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Southland/South Otago Hill Country Budget

	1999/2000			2000/01f
	$			$
	Whole farm	per ha	per SU	Whole farm	per ha	per SU
Revenue
Sheep	197,104	278	41.18	210,262	296	43.62
Wool	59,284	83	12.39	65,851	93	13.66
Cattle	41,666	59	50.08	54,779	77	60.20
Grazing income		0	0.00		0	0.00
Other farm income	11,715	17	2.09	15,199	21	2,65
Less:
Sheep purchases	3,663	0	0.00	3,663	5	0.76
Cattle purchases	9.992	5	4,40	10,940	15	12.02
Gross Farm Revenue	296,114	417	52.71	331,488	467	57.85
Cash Farm Expenditure	205,277	289	36.54	209,528	295	36.57
(includes interest)
Cash Farm Surplus	90,837	128	16.17	121,960	172	21.28
Stock value adjustment	11,214	16	2.00	13,256	19	2,31
Minus depreciation	20,056	28	3.57	18,779	26	3.28
Net Trading Profit	81,995	115	14.60	116,437	164	20.32
Taxation	11,918	17	2.12	21.100	30	3.68
Net Trading Profit after Tax	70,077	99	12.47	95,337	134	16.64
Allocation of Funds
add back Depreciation	20,056	28	3.57	18,779	26	3.28
Reverse stock value adjustment	-11,214	-16	-2.00	-13,256	-19	-2.31
Drawings	34,292	48	6.10	30,875	43	5.39
Principal repayments	12,832	18	2.28	15,046	21	2.63
Development	1,800	3	0.32	1,915	3	0.33
Capital purchases	18,370	26	3.27	12,000	17	2.09
Disposable Surplus/Deficit	11,625	16	2.07	41,024	58	7.16
Other Cash Sources
New borrowing	0	0	0.00	0	0	0.00
Off-farm income	8,524	12	1.52	5,692	8	0.99
Other cash income	0	0	0.00	0	0	0.00
Net Cash Change	20,149	28	3.59	46,716	66	8.15
Assets and Liabilities
Farm, forest and building (Opening)	1,241,700	1,749	221.02	1,375,200	1,937	240.00
Plant and machinery (Opening)	93,800	132	16.70	91,800	129	16.02
Stock valuation (Opening)	353,500	498	62.92	364,688	514	63.65
Total Farm Capital	1,689,000	2,379	300.64	1,831,688	2,580	319.67
Total Debt Opening	461,417	650	82,13	447,888	631	78.17
Equity (Assets-Liabilities)	1,227,583	1,729	218.51	1,383,800	1,949	241.50

 

	1999/2000			2000/01f
	$			$
	Whole farm	per ha	per SU	Whole farm	per ha	per SU
Farm Working Expenses
Permanent wages	10,000	14	1.78	11,000	15	1.92
Casual wages	2,007	3	0.36	2,900	4	0.51
ACC	684	1	0.12	432	1	0.08
Agricultural contracting	3,060	4	0.54	3,900	5	0.68
Animal health	15,446	22	2.75	15,250	21	2.66
Breeding	1,292	2	0.23	1,400	2	0.24
Electricity	2,550	4	0.45	2,500	4	0.44
Feed (hay & silage)	7,000	10	1.25	6,500	9	1.13
Feed (grazing)	900	1	0.16	900	1	0.16
Feed (other)	2,752	4	0.49	2,750	4	0.48
Farm forestry costs	2,000	3	0.36	1,800	3	0.31
Fertiliser	28,751	40	5.12	32,990	46	5.76
Lime	6,250	9	1.11	5,720	8	1.00
Freight (not elsewhere deducted)	5,800	8	1.03	5,350	8	0.93
Regrassing costs (contractors)	0	0	0.00	0	0	0.00
Seeds	3,820	5	0.68	3,060	4	0.53
Shearing costs	18,100	25	3.78	20,358	29	4,22
Weed & pest control	4,600	6	0.82	5,100	7	0.89
Fuel	7.357	10	1.31	7,200	10	1.26
Vehicle costs (excl fuel)	6,000	8	1.07	6,000	8	1,05
Repairs and maintenance	10,248	14	1.82	10,548	15	1.84
Rates	7,118	10	1.27	7,300	10	1.27
Water charges (irrigation)	0	0	0.00	0	0	0.00
Communication costs (phone & mail)	3,200	5	0.57	3,200	5	0.56
Insurance	3,820	5	0.68	3.800	5	0.66
Accountancy	2,633	4	0.47	2,300	3	0.40
Legal & consultancy	1,242	2	0.22	580	1	0.10
Other admin	4,429	6	0.79	500	1	0.09
Other expenditure	4,460	6	0.79	7,802	11	1.36
Interest	39,758	56	7.08	38,388	54	6.70
Rent &/or leases		0	0.00		0	0.00
Cash Farm Expenditure	205,277	289	37.10	209,528	295	37.24
Calculated Ratios
Cash Farm Exp(excl interest+rent)/GFR	56%			52%
EFS/Total Farm Capital	5%			6%
Interest+rent+lease/GFR	13%			12%
Economic Farm Surplus (or EBIT)	76,863	108	13.68	109,825	155	19.17
Net Trading Profit/GFR	28%			35%
EFS/GFR	26%			33%

Contact for Enquiries

Farm Monitoring Programme Manager
Monitoring and Evaluation
MAF Policy
PO Box 2526
Wellington
NEW ZEALAND
Phone: +64 4 894 0623
Fax: +64 4 894 0741
Contact this person