Ag Budget Calculator Tutorial 5: Completing a Crop Enterprise Budget and Viewing Reports
Department of Agricultural Economics
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11/03/2020
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Glennis McClure, extension educator, farm and ranch management analyst.
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- [00:00:03.240]Glennis McClure: This is tutorial number five on the agriculture budget calculator.
- [00:00:09.240]Glennis McClure: Developed by the University of Nebraska ag economics department. I'm Glynis McClure extension educator and farm and ranch management analyst and Department of Ag economics.
- [00:00:20.430]Glennis McClure: So we're down to the point where we have entered a budget and enterprise budget according enterprise budget.
- [00:00:28.530]Glennis McClure: So I'm going to scroll on down. And recall that we've been working on this corn dryland no till budget. We've got all of the operations in
- [00:00:39.240]Glennis McClure: We don't need to do any more edits. I could trash the whole thing, but I really don't want to do that, I want to take a look at the reports and show you what we have with the reports. So click there.
- [00:00:52.710]Glennis McClure: And we'll take a look. Oh, one of the things we haven't done yet. We haven't talked much about yet is the revenue because I have no revenue projections. In this particular budget.
- [00:01:01.830]Glennis McClure: So this report page is the main summary page. So I'm going to go ahead, very quickly.
- [00:01:07.680]Glennis McClure: And look over here and say, oh yeah, we've added details, we've added the operations. We've got other expenses in like crop insurance and and
- [00:01:17.370]Glennis McClure: scouting we've got those expenses in but I didn't do anything with revenue. So I'm going to go ahead and click Edit revenue.
- [00:01:25.530]Glennis McClure: And so now this budget, the corn dry line budget comes up. Here's the yield I projected other income, some of this. I'm not going to know until you know it happens later in the year if prices change or if I've got some
- [00:01:41.190]Glennis McClure: Claims on insurance. Some of that revenue would come in later so chances are, oh, let's say I rent out the stalks and I've got a value for the crop residue. I could enter that later on. But for now.
- [00:01:55.290]Glennis McClure: I'm just going to do a projection of my my corn sales per unit
- [00:02:03.060]Glennis McClure: So for now, I'm just going to go ahead and put $4 in one of this is one of the areas that will be enhancing we'll be adding a risk module here pretty soon.
- [00:02:10.500]Glennis McClure: But will also have it so that you can do some pricing like some different months of pricing.
- [00:02:15.810]Glennis McClure: And do this and projections that way. But for now, we've got it sort of static where we're going to go ahead and just enter in like one average price for the year.
- [00:02:23.700]Glennis McClure: And so you can see the total revenue per bushel, that would be $4 if I added some other items in that would change that, of course. Now I've got that in and I'm going to
- [00:02:36.000]Glennis McClure: First to save the revenue data.
- [00:02:39.570]Glennis McClure: Make sure that gets done. Now let's take a look at that report.
- [00:02:45.570]Glennis McClure: Alright, so now you'll see I do have that revenue. And so I had that because pops up what it is per acre.
- [00:02:51.900]Glennis McClure: per bushel, and also total. So these are the columns that we're looking at. So we do have operating costs and so I could click here and say,
- [00:03:00.690]Glennis McClure: Well, if I've got this. This is in red. That means there's a link and I could go and see what details there are behind that.
- [00:03:07.560]Glennis McClure: All right. But here's the total operating costs the net returns above operating costs.
- [00:03:14.130]Glennis McClure: And then cash overhead costs. We have $25 added in from the university is kind of a standard default right now.
- [00:03:22.050]Glennis McClure: One of the things that the ABC program will allow us to do is to reconcile and to do some overhead additions with the whole farm feature. So for now.
- [00:03:32.550]Glennis McClure: That's a work in progress, but we've got this $25 per acre loaded in for this overhead. We refer you remember we entered real estate taxes.
- [00:03:44.910]Glennis McClure: And we didn't have cash rent in this case because we actually own the ground.
- [00:03:49.680]Glennis McClure: So this is our cash overhead. So one of the things that I look at in comparison to what we've done in the past with our university budgets is what's the, what are those cash costs per unit or cash cost per bushel.
- [00:04:03.660]Glennis McClure: And what is that net return above cash costs and then the non cash costs here we've got the depreciation. That was calculated through our use of our power units in our implements
- [00:04:14.730]Glennis McClure: And so we've got that figure what it is per acre and per bushel figured equipment opportunity cost. Again, if I didn't have that investment in equipment and I had that money on
- [00:04:28.410]Glennis McClure: Investment somewhere. What would that return be so. What's the opportunity cost is calculated through the formulas that are in
- [00:04:37.350]Glennis McClure: The program and then land opportunity costs. If you remember, we added a rental value. So if I wasn't farming it myself.
- [00:04:45.780]Glennis McClure: What can I rent that ground for. So that would be the hundred and $75 is what I entered in. There is a land opportunity costs.
- [00:04:53.640]Glennis McClure: So then we have total non cash overhead costs total costs. And again, this is a figure that I look at as well is what was, what is that total cost per unit cash costs appear
- [00:05:09.330]Glennis McClure: $2 and 16 cents and $3 and 46 cents. As far as a total Costs. So the net returns projected
- [00:05:17.580]Glennis McClure: Is 54 cents a bushel. Alright, so that's a nice summary report that will use quite a bit, and then
- [00:05:24.660]Glennis McClure: We've got below here some other detailed reports so to expand those just click on the the arrow key there. So we can see here of what we have for operation costs.
- [00:05:36.960]Glennis McClure: In a nice little report here. I really like to use this
- [00:05:44.340]Glennis McClure: Item here to take a look at what in that particular burned down operation. What was I figuring. What was the percentage of acres applied the quantity of those that material costs and so on. And what was that
- [00:05:58.890]Glennis McClure: Total per acre application. So here I've got that burn down. I've got the fertilizer application. We did put some more fertilizer in with the with the planting on down the line.
- [00:06:13.350]Glennis McClure: So that's a really nice report, I can keep going on. I really like to also take a look at this. I like to say, okay, so what was, what would be the cost per acre.
- [00:06:23.970]Glennis McClure: Labor fuel repairs depreciation opportunity cost of all of different operations. So you can see that report is just a really nice report.
- [00:06:34.170]Glennis McClure: To give you an idea of again with those with those operations are costing you per acre.
- [00:06:40.230]Glennis McClure: Alright, so then we have a materials and inputs by category. So here's where the cumulative of the pesticides. The herbicides, the fertilizer, you know, would come into play.
- [00:06:51.540]Glennis McClure: Other operation expenses. This was the crop insurance. What else crop scouting we had some drying costs in this budget and so on. And then I could also look at revenue details.
- [00:07:04.230]Glennis McClure: So we can expand all those reports out and have some detail or we can collapse some backup.
- [00:07:10.650]Glennis McClure: So now I would I like to do is if I was going to print. Now, there would be quite a bit of print here several pages. But if I wanted to print all this at this point in time, I've got all those things open, maybe I don't really need to have that when open. I don't need to have
- [00:07:28.530]Glennis McClure: That particular one open. Alright, so if I just did a right click on my mouse. I have that print feature come up. So I could
- [00:07:37.680]Glennis McClure: could call that up. And then, of course, say what you can take a look at what what is in queue to print and decide which pages you want to print after all there. So that is the report feature.
- [00:07:51.810]Glennis McClure: And where we have it right now, within the program so we can. It tells us here again, titled What we titled it, how many acres. How many what was our projected yield is in that report.
- [00:08:03.960]Glennis McClure: So that is tutorial five and we'll be adding more tutorials. As we add additional features on to the ag budget calculator. But for now, that's where we are with our tutorials. Thanks again for joining us. Let us know if you have questions.
- [00:08:21.090]Glennis McClure: And comments about where we're at with the ABC program. Thanks again.
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