Annual approval of the Joint Fidelity Bond for the Conestoga Small Cap Fund and The Institutional Advisors LargeCap Fund  

RESOLVED, that the Board hereby finds that the fidelity bond for the Trust, written by St. Paul Travelers (the “Bond”), which is in the aggregate amount of  $450,000  to cover, among others, officers and employees of the Trust, in accordance with Rule 17g-1 under the 1940 Act is reasonable in form and amount, after having given due consideration to, among other things, the ratable allocation of such total one-year premium among the insured parties under said Bond, the value of the aggregate assets of the Trust to which any person covered under the Bond may have access, the type and terms of the arrangements made for the custody and safekeeping of assets of the Trust and the nature of the securities in the Trust.