Summary Reports

Summary Reports

Once Agri-Analytics have completed their analysis of your data we produce a Summary Report for each grower, please see example below.  These are produced at the end of the growing season, and issued the week of 1 December 2019.  While this might seem late in the year we do need to prioritise our workload during our peak period to ensure we complete our analysis for each grower.

If you would like to receive your Summary Report earlier we recommend you complete early data collection.  Growers who submit their data before 30 April 2019 will receive their Audit Summary Report when our analysis of their file is completed.  They will also be given the opportunity to discuss and review their analysis with Agri-Analytics before their Latevo Policy Schedule is issued.

Benchmarking Reports

In addition to the individual grower Summary reports, we will also provide each grower with a Benchmarking report. This report will provide each grower with a comparison of their farm to the Latevo group average and high performers (top quartile) and a water use efficiency measure. The Benchmarking reports will be issued the week of 1 December 2019 for all growers.

Example of an Agri-Analytics Summary Report

Audit Summary File Example 2018 - Jones Farm Pty Ltd

Supporting Documentation for Partnerships & Trusts

If the farm business applying for a RIC loan is a Partnership or Trust you will need to provide originals or certified copies of supporting documentation as listed below.

What type of documents?

For Partnerships (one of the following):
a partnership agreement; or
the partnership tax return; or
the minutes of a meeting of the partnership
For Trusts:
a full trust deed and any amending supplementary deed (executed and dated); and
the full name of the settlor of the trust (only if the asset contribution at establishment is $10,000 or more)

Certified Copy

Evidence of Australian citizenship or permanent residency needs to be a copy of the relevant documentation that has been certified as true and correct by an Acceptable Referee:

Cash Flow Budget

As part of your RIC loan application you will need to provide copies of your actual and projected budget cash flows.  To guide you as to what information RIC will need they have provide a downloadable template on their webiste.  Click here to download the template.

Actual Cash Flows – Current Financial Year

Your financial year-to-date actual results and a cash flow budget projection for the remainder of the current financial year.

Projected Cash Flows – Next Financial Year

Your cash flow budget projection for the next financial year.  If, as part of your application, you are forecasting a ‘significant financial impact’ over a 2 year period, you will need to include a budget for the applicable period.

Identification Requirements

As part of your RIC loan application you will need to be able to provide documentary evidence (proof) of the identity of all the individuals associated with your farm business. This includes:

Verifying your identity

The acceptable identification must contain the individuals full name and either residential address or date of birth.  The acceptable identification documents comprise:

Certified Copy

A certified copy of identification is one that has been certified as true and correct by an Acceptable Referee:

Citizenship / Permanent Residency Requirement

At least one member of the farm business applying for a RIC loan must be an Australian citizen or have Australian Permanent Residency.

As part of your RIC loan application, you will need to provide evidence (proof) of Australian citizenship or permanent residency for that member of your farm business. We will ask you to upload copies of the certified documents to our secure form.

What type of documents?

Certified Copy

Evidence of Australian citizenship or permanent residency needs to be a copy of the relevant documentation that has been certified as true and correct by an Acceptable Referee:

A Season Update client is a farming entity that has previously had Latevo Farm Income Protection and has completed a Latevo Income Assessment.

If you are unsure if you are a Season Update client please contact Latevo or your broker for assistance.

A New Client is a farming entity that has not previously taken out Latevo Farm Income Protection or has never had a Latevo Income Assessement.

If you are unsure if you are have ever had a Latevo Income Assessment please contact Latevo or your broker for assistance.

Please ensure the cashbooks files are a detailed general ledger (transaction) by category report preferably in pdf format from your accounting software.  There should be an individual file for each financial year.

Do not provide summary files, we are specifically looking at your grain sales transactions and a summary file will not provide this detail.

If you would prefer not to provide your full cashbooks please ensure you provide your detailed grain transactions and any associated transactions such as share farming.