Note 1. Accounting Policies
The following is a summary of significant accounting policies followed by the Fund in the preparation of its
Securities Valuation: Securities for which market quotations are readily available--including securities listed on
national securities exchanges and those traded over-the-counter--are valued at the last quoted sales price on the
valuation date on which the security is traded. If such securities were not traded on the valuation date, but market
quotations are readily available, they are valued at the most recently quoted bid price provided by an independent
pricing service or by principal market makers. Securities for which market quotations are not readily available will
be valued at fair value as determined in good faith according to pricing procedures developed by the Investment
Adviser and approved by the Board of Directors.
Short-term securities which mature in more than 60 days are valued at current market quotations. Short-term
securities which mature in 60 days or less are valued at amortized cost.
In connection with repurchase agreement transactions with financial institutions, it is the Fund's policy that its
custodian take possession of the underlying collateral securities, the value of which exceeds the principal amount
of the repurchase transaction, including accrued interest. If the seller defaults, and the value of the collateral
declines or if bankruptcy proceedings are commenced with respect to the seller of the security, realization of the
collateral by the Fund may be delayed or limited.
Cash Flow Information: The Fund invests in securities and pays dividends from net investment income and
distributions from net realized gains which are paid in cash or are reinvested at the discretion of shareholders.
These activities are reported in the Statement of Changes in Net Assets and additional information on cash
receipts and cash payments is presented in the Statement of Cash Flows. Accounting practices that do not affec