NCTC FBM - Moorhead
BALANCE SHEET AT MARKET 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 250264 258287 171901 180626 366981 398229
Other intermediate assets 292737 290291 111979 134259 467421 472264
Total intermediate farm assets 543393 548760 285511 315039 834658 871481
Long-Term Farm Assets
Farm land 306041 328235 166408 191169 473724 514450
Buildings and improvements 32567 33677 32711 32711 37534 37534
Other long-term assets 10066 10176 3447 2964 26539 25318
Total long-term farm assets 348674 372088 202566 226844 537797 577302
Total Farm Assets 1085830 1151849 609128 677662 1709631 1879225
Total Nonfarm Assets 182871 198181 158565 177818 224405 233833
Total Assets 1268701 1350029 767693 855480 1934036 2113058
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 Deferred Liabilities 128329 143062 61555 77024 190220 247394
Total Liabilities 675204 718957 418941 514972 1165125 1238232
Net Worth (farm and nonfarm) 593497 631073 348752 340508 768911 874826
Net Worth Change 37576 -8244 105915
RATIO ANALYSIS
Current Farm Liabilities / Assets 106 % 83 % 123 % 100 % 123 % 91 %
Curr. & Interm Farm Liab. / Assets 49 % 47 % 57 % 57 % 56 % 49 %
Long Term Farm Liabilities / Assets 42 % 46 % 49 % 63 % 46 % 48 %
Total Liabilities / Assets 53 % 53 % 55 % 60 % 60 % 59 %