Farm Financial Standards Council holds meetingJim Kelm, principal at Kelm Mangement, Red Wing, Minn., was elected to a second term as president of the Farm Financial Standards Council at the organization’s recent annual conference held at Billings, Mont.

In addressing those attending the conference, Kelm noted that “the council has never been as busy as it is right now with new education programs being launched and opening itself to a new membership program.” He said he is also concerned about problems returning to U.S. agriculture because of years of prosperity and lack of attention to financial record keeping and planning. “The role of the council is to provide the tools necessary for farmers, ranchers, their lenders and their financial and tax advisors to be able to make sound production and management decisions based on solid financial records.”

He noted that the Council came to be because of the farm crisis of the 1980s. The two documents produced by the council are the “Financial Guidelines for Agriculture” and “Management Accounting Guidelines for Agriculture.” Both documents are updated on a regular schedule and are available online through the council’s website at www.ffsc.org.

Joining Kelm on the leadership team of the council, through the council’s next annual conference in late July 2015, are Paul Neiffer, principal with CliftonLarsonAllen, Yakima, Wash., as vice president. Neiffer had previously served as the organization’s secretary/treasurer. Coming on as secretary/treasurer of the group is Stephen Severe, chief financial officer at Padlock Ranch, Manchester, Wyo.