestions for
                                                                                                               Adaptation
1. Nationwide use             1. Data intensive        1. Robust analysis         1.                           1.
                                                          based on extensive
2.                            2. Cost                     production and          2.                           2.
                                                          financial historical
3.                            3. Not for the casual       data and statistics     3.                           3.
                              user?                       based on combined
                                                          production and
                                                          financial information
                                                       2. Excellent support
                                                       3. Add-on programs in
                                                          business planning
                                                       4. FINBIN database for
                                                          benchmarks

Copyrights: Regents of the University of Minnesota

Accessibility:

Licensing:
Contact personnel: Center for Farm Financial Management, University of Minnesota, 130 Classroom Office Building, 1994 Bufford
Avenue, St. Paul, MN 55108. Phone: 800-234-111. Fax: 612-3105.

Costs: $99 for personal annual subscription, $395 for personal version. Call for pricing for professional version and Lender version.

Language: English

Training requirements:

Adaptation Suggestions:

								
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