NCTC FBM - Moorhead
BALANCE SHEET AT COST VALUES, 1999
Northland Community and Technical College Farm Business Mgt.
(Farms sorted by Net Farm Income)
Average Of Average Of Average Of
All Farms Low 20 % High 20 %
----------- ----------- ------------
Number of Farms 60 13 9
Beginning Ending Beginning Ending Beginning Ending
ASSETS --------- ------- --------- ------- -------- -------
Current Farm Assets
Cash and checking balance 19058 21314 11687 15060 23496 5504
Prepaid expenses & supplies 15007 25009 5711 10835 25457 46858
Growing crops 222 - - - - -
Accounts receivable 10218 17719 6488 13927 13230 52004
Hedging accounts 1201 1145 - - 1783 5935
Crops held for sale or feed 132386 159864 86882 94504 241239 316655
Crops under government loan 10869 792 10169 - 31971 3485
Market livestock held for sale 25 - 115 - - -
Other current assets 4778 5158 - 1453 - -
Total current farm assets 193763 231000 121051 135779 337176 430441
Intermediate Farm Assets
Breeding livestock 392 182 1631 154 256 989
Machinery and equipment 170497 178086 111503 116832 268179 294234
Other intermediate assets 183850 187297 75407 100469 279813 285887
Total intermediate farm assets 354739 365564 188541 217455 548248 581109
Long-Term Farm Assets
Farm land 268673 288275 147333 172095 453122 490566
Buildings and improvements 25020 25389 29553 29184 30478 29072
Other long-term assets 7926 7995 3293 2810 12499 11002
Total long-term farm assets 301620 321659 180180 204089 496099 530641
Total Farm Assets 850122 918224 489772 557322 1381523 1542191
Total Nonfarm Assets 163010 171410 132252 151582 207959 209780
Total Assets 1013132 1089634 622024 708904 1589482 1751971
LIABILITIES
Current Farm Liabilities
Accrued interest 12053 12160 10399 10617 16983 14265
Accounts payable 17071 12259 37797 13680 30987 23622
Current notes 128013 123359 73919 82906 264575 262206
Government crop loans 6968 523 6964 - 25836 3485
Principal due on term debt 40537 43331 19419 28565 75995 88274
Total current farm liabilities 204642 191631 148499 135768 414377 391853
Intermediate Farm Liabilities 158079 171046 81251 119060 238455 248255
Long-term Farm Liabilities 146197 172124 99327 143801 246147 276707
Total Farm Liabilities 508917 534801 329078 398630 898978 916815
Total Nonfarm Liabilities 37958 41094 28308 39318 75927 74023
Total Liabilities 546875 575895 357385 437948 974905 990838
Net Worth (farm and nonfarm) 466257 513739 264638 270955 614577 761133
Net Worth Change 47482 6317 146556
RATIO ANALYSIS
Current Farm Liabilities / Assets 106 % 83 % 123 % 100 % 123 % 91 %
Curr. & Interm Farm Liab / Assets 66 % 61 % 74 % 72 % 74 % 63 %
Long Term Farm Liab. / Assets 48 % 54 % 55 % 70 % 50 % 52 %
Total Liabilities / Assets 54 % 53 % 57 % 62 % 61 % 57 %