2019 FINPACK Annual Update

The 2019 FINPACK annual update is here.  Each year there are enhancements and updates to the FINPACK software.  In 2019, you’ll notice there are some important updates and new features to take note of.  Let’s take a look at What’s New.

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2019 FINPACK Lenders Conference

2019 FINPACK Lenders Conference in Minneapolis, MN - December 11 and 12, 2019

Join us for the FINPACK Lenders Conference at the Radisson Blu Mall of America in Bloomington, Minnesota on December 11 and 12, 2019.

2019 Registration

Attendance at the event will cost $345 per person. Pre-registration is required by Friday, December 6, 2019. Registration cancellations will be refunded until November 29, 2019 and are subject to a $25 processing fee. No refunds will be issued after this date.

You should receive an e-receipt shortly after registering. If you do not receive this email or have changes to your registration, please send a message to katiec@umn.edu.

To register, go to z.umn.edu/2019FPLendersConf


Register Now

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Reminder! FINPACK commercial update webinar.

FINPACK Update Webinar

A recording of this webinar is available on the FINPACK: What’s New site. This can also be accessed at z.umn.edu/finpackcommercial. Topics covered include:

  • Importing and exporting detail in the balance sheet
  • Period end dates in tax forms / income statements
  • Statement of Equity report in the C & I Business Analysis
  • Cash Drivers report in the C & I Business Analysis
  • Opportunity for questions

View the recorded webinar after the event, at your convenience.

Reminder! FINPACK agriculture update webinar.

FINPACK Update Webinar

A recording of this webinar is available on the FINPACK: What’s New site. This can also be accessed at z.umn.edu/finpackag.

Don’t forget, we have our FINPACK for Agriculture 2019 update webinar today! Join us at 12 pm (central time). In today’s webinar, we will review:

  • Accessing legacy cash flow projections.
  • Cash flow projection scorecard.
  • Burn rate calculations in cash flow projections.
  • Importing / exporting balance sheet detail.
  • Period end dates in tax forms and income statements.
  • Energy corrected milk in the FINAN financial analysis.

Join the FINPACK Team live to get your questions answered or view the recorded webinar at your convenience.

FINPACK 2019 Webinars

The FINPACK Team will host two webinars related to what’s new in the 2019 FINPACK annual update. Attend the webinars live or watch the recordings when convenient. You can also learn more about the annual update here.

Webinar #1 – FINPACK for Agriculture 2019 Updates

A recording of this webinar is available on the FINPACK: What’s New site. This can also be accessed directly at z.umn.edu/finpackag.

  • Topic:  Updates to Agricultural credit analysis tools in FINPACK.
  • Description:  We’ve already heard users say, “What, Legacy Projections are gone!?!?” This webinar will touch on all updates to FINPACK for Agriculture for 2019. We will focus on accessing Legacy Cash Flow Projections for viewing and copying into the new Projection tool.  We will also highlight other recent updates to cash flow projections including the financial scorecard and burn rates. In addition, we will look at importing / exporting balance sheet detail; period end dates in tax forms / income statements; and energy corrected milk in FINAN. There will be time to answer user questions as well.

Webinar #2 – FINPACK for Commercial 2019 Updates

  • Topic:  Updates to Commercial credit analysis tools in FINPACK.
  • Description:  This webinar will highlight the other enhancements to FINPACK with the 2019 annual release.  This includes importing and exporting detail in the balance sheet; period end dates in tax forms / income statements; and the Statement of Equity and Cash Drivers reports in C & I Business Analysis. There will be time to answer user questions as well.
  • When:  Wednesday, December 4th, 12 pm (central time).
  • To join go to z.umn.edu/finpackcommercial.

** Simply join the webinars at the designated times. There is no preregistration or password required.

Handling Fluctuating Values of Ag Co-op Stock

Our FINPACK support team recently received this question:

“What is the proper way to handle Ag Co-op stock in a balance sheet in which the stock, such as sugar beets, changes in value from year-to-year?”

With harvest underway and the 2019 analysis soon to follow, we feel it is a good time to clarify the proper way to handle this unique situation. The problem is that this change in market values can have an effect on the analysis in FINAN, especially the net farm income since the accrual adjustments take the value change into account. To avoid this problem, you can do one of the following two options:

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2019 ABA Agricultural Bankers Conference

2019 ABA’s Agricultural Bankers Conference

Make plans to join the FINPACK Team in Dallas at the 2019 ABA National Agricultural Bankers Conference Nov. 10-13.  FINPACK, Farmer Mac, and Dr. Kohl kick off the conference on Sunday afternoon as hosts of the Pre-Conference Seminar titled, “We’re All in the Same Boat – Are You Paddling; Treading; or Bailing Water?”.  This year’s session will focus on what you can do as an ag lender to help customers navigate these challenging times and position your bank to be ready when profitability resurfaces.

Bob Craven will also be hosting a workshop session on Tuesday during the conference titled, “The Numbers and Beyond: Traits of Successful Farms”. Come learn more about the trends we see in FINBIN and how this can apply to your work at the bank.

Don’t forget to join the FINPACK Team as we again host the Grand Opening Reception on Sunday evening.  And, throughout the conference stop and visit our team at the FINPACK booth, located in the Exhibit Hall.  We love to connect with current and potential customers.  While at our booth, get a preview of this year’s FINPACK updates, FINPACK+ developments, and ask those “how do I” questions.

To learn more about the conference and to register visit here.

We look forward to seeing you soon in Dallas!

Did you know?

Like any software, FINPACK has capabilities that users may be unaware of or have forgotten, as they aren’t often used.  We’ll explore some of these options here.

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Upcoming FINPACK Training

The Center for Farm Financial Management is once again offering FINPACK training for agricultural and commercial lenders. The session will take place on October 15-16, 2019.

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Prevented Plant Cash Flow Projections

Challenging production years lead to abnormally high levels of prevented plant acres.  When this occurs, many revisit cash flow projections completed earlier in the year to consider the impact of prevented plant acres, including the addition of cover crop plantings.  The following provides recommendations and considerations when working through cash flow projection updates for prevented plantings.

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