As a cooperative effort between member farms and the University of Kentucky, Department of Agricultural Economics, the Kentucky Farm Business Management (KFBM) Program provides a financial records-based information system to assist Kentucky farmers in best utilizing their resources to accomplish their goals and objectives.
Program members receive one-on-one consultations and a broad range of financial planning and analysis services from their regional Specialist throughout the year while the University gains real-world data from operations across the commonwealth to inform and guide efforts and decisions across areas of research, extension, and teaching.
Based in several office locations across the state, our program's specialists and staff cover 87 counties divided into four regions - Purchase, Pennyroyal, Ohio Valley, and Lincoln Trail.
As an Extension program of the University of Kentucky, the KFBM program's Specialists and staff work with member farms to provide financial planning, economic analysis, comparative benchmarking, financial statement generation, etc. through personal, one-on-one consultations, both in the office and via farm visits.Explore Membership Benefits
Specialists and staff engage with and educate community leaders, Extension colleagues, program members, and the general public through Extension programs and presentations at Extension agent trainings, lenders conferences, UK Income Tax Program seminars, local meetings, national conferences, etc.Learn More
Our Program Coordinator and Specialists use real-world data and experiences from member farms as they collaborate with faculty and staff from the Agricultural Economics Department and UK's Martin-Gatton College of Agriculture, Food, and Environment to guide Extension programming and champion the needs of farmers.
Our Newest Resources
What to Consider When Renting Out Your Farm
According to 2022 KFBM data, only 27% of land farmed by Kentucky farmers is owned by the farmer. The remaining 73% is typically comprised of landowners that may or may not have a background in farming. In some cases, the landowner inherited the farm and may not even live in the same state as the farmland. There are several factors the landowners need to be aware of and consider when renting their farm.Read Article
Depreciation Changes 2023
It is important to understand the challenges facing tax preparers when it comes to accelerated depreciation and equipment purchases with trade-ins. The Tax Cuts and Jobs Act (TCJA) passed in 2018 had three significant changes to capital purchases and trade-ins.Read Article
In the News
Kentucky grain farms unraveling the 2022 financial landscape
The agricultural industry is no stranger to farm income fluctuations. Since 1962, the Kentucky Farm Business Management program has closely monitored grain farm income trends. Their recent analysis indicates notable shifts in net farm income and financial standing, with 2022 presenting both challenges and opportunities for farmers.Continue Reading
Powers elected president of national association
University of Kentucky’s Laura Powers was named president of the board of directors of the National Association of Farm Business Analysis Specialists during their recent conference. The association’s membership represents...Continue Reading
UK to host regional conferences for ag lenders
Navigating the ever-changing agricultural markets is not an easy task. To help local lenders feel more confident in their investments for the upcoming growing season, the University of Kentucky hosts a series of regional conferences each fall and winter...Continue Reading