Department of Agricultural Economics Extension

IFMAPS

A confidential farm financial planning service

IFMAPS – Intensive Financial Management Planning and Support - will be discontinued effective April 1, 2020. Created in 1985, IFMAPS was a service provided by trained specialists who worked with individual agricultural producers with developing and evaluating sound comprehensive business plans. Over the years, IFMAPS helped thousands of Oklahoma producers. In recent years, the number of producers seeking assistance has declined substantially and it is hard to justify a limited amount of resources devoted to this program.

Given the market volatility associated with COVID-19, there are a number of producers who are not only concerned about their personal health, but also their financial health going forward. Producers can stay proactive by keeping the communication lines open with their business partners including family members and lenders. The more people that are thinking through the situation, the better the chances of arriving at an appropriate decision. By sharing the facts and concerns and then looking at the alternatives, a good plan to navigate the troubled waters ahead can be made.

In the absence of this program, there are Extension resources available to assist producers to better organize their financial information, evaluate this information and make informed, realistic decisions about their operations.

The Farm Management and Finance website via OSU Agricultural Economics Extension contains a clearinghouse of farm management topics like financial statements, enterprise budgets, whole-farm planning, market planning, investment and financial planning, tax considerations, farm business entities, and risk management.

The OSU Beef Extension website features a wealth of information for beef producers on the many aspects of production, business planning, risk management, and marketing.

There is also a daily farm management presence on Facebook. Just type “OSU Farm Management” in the search box.

Questions can be referred to Roger Sahs via the Program Contributors link.

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