Recently, I had the pleasure of attending the state FFA convention in New York. Over 1,400 blue jackets visibly dotted the campus of the State University of New York at Morrisville. During the convention, former state officers were recognized, which is quite an inspirational tradition. That evening, six former state officers, including yours truly, were asked to conduct the opening ceremonies for the convention. This was a particularly special occasion as I was able to connect with former state president and national officer Dick Jones, whom I had known during our doctorate work at Cornell University.

We both knew this was an important opportunity as official ceremonies are a source of pride and tradition for all FFA members. Of course, both Dick and I wanted to conduct the ceremonies as professionally as possible, especially with such a large gathering of dedicated and attentive future leaders, but memorizing and then reciting our parts was more challenging than we remembered. Each FFA officer has a specific duty and station during ceremonies, and each represents an important connection with U.S. history and agricultural and FFA principles. For example, the state FFA president is “stationed by the rising sun,” while the state vice president is “stationed by the plow.” At the ceremonies, I delivered the FFA Treasurer’s report, and was “stationed at the emblem of Washington.”

As I recited the ceremonial words and sentences, I thought about their significance and meaning for today’s businesses. For example, the opening sentence for the FFA treasurer states, “I keep a record of receipts and disbursements just as Washington kept his farm records – carefully and accurately.”

In working with today’s agribusinesses, farmers and ranchers, I find that one of the variables common among producers still generating a profit is good financial records. Yes, the foundation of their success is detailed and accurate financials. To illustrate, these producers and managers know at any point in time where the business stands financially. They can quickly respond to the break-even cost of production with various enterprises and the business components. In addition, they make a practice of benchmarking with peers for comparison and improvement.

The next sentence of the treasurer’s recited words continues, “I encourage thrift among the members and strive to build up our financial standing through savings and investment.”

Again, there is a correlation to successful businesses as most top-level producers tend to be thrifty, allocating their time and resources to maximize their return on investment. The top group of today’s managers and producers also tend to save and invest for immediate as well as long-term objectives. Additionally, they save some investments and liquid assets for the unexpected. In balance, however, they also take opportunities to invest in productive assets and overall business sustainability. It is common to see a bit of sacrifice among this group such as modest living costs and practical capital expenditures.

The FFA Treasurer pledge concludes, “George Washington was better able to serve his country because he was financially independent.”

One’s management of money, whether individually or as a government, often dictates the level of flexibility and available options or alternatives. For example, high levels of debt, inflated expenses or an insufficient financial cushion each reduce one’s degree of financial freedom.

In conclusion, conducting this opening ceremony reminded me how important the treasurer’s commitment is not only to FFA, but in everyday decisions for each of us, professionally and personally. It does seem that some of the lessons we learn early on are among the most important.