3. Dairy Production Data: 3.1. Year-end milk check showing total pounds of milk sold for the year DHIA Herdcode
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1 Dairy Cash Flow Plan extension.psu.edu Annual Cash Flow Checklist: 1. Historical Financial Data: Income & Expenses Bring print out from computer or paper record book if possible Schedule F & 4797 tax forms if available 2. Rations and Crops: 2.1. Rations for each cattle group on the farm (See Ration Handout) 2.2. Purchased feed prices 2.3. Planned crop acreage & yields for all crops planned (See Crops Handout) 3. Dairy Production Data: 3.1. Year-end milk check showing total pounds of milk sold for the year DHIA Herdcode 4. Annual Cash Flow: 4.1. Loan Payment Amounts (Principal and Interest for the year) 4.2. Totals for all Accounts Payable, Operating Lines of Credit, Credit Cards for opening balance on line of credit This list will help you be prepared for completing your cash flow plan. Even if you do not fill out all the attached pages, please bring the pages listed above. If you have questions regarding this worksheet, please call your local dairy extension educator.
2 2. Rations and Crops Total Cows Milking Cows Heifer Groups Calves on Milk Weaned - 6 months 7-12 months months months 25 months & older Bred Heifers Number of head 2.1. Rations for each cattle group Please bring print outs of each ration for the following groups: (Check each item when information is collected) Lactating Cow rations (all groups) Dry Cows (all groups) Heifers * Heifers may not have written rations, but please record what all heifer groups are eating and how much. Ex: Round bales fed per week; pounds of grain fed per day; etc Feed Prices Bring a list of purchased feed prices for all ingredients fed on the farm Ex. All bulk and bagged feed The University is committed to equal access to programs, facilities, admission, and employment for all persons. It is the policy of the University to maintain an environment free of harassment and free of discrimination against any person because of age, race, color, ancestry, national origin, religion, creed, service in the uniformed services (as defined in state and federal law), veteran status, sex, sexual orientation, marital or family status, pregnancy, pregnancy-related conditions, physical or mental disability, gender, perceived gender, gender identity, genetic information or political ideas. Discriminatory conduct and harassment, as well as sexual misconduct and relationship violence, violates the dignity of individuals, impedes the realization of the University s educational mission, and will not be tolerated. Direct all inquiries regarding the nondiscrimination policy to Dr. Kenneth Lehrman III, Vice Provost for Affirmative Action, Affirmative Action Office, The Pennsylvania State University, 328 Boucke Building, University Park, PA , kfl2@psu.edu, phone:
3 2.3. Crop Summary- EXAMPLE Determine Cost of Home-Raised Forages and Grains: Crop Name Corn Silage Alfalfa Corn Soybeans Ryegrass Corn Double Crop? Double Crop Total Amount Harvested ,240 1, ,200 Unit (ton, lbs, bu etc) tons tons bushels bushels tons Bushels Unit Weight (bu., ton) Acres Owned Acres Rented Total Acres Yield per Acre Input Costs Crop Costs (total or per acre): Seed $ $51.80 $ $58.70 $69.10 $ Fertilizer $ $61.67 $ $ Chemical $65.00 $15.00 $65.00 $5.00 $ Custom Hire $83.02 $81.00 $81.00 Land Rent (per rented acre) $ $ $ $ $ $ $
4 2.3. Crop Summary Fill in the Shaded Cells Determine Cost of Home-Raised Forages and Grains: Crop Name Double Crop? Total Amount Harvested Unit (ton, lbs, bu etc) Unit Weight (bu., ton) Acres Owned Acres Rented Total Acres Yield per Acre Input Costs Seed Fertilizer Chemical Custom Hire Crop Costs (total or per acre):
5 Annual Cash Flow Data Page 1- EXAMPLE Farm Owner's Name: Case Farm Dairy Annual Cash Flow Per Cow Farm Total Per CWT. Milk Price $ Total Cows 86 Cows Milking 75 Milk/Cow/Day 80 CASH INFLOWS Beginning cash balance Patronage dividends (coop) $ 1,700 Cull cow sales $ 11,000 Bull calf sales $ 1,800 Misc. dairy sales/income Govt dairy payments (MILC) Other govt. payments $ 4,000 Crop sales $ 21,600 Custom work income Other farm income CASH OUTFLOWS Whole Farm Crop Expenses Seed $ 19,522 Fertilizer $ 15,746 Chemical $ 7,910 Crop Custom Hire $ 9,325 Land Rent $ 21,100 Direct Expenses: (Enter Per Cow) Per Cow Breeding & Registration $ 64 Veterinary & Medicine $ 127 bst $ 19 Supplies $ 173 DHIA $ 21 Contract Heifer Raising Dairy Custom Hire $ 10 Milk Hauling $ 155 Milk Marketing $ 56 Bedding $ 60
6 Annual Cash Flow Data Page 2- EXAMPLE Related Operating Expenses (Overhead) Farm Total Fuel and oil $ 7,500 Repairs $ 11,500 Hired labor, withholding, ins. $ 26,000 Machinery leases Building leases Real estate taxes $ 6,800 Farm insurance $ 7,500 Utilities $ 12,000 Risk mgt.& advertizing Dues and professional fees $ 900 Miscellaneous $ 4,600 Family Living/Owner Draw $ 50,000 Income Taxes Minimum ending balance Farm Total Capital Sales Capital Purchases New Borrowing Loan Payments (Principal + Interest) $ 80,964 Basis to Use $ 2.50 Beginning Annual Operating Balance Annual operating interest payment % %
7 Annual Cash Flow Data Using your own records & tax information, please fill out this form Fill in Only the Shaded Cells Farm Owner's Name: Dairy Annual Cash Flow Per Cow Farm Total Per CWT. Milk Price Total Cows Cows Milking Milk/Cow/Day CASH INFLOWS Beginning cash balance Patronage dividends (coop) Cull cow sales Bull calf sales Misc. dairy sales/income Govt dairy payments (MILC) Other govt. payments Crop sales Custom work income Other farm income CASH OUTFLOWS Whole Farm Crop Expenses Seed Fertilizer Chemical Crop Custom Hire Land Rent Direct Expenses: (Enter Per Cow) Breeding & Registration Veterinary & Medicine bst Supplies DHIA Contract Heifer Raising Dairy Custom Hire Milk Hauling Milk Marketing Bedding Per Cow
8 Annual Cash Flow Data Related Operating Expenses (Overhead) Fuel and oil Repairs Hired labor, withholding, ins. Machinery leases Building leases Real estate taxes Farm insurance Utilities Risk mgt.& advertizing Dues and professional fees Miscellaneous Farm Total Family Living/Owner Draw Income Taxes Minimum ending balance Capital Sales Capital Purchases New Borrowing Loan Payments (Principal + Interest) Farm Total Basis to Use Beginning Annual Operating Balance Annual operating interest payment % %
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