Mitchell Technical Institute

Student News

Important Dates to Remember

2005 Annual Report

April, 2006

The South Dakota Farm Business Management Program would like for you to have a copy of the 2005 South Dakota Annual Report.

The primary intent of the Farm/Ranch Business Management Curriculum is to assist farmers and ranchers in developing business/management skills needed to analyze data collected from an accrual accounting system and makes applications to their individual operations. Participants enroll on an annual basis into a potential 3-year curriculum but may exit at anytime or participate longer as curriculum is updated and the educational needs of the participant change. To assist the participant in developing a comprehensive record system each member is given the opportunity to attend monthly classes and receive individualized instruction to customize a record keeping system either manually or by computerization. Information provided by participants to create a complete analysis is kept STRICTLY CONFIDENTIAL between the program instructors and participant. The analysis created at the end of the fiscal year provides valuable information for evaluating individual aspects of the farm/ranch operation. Each of the enterprises of the farm/ranch can individually be reviewed to determined areas which can be identified for improvement. Class and individualized instruction can then be planned to assist the participant in developing improved management skills.

Important information for you to look at is:

Cash Operating Income on page 10, line 34:	$476,410
Cash Operating Expenses on page 11, line 41:	$401,820
Net Cash Income on page 11, line 42:	$74,590
Net Farm Profit on page 14, line 48:	$72,904
Rate of Return on Average Capital on page 17, line 18:	9.12%
Change in Equity on page 17, line 43:	$57,535
Equity to Asset Ratio on page 28, line 36:	62.45%
Sweet 16 Rations on page 28, line 4 through 25.
Personal Spending on page 33, line 31:	$40,427
Crop Enterprise Information on pages 38 through 57.
Livestock Enterprises Information on pages 58 through 72.
Financial, Crop and Livestock Trends on pages 73 through 76.

As you look over the 2005 Annual Report, understand that each individual farmer/rancher enrolled can receive similar information for his/her own individual analysis of his/her farming business. Individual farmers/ranchers can compare how he/she is doing compared to the Averages and to the Sweet 16 financial ratios.

The Farm/Ranch Business Programs for fiscal year 2005 are funded through participant tuition and the Division of Workforce and Career Preparation through the South Dakota Department of Education and Cultural Affairs.

Information contained in this report was obtained by summarizing data offered voluntarily by program participants who submitted records for analyses for 2005 . The data processing was accomplished through Specialized Data Systems, Inc., of Madison, Wisconsin.

The recruiting of new farms to start the full time Farm Business Management Program starts in the late Fall of each year. The South Dakota Farm Business Management Program also serves as a provider of the FSA Farmer Borrower Training Course in the January/February time frame.

This Annual Report is compiled by:

Lynn Schluckebier
215 E Jackson Ave
Seward, Nebraska 68434
(402-643-4340)

The Program is coordinated by the Division of Workforce and Career Preparation with the South Dakota Department of Education and Cultural Affairs by:

Gary M. Grey
700 Governors Drive
Pierre, SD 57501
(605-773-4726)

Current Instructors:

Calvin Pietz
Mitchell Tech Institute*
Mitchell, SD 57301
995-3024 ext. 198
1-800-952-0042

Roger DeRouchey
Mitchell Tech Institute*
Mitchell, SD 57301
995-3024 ext. 198
1-800-952-0042

Ray Beard
Lake Area Tech Institute*
230 11th St. NE
Watertown, SD 57201
882-LATI (5284)
1-800-657-4344

*Farm and Ranch Business Management Education programs for 2005

Information contained in this report was obtained by summarizing data offered voluntarily by program participants who submitted records for the 2005 business year.