The Gardner Agriculture Policy Program at the University of Illinois has introduced a comprehensive tool for farm income, economics, and policy analysis. The Gardner Farm Income and Policy Simulator (GFIPS) project simulates future farm financial performance using a starting set of farm characteristics and financial data.
Krista Swanson, a U of I research specialist, wants farmers to visualize their financial health.
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URBANA – The Gardner Agriculture Policy Program at the University of Illinois has introduced a comprehensive tool for farm income, economics, and policy analysis. The Gardner Farm Income and Policy Simulator (GFIPS) project simulates future farm financial performance using a starting set of farm characteristics and financial data.
Krista Swanson, a U of I research specialist, wants farmers to visualize their financial health.
“The GFIPS is not meant to predict the future,” she explains. “It’s a tool for benchmarking and looking at financial and policy scenarios.”
GFIPS generates a set of financial statements over a five-year projection period. The financial statements, including a balance sheet, income statement, cash flow, and debt capital repayment report, can be used to evaluate financial health, risk and performance.