Extension Ag Economist- KFMA NW Colby

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

Responsibilities:

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:

• 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

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

• 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)

5. 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

6. 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

7. Participate in continuing education to expand farm income tax and farm management technical skills

Required Minimum Qualifications:

• Bachelor's 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 production agriculture
• Ability to effectively utilize computer technology, software and applications
• Demonstrated expertise in understanding and communicating sound farm accounting principles and economic relationships in agriculture
• Strong attention to detail and the ability to maintain strict confidentiality
• Self-discipline to work independently, and flexibility to work as part of a team
• Ability to handle a workload that varies depending on the time of year (heavy workload required November-April)

Preferred Qualifications:

• Master's degree in Agricultural Economics, Agribusiness, Accounting or related field

Or

• Acceptable performance in a position in Agricultural Economics, Agribusiness, Agricultural Education, Accounting, Finance or related field.
• Tax-related accounting coursework
• Farm income-tax preparation experience

Applicants who meet the required qualifications, but do not meet the preferred qualifications for this position may be considered for an Associate Extension Agricultural Economist position with KFMA, NW. An Associate position is expected to successfully develop the skills and knowledge required for the position of Extension Agricultural Economist while providing support to the Extension Agricultural Economists working in the association. The position is designed to lead into an Extension Agricultural Economist position with KFMA NW within two years if all objectives are met, based on regular evaluations during the training period.

Specific responsibilities during the training period include:

1. Become proficient in farm record keeping systems used within the association (QuickBooks or manual record book)

2. Learn to efficiently use proprietary programs and spreadsheets for farm economic analysis and income tax planning (K-MAR-105 Analysis System, K-MAR-105 Depreciation, and Microsoft Excel)

4. Develop an understanding of agricultural accounting, estate planning, business entity structure, and income tax management as they apply to farm businesses

5. Learn KFMA NW procedures to collect, process, and verify information from member farm businesses in order to complete a whole farm and enterprise analysis

6. Complete requirements to achieve IRS Enrolled Agent status

7. Provide support to KFMA NW Extension Agricultural Economists as they deliver economic analysis and technical expertise to KFMA member farm businesses

8. Develop skills necessary to complete tax forms 1096/1099, W-2/W-3, 1040, 1065, 1120, and 1120S through Northwest Kansas Agricultural Tax Service, Inc (Consulting Leave days taken from Extension position to complete final tax preparation)

Special Instructions to Applicants:

Applicant must upload a letter of application, resume including contact information for three professional references (Each reference will be asked to upload a letter of support for the applicant), and official transcripts of all college coursework (including transfer courses). Applicants must be currently authorized to work in the United States at the time of employment.

Screening of Applications Begins:

Screening of applications will begin immediately, and will continue until the position is filled. The starting date is negotiable with the KFMA, NW Board of Directors and KFMA Executive Director.

Salary Range/ Pay Rate:

Commensurate with training and experience as negotiated by the Department of Agricultural Economics, Kansas State University; the Board of Directors of Kansas Farm Management Association, Northwest; and the applicant.

Benefits:

This is an unclassified position in the Department of Agricultural Economics, Kansas State University. The K-State benefit package includes a retirement plan, group health and life insurance, worker's compensation, vacation, sick leave and other benefits. For additional information on benefits, see http://www.k-state.edu/hcs/benefits/overview/.

Travel:

Travel, which will be required for this position, is primarily within the KFMA NW association area but may occasionally involve overnight travel to other areas of Kansas. Reimbursement for travel and subsistence related to achieving program objectives including either use of an association provided vehicle or mileage reimbursement will be provided.

For more information:

Contact Kellen L. Liebsch, Associate Director, Kansas Farm Management Association Program.

Office: (785) 539-0373; E-mail: kellen@ksu.edu The KFMA program website is www.AgManager.info/KFMA