FINANCIAL POLICIES

All withdrawal transactions on all accounts require two (2) signatures.

At the end of each fiscal year any surplus House & Grounds expense budget not spent that year will be transferred to the Replacement Reserve. (H&G 12/00)

At the end of each fiscal year any surplus expense budget (other than H & G) not spent that year will be transferred to the Operating Reserve until it reaches 25% of the annual income.

Any accounts (bank, investment, etc....) EBHC chooses to deposit money in to must be FDIC insured for at least a $100,000.

EBHC may invest no more than 15% of its cash assets in a variable rate investment balanced fund with an A rating or better, and which has no more than 50% of its holdings in the stock market.

Any funds in the excess of a $1,000 that will not need to be accessed for 61 days or more may be invested in a 60 day or less CD at the same institution that the funds are currently held in. The purpose being to earn a higher rate of return as well as ensure that at maturity of the CD the money can be placed back in its original account.

Any funds in the excess of a $1,000 that will not need to be accessed for 91 days or more may be invested in a 90 day or less CD at the same institution that the funds are currently held in. The purpose being to earn a higher rate of return as well as ensure that at maturity of the CD the money can be placed back in its original account.

Any funds in the excess of a $1,000 that will not need to be accessed for 6 months and 1 day or more may be invested in a 6 month or less CD at the same institution that the funds are currently held in. The purpose being to earn a higher rate of return as well as ensure that at maturity of the CD the money can be placed back in its original account.