Holland Balanced Fund - NOTES TO FINANCIAL STATEMENTS
September 30, 2000
The Holland Series Fund, Inc. (the "Company") was organized as a Maryland corporation on June 26, 1995 and
is registered under the Investment Company Act of 1940, as amended, as an open-end, management investment
company. The Company currently has one portfolio, the Holland Balanced Fund (the "Fund").
The Fund is designed to provide investors with a convenient and professionally managed vehicle for seeking a
high total investment return. Total investment return is the aggregate of dividend and interest income and realized
and unrealized capital gains/losses on investments. The Fund seeks to achieve its objective through a combined
portfolio of equity and investment grade fixed-income securities.
2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
The preparation of financial statements in conformity with generally accepted accounting principles requires
management to make estimates and assumptions that affect the reported amounts and disclosures in the financial
statements. Actual results could differ from those estimates.
Securities transactions are accounted for as of the trade date. Interest income and expenses are recorded on an
accrual basis. The Fund amortizes discount or premium using the yield-to-maturity method on a daily basis,
except for securities having a maturity date of sixty days or less at the time of acquisition which are amortized on
a straight-line basis. Dividend income is recorded on the ex-dividend date. The Fund uses the specific
identification method for determining gain or loss on sales of securities.
There is no provision for federal income or excise tax since the Fund continues to qualify as a regulated
investment company ("RIC") and intends to comply with the requirements of Subchapter M of the Internal
Revenue Code applicable to RICs and to distribute substantially all of its taxable income and realized gains.