Cash Flow Projection

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Nathan Carter
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1 Name Address City, State Preparer Cash Flow Projection Farm Financial Planning Input Forms Farm No. (3 digit) Beginning Cash Flow Date Version 1 Month Year The Cash Flow Projection Program is designed to assist farm operators in projecting cash needs, farm profitability and debt servicing capabilities. The user may change input prices, yields and associated costs to see the effect on the financial projections of the farm business. Following is a summary of the input pages: PAGE 1 PAGE 2 PAGE 3 PAGE 4 {Separate page per crop} Crop Budget, Acres Owned / Rented / Yields Crop Costs Payment Schedule Rental Agreement Adjustments Crop Price Estimates Crop Inventory Crop Sales Schedule Accrual and Financial Information Livestock Price Estimates Livestock and Commercial Feed Inventory Livestock Sales Schedule Livestock Purchases Schedule Feed Usage Per Unit of Production Inventory Adjustments Feed Purchases Undistributed Costs Other Income Loan Payment Schedule - Direct Entry Loan Payment Scheduel - Straight Amortization Capital Purchases

2 Crop CROP PRODUCTION DATA 1-1 Crop Budget-Acres Owned/Rented/Yields 1-2 Crop Costs Input estimated total cost/acre for each land class Land Class* Acres Rental Agreemen Yield My share production Harvest Fertilizer Herbicide Insecti- Seed Dry & Crop Machine Other Description Owned Acres Share % Per acre (Bushels or Units) Month cide Store Ins. Hire Crop Exp. *Uniform yields, costs, and rental agreements. Total Production Total for dry & store, crop insurance, machine hire and other crop expenses may be entered in section 1 Caution: Do not enter same information in both sections. Optional: Not entered in computer. 1-3 Crop Expense Payment Schedule 1-4 Rental Agreement Adjustments Enter the percent of total payments made in each period. Each line must total 100%. All land classes assumed to be paid at the same time. Month Fertilizer Herbicides Insecticides Seed Dry & Store Crop Insurance Machine Hire Other Crop Exp. Use this section only if rental agreements are not the same for income & expenses. Enter your expense % for items that differ. Land Class Ferti- Hebi- Insecti- Seed Dry & Crop Machine Other Description lizer cide cides Store Insur. Hire Crop Exp.

3 Crop CROP PRODUCTION DATA 1-1 Crop Budget-Acres Owned/Rented/Yields 1-2 Crop Costs Input estimated total cost/acre for each land class Land Class* Acres Rental Agreemen Yield My share production Harvest Fertilizer Herbicide Insecti- Seed Dry & Crop Machine Other Description Owned Acres Share % Per acre (Bushels or Units) Month cide Store Ins. Hire Crop Exp. *Uniform yields, costs, and rental agreements. Total Production Total for dry & store, crop insurance, machine hire and other crop expenses may be entered in section 1 Caution: Do not enter same information in both sections. Optional: Not entered in computer. 1-3 Crop Expense Payment Schedule 1-4 Rental Agreement Adjustments Enter the percent of total payments made in each period. Each line must total 100%. All land classes assumed to be paid at the same time. Month Fertilizer Herbicides Insecticides Seed Dry & Store Crop Insurance Machine Hire Other Crop Exp. Use this section only if rental agreements are not the same for income & expenses. Enter your expense % for items that differ. Land Class Ferti- Hebi- Insecti- Seed Dry & Crop Machine Other Description lizer cide cides Store Insur. Hire Crop Exp.

4 Crop CROP PRODUCTION DATA 1-1 Crop Budget-Acres Owned/Rented/Yields 1-2 Crop Costs Input estimated total cost/acre for each land class Land Class* Acres Rental Agreemen Yield My share production Harvest Fertilizer Herbicide Insecti- Seed Dry & Crop Machine Other Description Owned Acres Share % Per acre (Bushels or Units) Month cide Store Ins. Hire Crop Exp. *Uniform yields, costs, and rental agreements. Total Production Total for dry & store, crop insurance, machine hire and other crop expenses may be entered in section 1 Caution: Do not enter same information in both sections. Optional: Not entered in computer. 1-3 Crop Expense Payment Schedule 1-4 Rental Agreement Adjustments Enter the percent of total payments made in each period. Each line must total 100%. All land classes assumed to be paid at the same time. Month Fertilizer Herbicides Insecticides Seed Dry & Store Crop Insurance Machine Hire Other Crop Exp. Use this section only if rental agreements are not the same for income & expenses. Enter your expense % for items that differ. Land Class Ferti- Hebi- Insecti- Seed Dry & Crop Machine Other Description lizer cide cides Store Insur. Hire Crop Exp.

5 2-1 Crop Price Estimates Page 2 Quarter 1 Quarter 2 Quarter 3 Quarter Crop Inventory Corn Soybeans Wheat Other 1 Other 2 Other 3 Roughage 1 Roughage 2 Roughage 3 Input $/Unit Unpriced Unpriced Priced Priced Wheat Other Other Other Corn Soybeans Corn Soybeans Crop# 1 Crop# 2 Crop# 3 Units Price/Unit Quantity Price/Unit (bu., ton.,etc.) (Beg. Yr.) (Beg. Yr.) (End Yr.) Bushels Units Price/Unit Quantity Price/Unit Quantity (bu., ton.,etc.) (Beg. Yr.) (Beg. Yr.) (End Yr.) (End Yr.) 2-3 Crop Sales Schedule Input quantity of crop to be sold in each period Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Month 10 Month 11 Month 12 Unpriced Unpriced Priced Priced Wheat Other Other Other Corn Soybeans Corn Soybeans Crop# 1 Crop# 2 Crop# 3

6 Page 2 continued 2-4 Accrual and Financial Information Bank Accounts Operating Loan Interest Beginning Check Balance Month(s) operating interest to be paid. Place a "1" in appropriate month(s). Minimum Checking Balance Month 1 Month 7 Month 2 Month 8 Maximum Checking Balance (1) Month 3 Month 9 Month 4 Month 10 Beg. Operating Loan Balance (2) Month 5 Month 11 Month 6 Month 12 Beg. Oper. Accred Int. Balance Other Accrual Balance (3) Operation Loan Interest Rate % Depreciation Current Savings Balance Farm accounts receivable Beginning of year Minimum Savings Balance End of year Savings Interest Rate % Accounts payable and other unpaid items Beginning of year End of year Prepaid expenses and other unused assets Beginning of year End of year (1) Level of checking balance that will cause money to be transferred to savings. (2) If operating note is on a fixed principal and interest payment schedule, include the beginning balance and payment schedule on PAGE 4 in the direct entry loan section. Operating balance included on this page will be paid when funds become available. DO NOT enter the same note in both places. (3) The balances below should not include any accrued interest. Enter accrued interest for intermediate and long term notes in section 4-3 and 4- Enter operating accrued interest on the left hand side of this page.

7 3-1 Livestock Price Estimates 3-2 Livestock and Commercial Feed Inventory Input $/cwt. unless specified otherwise Sales Finish Feeder Feeder Beef Milk Eggs Breeding Livestock Hogs Pigs Cattle Herd (cwt.) (dozen) Hogs Cows Other Quarter 1 Quarter 2 Quarter 3 Quarter 4 Pur- Finish Feeder Feeder Beef Breeding Livestock chases Hogs Pigs Cattle Herd Hogs Cows Other Quarter 1 Quarter 2 Quarter 3 Quarter 4 Finishing Hogs-Market Finishing Hogs-Breeding Feeder Pigs Feeder Cattle Beef Herd-Market Beef Herd-Breeding Other Livestock Mrkt. Other Livestock Brd. Commercial Feed Beginning Ending $/CWT. CWT. $/CWT. CWT. conversion factor on the bottom line. 3-3 Livestock Sales Schedule 3-4 Livestock Purchases Schedule Input estimated cwt. or head sales per month for each livestock type. If Input estimated cwt. or head purchased per month for each head sales are used, enter a cwt./head conversion factor on the bottom line livestock type. If head purchased are used, enter cwt./head Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Month 10 Month 11 Month 12 Cwt. Conv. Factor Finish Feeder Feeder Beef Milk Eggs Breeding Livestock Hogs Pigs Cattle Herd (cwt.) (dozen) Hogs Cows Other Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Month 10 Month 11 Month 12 Cwt. Conv. Factor Finish Feeder Feeder Beef Breeding Livestock Hogs Pigs Cattle Herd Hogs Cows Other

8 Page 3 continued 3-5 Feed Usage per Unit of Production Input bushels of corn/cwt. of livestock produced and pounds of commercial feed/cwt. produced. Program will assume uniform feeding schedule unless changed with % schedule below. You have the option of entering corn used on a per unit basis, or as a total in the Inventory Adjustment section below. Corn Bushels/ Cwt. Produced Lbs. Commercial Feed/Cwt. Produced Commercial Feed Price - $/LB. Finish Feeder Feeder Beef Milk Eggs Hogs Pigs Cattle Herd (cwt.) (dozen) Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Month 10 Month 11 Month 12 Feeding Schedule other than uniform % per period 3-6 Inventory Adjustments 3-7 Feed Purchases Use this section when by-passing section above for corn fed/cwt. produced. Use this section for any other adjustments to crop inventory. Input total units (bushels, ton, etc.) to be adjusted. Corn Soybeans Wheat Other Crop #1 Other Crop #2 Other Crop #3 Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Month 10 Month 11 Month 12 Planned Corn Purchases Other Feed Bushels $/Bu. Purchases

9 4-1 Undistributed Costs Page 4 Fertilizer * Herbicides * Insecticides * Seed * Machine & custom hire * Drying & storage * Fuel & oil Hired labor R.E. & property taxes Utilities Farm insurance * Mixcellaneous farm exp. * Livestock expenses Rents and leases Marketing & trans. exp. Mchy & equip. repairs Auto-Farm share Building repairs Land improvements Nonfarm business exp. Futures acct. deposits Investment & other Income & S.S. taxes Family living expense Enter total cost for year along with estimated percentage paid each period. For uniform nonthly payments place a X in column A. (Click on Arrow in Computer Program) Total. A Month Month Month Month Month Month Month Month Month Month Month Month $/Yr * CAUTION: Do not include machine hire, dry & store, crop insurance, and miscellaneous crop expenses already included on crop page. CHECK TOTAL 4-2 Other Income $ Received/Month Government Payments Other Farm Receipts Futures Account Withdrawals Mchy. & Equipment & RE Sales Interest Income {cash received} Dividend Income {cash received} Non-Farm Income #1 Non-Farm Income #2 Other S.T. Borrowed Money & CCC* I.T. & L.T. Borrowed Money* Month Month Month Month Month Month Month Month Month Month Month Month

10 4-3 Loan Payment Schedule - Direct Entry Page 4 continued Direct Loan Section Use this section to input payments (principal (PRI) and interest () directly into cash flow. Loan Description Beg. Yr. Int. Yrs. Accrued Interest Month Month Month Month Month Month Month Month Month Month Month Month Balance Rate Out Beg. Ends S.T. Notes & CCC* PRI PRI PRI PRI PRI PRI PRI PRI PRI PRI 1 PRI *Program allows input for short term notes in two places; use short term note line on this page if there is a fixed payment schedule. Otherwise, enter beginning operating loan balance on page 2 in BANK ACCOUNT section. DO NOT INCLUDE YOUR OPERATING LOAN BALANCE IN BOTH PLACES. 4-4 Loan Payment Schedule - Straight Amortization 4-5 Capital Purchases Use this section if you want computer to calculate principal and interest payments. Assumes a straight amortization loan with fixed interest rate. Available Payment Types 1 Payment /Month = 12 2 Payments/Year = 2 1 Payment/Quarter = 4 1 Payment/Year = 1 Loan Description Beg. Year Interest Years Payment Month # Accrued Interest Balance Rate Out Type 1st Payment Beg. Yr. End. Yr Make certain to include any new loan payments in direct entry loan section above. Enter zero beg. of year loan balance. Item to be purchased Month # Purchased Total Cash $ Amount Difference Financed

Farm Income Statement 2015 Moorhead Farm Business Management Annual Report (Farms Sorted By Net Farm Income) Number of farms

Farm Income Statement 2015 Moorhead Farm Business Management Annual Report (Farms Sorted By Net Farm Income) Number of farms Farm Income Statement Cash Farm Income Barley 5,929 2,010 - - 12,581 14,753 Beans, Black Turtle 350 - - - - 1,723 Beans, Navy 3,627 13,512 - - 5,385 - Corn 168,160 172,777 84,655 79,253 289,902 214,568