Financial Consultant Services

The vendor is required to provide financial consultant will conduct a site visit, inventory all the farmer’s assets, create financial statements of the farming operation, develop a recovery plan for the purpose of reaching a financial arrangement between the farmer and their creditor(s), and attend mediation meeting(s).
- Requirement:
•    A review of any information that may be provided by the farm debt mediation service (FDMS) administrator. 
•    An analysis of the farmer’s operation and financial situation including but not limited to production systems, farm and other assets, supplier arrangements and payables, creditor arrangements, and marketing arrangements and payables. 
•    This includes a physical onsite inspection of the farm and major assets. 
•    During a farm site visit, if the case is under a 5(1)(a) stay of proceedings, the financial consultant will present the guardian directives to the farmer including the guardian’s report. 
•    The financial consultant is required to contact all creditors of a farmer to determine the current balance owing, the amount of arrears and accrued interest, the security held, payment schedule, and any other pertinent information. 
•    Any outstanding issues between the farmer and creditor(s) that might be addressed through the mediation must also be identified. 
•    The financial consultant is required to confirm with all creditors if they intend to participate to the meeting in-person or virtually, who will attend the mediation meeting on their behalf and provide an updated creditor list with that information to the FDMS at least 10 days before the mediation meeting. 
•    The financial consultant is required to review credit verification searches where applicable. 
•    Income tax returns for the past two years must be obtained from the farmer as well as any other relevant financial statements. 
•    Both supplier and marketing arrangements and options will be examined
•    Production records must be reviewed, and the physical premises and operation must be inspected. 
•    The financial consultant must assess and determine the current value of any assets, prepare a balance sheet and income statement for the last two years, and identify projected losses or potential gains. 
•    A cash flow projection and income statement for the next two years must also be prepared, and any projected cash flow shortfall or potential gain must be identified. 
•    the financial consultant must prepare a written report, on completion of each individual FDMS case, in the language required by the FDMS administrator.
•    The financial consultant will be required to develop a recovery plan as defined by the FDMS administrator; unless a mediation meeting will not be scheduled.
•    The financial consultant responsible for the recovery plan will be required to attend the mediation meeting(s), provide a verbal summary of their report, and further assist the mediation as determined by the FDMS administrator. 
•    The financial consultant will be required to use the department -provided laptop in the execution of the work. 
•    The financial consultant will be required to independently operate department specified software and technology. 
•    This includes m365, more specifically, outlook and teams. 
•    Only department approved software is permitted for use in the performance of their duties.

- Contract Period/Term: 3 years