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The phrase "were funds" is correct and usable in written English.
It can be used in contexts discussing the existence or allocation of financial resources in the past. Example: "In the previous fiscal year, there were funds allocated for community development projects."
Dictionary
were funds
noun
A sum or source of money.
Exact(23)
They were "funds of hedge funds" (portfolios containing many hedge funds), not individual funds.
There were funds in the Central Bank but no government to authorize their disbursement.
It was the price that must be paid in order to ensure that there were funds to maintain journalism.
The biggest laggards were funds invested in the emerging markets and Japan, where economies remain in the doldrums.
There were funds to take a Georgian house on the Buckinghamshire estate of Lord Desborough, with a few servants, including Liggins the "houseparlourman".
Most of the big winners in 1999 were funds that were willing to enthusiastically embrace the new economy and to ignore traditional valuation parameters.
Similar(36)
Nor were fund managers.
There were funding issues to begin with.
All were funded through public subscription.
He is fund-raising.
One is funding.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com