Understanding A Dairy’s Finances

Registration is now open for the 2022-23 sessions of PDPW Financial Literacy for Dairy. This is the only financial-development program designed specifically for the dairy industry.

It aims to provide dairy farmers, veterinarians, nutritionists and other agribusiness professionals a solid financial understanding and foundation of their businesses, then stretch their thinking to broader concepts.

“There are so many things out of our control in today’s fast-paced dairy industry, it’s critical that we dairy farmers and business owners have a strong understanding of our operation’s numbers and are able to use financial data to make decisions,” says Katy Schultz, a dairy producer and PDPW board president from Fox Lake. “PDPW’s Financial Literacy for Dairy provides an essential foundation as well as a number of financial tools that we can tailor to the specific needs of our business and team.”

Three levels of training are provided, with participants completing an online assessment at registration to determine the course level best suited to them.

Level One will be taught by dairy financial experts Gary Sipiorski, an ag business and financial consultant, and UW-Platteville Agribusiness Prof. Kevin Bernhardt. This level will focus on core financial concepts, such as the balance sheet, cash income statement and cash flow budgeting to set the stage for more practical application. It’ll also show the implications for improved business management as well as more effective lender relationships.

Level Two will also be facilitated by Sipiorski and Bernhardt, as they lead participants to broader concepts and provide a deeper look at more comprehensive financial tools and reporting methods, including ratios and analyses.

Level Three is led by Dick Wittman of Wittman Consulting. It’ll cover advanced concepts in several core areas, including the use of budgeting tools for planning and performance monitoring, trend analysis, strategies for optimizing capital purchases, managing family business investment capital and more.

All classes will be held at PDPW Headquarters in Juneau, with space limited to 30 attendees per level.

Sessions are scheduled for:

Level One – Nov. 9-10 and Dec. 14-15, 2022
Level Two – Jan. 18-19, 2023; Feb. 8-9, 2023 and Mar. 1-2, 2023
Level Three – Mar. 22-23, 2023

The “Count on Us” program is available through several partner lenders, financial institutions and consultants who are willing to provide partial scholarships to dairy producers participating in the PDPW Financial Literacy for Dairy program. Class attendees will pay the training program fee to PDPW upon registration, then consult with their “Count on Us” partners to determine the scholarship amount. A full list of participating partners is available on the PDPW website.

To register, visit www.pdpw.org or contact PDPW at 800-947-7379.