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www.agecon.okstate.edu/ifmaps. What is IFMAPS?. A free and confidential service assisting Oklahoma farmers and ranchers with business planning for over 25 years Specialists work with families one-on-one to develop business plans and evaluate alternative plans

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Agecon okstate ifmaps

www.agecon.okstate.edu/ifmaps


What is ifmaps

What is IFMAPS?

  • A free and confidential service assisting Oklahoma farmers and ranchers with business planning for over 25 years

  • Specialists work with families one-on-one to develop business plans and evaluate alternative plans

    • Specially trained part-time Extension employees with business and farm backgrounds

    • Extension area agricultural economics specialists


Ifmaps can

IFMAPS can

  • Prepare crop/livestock budgets plus financial statements

    • Cash flow

    • Balance sheet

    • Income statement

    • Financial ratios

  • Identify strengths and potential areas of improvement in the whole farm plan

  • Provide an objective point of view


Examples of analyses completed

Examples of analyses completed:

  • What is income likely to be with a scaled down herd or changed livestock enterprises?

  • Can additional machinery or equipment (or land) be purchased and will it pay?

  • How will a new enterprise impact finances?

  • How can the operation earn enough income to support a second generation?

  • Documentation for loan applications, Linked Deposit loans, Ag Diversification grants, etc.


Producers gain

Producers gain…

  • Improved understanding of the farm’s financial position and performance

  • Assistance in identifying strategies to improve the farm finances

  • Referrals to other educators and agencies where appropriate


Ifmaps process

IFMAPS process

  • Producer initiates contact with IFMAPS

    • 1-800-522-3755

  • Case is assigned to local IFMAPS specialist through Stillwater office

  • IFMAPS contacts producer to discuss information needed

  • Producer gathers and summarizes farm records


Ifmaps process continued

IFMAPS process (continued)

  • IFMAPS and producer arrange a mutually convenient time to meet

  • IFMAPS uses computer software to develop budgets and financial statements

  • IFMAPS reviews the financial statements with the producer

    • Confirms data is correct

    • Discusses financial situation and expected performance

    • Helps identify and develop alternative plan when requested


What farmers and ranchers say

What farmers and ranchers say:

  • “…helps individuals look at their overall program and see what pays and what does not.”

  • “The information received was very important in establishing future plans for my farm operation.”

  • “I think it’s a tool all of us in production need to use. It puts it on paper to see, what a lot of us assume we know. I appreciate what you are doing.”

  • “It is a very good program. It puts information in order and perspective and makes it easier to understand.”


Thanks for attending

Thanks for Attending


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