NOTES TO FINANCIAL STATEMENTS
1. BUSINESS AND ORGANIZATION
DLB Core Growth Fund (the "Fund"), formerly known as DLB Growth Fund, is a non-diversified series of The
DLB Fund Group (the "Trust"), a Massachusetts business trust. The Trust is registered under the Investment
Company Act of 1940, as amended, as an open-end management investment company.
2. SIGNIFICANT ACCOUNTING POLICIES
INVESTMENT VALUATION - Equity securities listed on securities exchanges or reported through the
NASDAQ system are valued at last sale prices. Unlisted equity securities or listed equity securities for which last
sale prices are not available are valued at last quoted bid prices. Securities for which there are no such quotations
or valuations are valued at fair value as determined in good faith by or at the direction of the Trustees. Short-term
obligations, which mature in 60 days or less, are valued at amortized cost, which approximates market value.
REPURCHASE AGREEMENTS - Securities purchased under agreements to resell to the original owner are
recorded at cost. The Fund may enter into such agreements with institutions that the Fund's investment adviser
has determined to be creditworthy. The Fund requires that the securities collateral in a repurchase transaction be
transferred to the custodian under terms that enable the Fund to obtain such securities in the event of a default.
The Fund monitors, on a daily basis, the value of the securities to ensure that such value, including accrued
interest, is greater than amounts owed to the Fund.
INVESTMENT TRANSACTIONS AND INCOME - Investment transactions are recorded on the trade date.
Dividend income is recorded on the ex-dividend date. Dividend payments received in additional securities are
recorded in an amount equal to the value of the securities. Interest income is recorded on the accrual basis.
TAXES AND DISTRIBUTIONS - The Fund's policy is to comply with the provisions of the Internal Revenue
Code (the "Code") applicable to regulated investment companies a