The Farm Level Income and Policy Simulation Modeling System (FLIPSim) is used to provide policymakers and dairy farmers estimated farm financial impact on the implementation of five field related Best Management Practices (BMP) designed to reduce phosphorus loading in Lake Champlain. Financial performance indicators are derived from deterministic and stochastic FLIPSim analyses for three Vermont dairy farms (60, 150, and 350 cows). Results indicate that residual management and conservation cropping incur the greatest financial impacts. Nutrient management increases income for the large and medium farms. None of the BMP's caused the farms to go out of business. However, the initial declining financial position of the small farm was hastened by the implementation of all BMP's except the row crop field buffer.