What does a cooperator receive?

  • A complete record of his farm business
    Each farmer maintains a complete production and financial record of his farm business.  Receipts, expenses, inventories and capital accounts, along with crop and livestock production records, provide information for the analysis reports.  At the end of the accounting period, totals are transferred via remote computer terminals for computers to take over the routine jobs of summarizing, analyzing, and printing the reports.
  • Computerized business reports
    • Income Statement shows profitability and how much money is available for family living and new investments.
    • Cash Flow helps to plan the availability of funds to meet loan repayment schedules, operating expenses, and family living needs.
    • Net Worth is used to evaluate risk and financial progress.
    • Comparative Analysis compares returns and cost structures of farms and enterprises of similar size and type.
    • Enterprise and Trend Reports are provided as requested and needed by the cooperator
  • Counsel with a specialist
    An experienced Farm Analysis Specialist edits the record information and supervises the preparation of all reports.  He meets regularly with each cooperator to help interpret analysis reports and provide informed counsel on financial management problems:
    • Production costs
    • Tax law changes
    • Capital debt repayment capacity
    • Projected cash flows
    • Selection of business structure
    • Investment analysis alternatives
    • Estate planning
    • Personnel management
  • Newsletters and Publications
    Specialists prepare and distribute, in cooperation with the University of Illinois, Department of Agricultural and Consumer Economics, newsletters offering timely management tips, latest on state and federal tax regulations, and useful farm planning informations.
  • Income tax planning and preparation
    Income tax planning and preparation assistance is available for those who request it.


How do I enroll in the FBFM program?

Prospective members should contact the Association office serving his area.


How often does the cooperator see the FBFM Specialist?

FBFM is a year round program.

  • January. The specialist meets with you and checks your records to see that they are complete. The records of all cooperators are then summarized under the supervision of experienced personnel.
  • February-March. Financial reports of the year's business are returned to each cooperator. Assistance with income tax is provided for those who request it.
  • March-May. Each cooperator meets individually with the specialist (either in his office or on the farm) to discuss the financial and comparative business analysis reports and to review proposed changes in the farm operation.
  • June-July-August. The specialist schedules a visit to each cooperating farm. The visit provides an opportunity for counsel on business organization and financial management problems--capital purchases, repayment capacity, etc. In addition to editing the record-keeping activities, the specialist can monitor progress on your farm and assist in planning for next year's business operation.
  • September-October-November. The specialist makes another visit to your farm to continue editing the record-keeping activities, to discuss management problems, and to provide income tax planning assistance.
  • December. Additional tax planning assistance is offered to those with unique problems. Current management problems, including tax law changes, and directions for completing the business records for analysis may be discussed at county meetings.


What other services are available?

Additional counsel on estate planning, retirement planning, projected cash flows and other financial and business planning needs are offered in various forms throughout the state.


What do cooperators like about this program?

  • You learn more about your business. The comparative analysis report provides a comprehensive review of your total business. You learn about its strong points and how you can use them to retain profits in your business.
  • You gain confidence in making and implementing better financial management decisions.
  • You enjoy better living. By studying your analysis reports, you can organize your business with a better chance of attaining your business and family goals.


How can I find the FBFM association office serving my area?

See the map on our directory page. Click on your county to find the FBFM Association serving your area.