Checkoff funds are used in the areas of Promotion, Research, Consumer Information, Industry Information, Foreign Marketing and Producer Communications. According to the Beef Promotion and Research Act and the Beef Promotion and Research Order, funds cannot be used to influence government policy or action. This means no lobbying and no stance on possible political actions or laws. On a yearly basis, an independent auditing firm audits the financial statements of the Cattlemen’s Beef Promotion and Research Board. The auditing firm’s responsibility is to express an opinion on the financial statements. The contract for this firm is renewed each year, voted on by producers on the Budget and Audit Committee. Click here to review the FY19 CBB Audited Financials.
Frequently Asked Questions
How are Beef Checkoff Funds Distributed?
By law, only beef industry governed organizations who have been in existence for more than two years may apply for Beef Checkoff funding. These organizations are called Checkoff contractors. Every contractor must apply for Checkoff funds annually through proposals called Authorization Requests. These requests are vetted through large, producer-led committees throughout the year. The Beef Promotion Operating Committee, a 20-member producer body, ultimately makes the funding decisions for contractors every September for the following fiscal year. Contractors to the Beef Checkoff are reimbursed for their work on a cost-recovery basis after a full review of their expenses through the internal financial controls at the Cattlemen’s Beef Board. Approved Checkoff funding for contractors is mapped out in Authorization Requests by budget category, as approved by the Beef Promotion Operating Committee. Read the Authorization Requests.
What Projects are Funded by the Beef Checkoff?
The Cattlemen’s Beef Board created The Drive, an email, print and online information source for producers about every aspect of the Checkoff. Sign up for a complimentary subscription to The Drive. The board also releases an Annual Report showcasing Checkoff goals, program results, beef board members and financials. Read the annual report. Timely updates are also shared on Beef Checkoff social channels.
Where Can I Find the Annual Audited Financials?
By law, the Cattlemen’s Beef Board is required to provide the annual audited financials to the public. On a yearly basis, an independent auditing firm audits the financial statements of the Cattlemen’s Beef Promotion and Research Board. The auditing firm’s responsibility is to express an opinion on the financial statements. The contract for this firm is renewed each year, voted on by producers on the Budget and Audit Committee. Read the Annual Audited Financials.
See additional resources on the finance tab.