Financial statements
| Done | Document | Where to find it |
|---|
| Financial statements for the last three years (profit and loss, balance sheet) for every entity | Your accountant |
| Tax returns for the last three years for every entity | Your accountant |
| Management accounts for the current year to date | Xero, MYOB or your bookkeeper |
The year ahead
| Done | Document | Where to find it |
|---|
| Budget for the coming year by enterprise, with the price and production assumptions written down | You, or Farm CFO |
| Monthly cashflow forecast through to your next review, showing the overdraft limit | You, or Farm CFO |
| A poor season or price test of the budget | You, or Farm CFO |
Debts and assets
| Done | Document | Where to find it |
|---|
| Debt schedule covering every lender, including equipment finance, RIC and family loans | Loan statements and facility letters |
| Statement of assets and liabilities at market value | You, valuations and recent sales |
| Livestock numbers by class at 30 June | Your livestock reconciliation or herd records |
| Grain and fodder on hand | Your stock records |
Tax and compliance
| Done | Document | Where to find it |
|---|
| ATO statement showing BAS and tax lodgements are up to date, or an agreed payment plan | ATO online services or your accountant |
| Insurance schedule (farm, plant, livestock where insured) | Your insurer or broker |
| Current council rates notices | Your council |
Property and operations
| Done | Document | Where to find it |
|---|
| Leases, share farming and agistment agreements | Your files or solicitor |
| Water entitlements and allocations, where you hold them | WaterNSW or your state's register |
| A list of changes since the last review: land bought or sold, new machinery, changes in stock numbers or enterprise mix | You |
People
| Done | Document | Where to find it |
|---|
| Personal statement of assets and liabilities for each guarantor and director | Each guarantor |
| Any changes in ownership, partners or succession plans | You and your solicitor |
Covering note
| Done | Document | Where to find it |
|---|
| A two-page summary of last year, the plan for this year, the risks and what you would do about them | You, or Farm CFO |
General information only. Lenders differ in what they ask for. Farm CFO is a business name of Levelhead Capital Pty Ltd (ABN 15 703 134 918). farmcfo.com.au · 0412 759 847
Want the pack prepared for you?
A Bank Review Pack covers the budget, the monthly cashflow, the tests the credit team will run and the covering note, for $1,850 + GST.
farmcfo.com.au · 0412 759 847