A resistive element is formed on a printed circuit board using only printed circuit board fabrication techniques. A substrate having a bi-metallic cladding on one side of the substrate and a conductive metallic cladding on an opposing side of the substrate is used. A predetermined trace pattern is formed in the metallic cladding. Resistive elements are formed in the bi-metallic cladding opposing their desired locations in the trace pattern. The bi-metallic cladding consists of a resistive layer between the substrate and a second conductive layer. Tabs are etched in the second conductive layer, then resistors, which couple various tabs together, are etched in the resistive layer. Plated holes connect the tabs to desired locations in the trace pattern located on the opposing side of the substrate.