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Default Getting #ref error after row / cell is this a limit in excel 2003 tia sal2

Greetings All

sorry if this the second post the first one never made it through...gremlins in the system

I’m getting a strange #ref error message in excel and I’m not sure
why. Everything works great up to cell and row. but when I get past
that the #ref error pops up. Is this a limit to excel 2003? Anyone
have any workarounds or recommendations?

The code I start to get the error at is =INDEX($D$3:$D$62,2*ROWS
($1:31)+COLUMNS($D:D)-2)

An image can be found at http://test.onewithall.net/problem/excel_problem.jpg
or the Excel file can be found at is http://test.onewithall.net/problem/excel_problem.xls

Tia sal2