Extension Ag Economist- KFMA NW Colby

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rExtension Ag Economist- KFMA NW Colby

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rGeneral Description of Position:

Extension Agricultural Economist, Kansas Farm Management Association,
Northwest

The Kansas Farm Management Association (KFMA) Northwest is seeking
applicants to fill the role of an Extension Agricultural Economist. The
responsibilities of an Extension Agricultural Economist are varied but
center around providing education and consultation to KFMA member farms
in the area of farm business management. KFMA Economists strive to
provide cooperating farms with resources to make informed financial,
production, and tax management decisions.

KFMA NW works with farm families in a 17-county area. Principal crops
are wheat, corn and grain sorghum. Livestock enterprises in NW Kansas
are primarily focused on beef production. Average farm size is 4,000
crop acres.

LOCATION: Colby, Kansas

Information about Kansas Farm Management Association:

KFMA Vision:

The Kansas Farm Management Association (KFMA), through its affiliation
with K-State Research and Extension, will be the valued and trusted
provider of integrated data management systems to apply critical
thinking and strategic business planning for farm and ranch decision
makers; and will be the premier source of farm-level economic data in
the world.

KFMA Mission and Purpose:

– To work as an efficient team of economists, serving on the
management team for KFMA member farms, as a farm business management
resource
– To provide high quality and timely farm recordkeeping, financial
analysis and tax management
– To achieve the goal of improved farm and family decision making,
resulting in increased farm profitability and sustainability

Diversity and Inclusion:

Kansas State University embraces diversity and promotes inclusion in
every sector of the institution. The university actively seeks
candidates whose commitments and contributions will advance the
Universitys commitment to the [Principles of
Community.](https://apptrkr.com/getredirect.php?id=5693278&targetURL=https://www.k-state.edu/about/community.html){target=”blank”}

Responsibilities:

The foundation of the KFMA program is providing education and
consultation to member farms in the area of farm business management.
KFMA Economists strive to provide cooperating farms with resources to
make informed financial, production, and tax management decisions. In
order to achieve this goal, an Extension Agricultural Economist is
expected to:

1. Develop and maintain a relationship with membership of approximately
70-80 cooperating commercial farms
2. Assist cooperating farms with development of a comprehensive and
accurate accounting of the farm. Complete records are the essential
foundation of all KFMA services provided
3. Provide KFMA members with:

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1. – Regular, scheduled on-farm visits each year (at times requiring
extensive travel within the association)
– An annual accrual whole-farm business analysis utilizing KFMA
software to collect and process information
– An annual economic analysis of farm enterprises
– Benchmarks of farm performance in comparison to similar farms
and/or industry standards
– Guidance based on interpretation of whole-farm, enterprise, and
benchmark analysis
– Guidance and recommendations in estate planning, farm succession
planning, and business entity structure

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1. Learn and understand federal and state income tax regulations as
they apply to farm businesses. This includes significant time spent
working with members on:

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1. – Tax implications of farm business management decisions
– Year-end tax planning and management
– Preliminary income tax related work for KFMA NW members
– Final income tax filing as an employee of Northwest Kansas
Agricultural Tax Services, Inc. (with consulting leave time
taken from Extension Agricultural Economist position)

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1. Collect, process, and verify financial and production information
from cooperating farms to be utilized by K-State Research and
Extension for research, teaching, and other Extension programs
2. Market and promote KFMA by supporting county, area, and state
Extension personnel with technical expertise in the area of farm
business and farm income tax management
3. Participate in continuing education to expand farm income tax and
farm management technical skills

Required Minimum Qualifications:

Bachelors degree in Agricultural Economics, Agribusiness, Agricultural
Education, Accounting, Finance or related field

Minimum GPA of 3.0 (on a 4.0 scale) in all college coursework

Minimum of 6 hours of coursework in accounting

Ability to effectively communicate with individuals and groups

Evidence of solid planning, prioritization and organizational skills

Good understanding of product