NOTES TO FINANCIAL STATEMENTS
1. BUSINESS AND ORGANIZATION
DLB Fixed Income Fund (the "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 - Debt securities, other than short-term obligations, including listed issues, are
valued on the basis of valuations furnished by dealers or by a pricing service, with consideration to factors such as
institutional-size trading in similar groups of securities, yield, quality, coupon rate, maturity, type of issue, trading
characteristics and other market data, without exclusive reliance upon exchange or over-the-counter 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.
Interest income is recorded on the accrual basis. All premium and original issue discount are amortized or
accreted for financial statement and tax reporting purposes as required by federal income tax regulations.
TAXES AND DISTRIBUTIONS - The Fu