"funds are devoted" is correct and usable in written English.
You can use this phrase in a variety of contexts to express that resources are allocated to a particular purpose. For example, "The department devoted their funds to strengthening security protocols."
Around 3-5% of DfID programme funds are devoted to evaluation, where appropriate.
Most EU migration policy funds are devoted to preventing all migrants — including refugees — from touching the safety of Europe.
There is no "silver bullet" to boost struggling students but enormous effort and funds are devoted to finding it.
Two components, making up the lion's share of the allocated funds, are devoted to building infrastructure for broadband Internet connection.
Before any public funds are devoted to building new schools in these straitened times, shouldn't we be looking at how existing popular schools could better serve their communities by changing their admissions criteria?
They also must make sure adequate funds are devoted to patient care and improving the quality of life of all pALS.
This organization, which lasted about five years supported by public funds, was devoted to developing personnel with the range of special expertise required for the nascent limited dividend and public housing programs.
While the challenge program amounts to $20 million annually, in the current fiscal year more than $90 million in other NEA funds is devoted to arts grants in specific disciplines.
This study shows that a substantial portion of Global Fund's Round 8 funds was devoted to health systems strengthening.
19% of funds were devoted for provision of critical life saving medical equipment and improvement of infrastructure.
