Updated 03/07/2005

The Board of Directors in their December 27, 2004 meeting, voted to restrict funding for the fiscal year beginning July 1, 2004 and ending June 30, 2005 and the fiscal year July 1, 2005 and ending June 30, 2006 to continuing grants.

No new proposals will be considered for funding during that period. Because the value of our portfolio has gone down twenty-five per cent, we feel it unwise to enter into new funding agreements until the financial markets stabilize.

Please hold your proposals for the fiscal year July 1, 2006 through June 30, 2007.