<PAGE> PAGE 1
000 B000000 06/30/1999
000 C000000 0000944309
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 6.1
000 J000000 A
001 A000000 TIME HORIZON FUNDS
001 B000000 811-9024
001 C000000 8007225558
002 A000000 103 BELLEVUE PARKWAY
002 B000000 WILMINGTON
002 C000000 DE
002 D010000 19809
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 Y
007 B000000 3
007 C010100 1
007 C020100 PORTFOLIO 1
007 C030100 Y
007 C010200 2
007 C020200 PORTFOLIO 2
007 C030200 Y
007 C010300 3
007 C020300 PORTFOLIO 3
007 C030300 Y
007 C010400 4
007 C010500 5
007 C010600 6
007 C010700 7
007 C010800 8
007 C010900 9
007 C011000 10
008 A00AA01 BANK OF AMERICA
008 B00AA01 A
008 C00AA01 801-84000
008 D01AA01 SAN FRANCISCO
008 D02AA01 CA
008 D03AA01 94104
010 A00AA01 BANK OF AMERICA
010 C01AA01 SAN FRANCISCO
010 C02AA01 CA
010 C03AA01 94104
011 A00AA01 PROVIDENT DISTRIBUTORS, INC.
011 B00AA01 8-46564
011 C01AA01 WEST CONSHOHOCKEN
<PAGE> PAGE 2
011 C02AA01 PA
011 C03AA01 19428
011 C04AA01 2961
012 A00AA01 PFPC, INC.
012 B00AA01 85-825
012 C01AA01 WILMINGTON
012 C02AA01 DE
012 C03AA01 19809
013 A00AA01 PRICE WATERHOUSECOOPERS
013 B01AA01 NEW YORK
013 B02AA01 NY
013 B03AA01 10036
015 A00AA01 PNC BANK, N.A.
015 B00AA01 C
015 C01AA01 LESTER
015 C02AA01 PA
015 C03AA01 19113
015 E01AA01 X
018 00AA00 Y
019 A00AA00 Y
019 B00AA00 25
019 C00AA00 PACHORIZON
020 A000001 BOSTON INSTITUTIONAL SERVICES
020 B000001 04-2479358
020 C000001 9
020 A000002 BEAR STEARNS COMPANIES, INC.
020 B000002 13-3299429
020 C000002 7
020 A000003 INVESTMENT TECHNOLOGY GROUP INC.
020 B000003 95-4339369
020 C000003 22
020 A000004 DONALDSON LUFKIN, JENRETTE SEC.
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020 C000004 8
020 A000005 BERNSTEIN (SANFORD C.) & CO., INC.
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020 C000005 5
020 A000006 SMITH BARNEY, SHEARSON
020 B000006 13-1912900
020 C000006 6
020 A000007 PAINEWEBBER, JACKSON & CURTIS, INC.
020 B000007 13-2638166
020 C000007 7
020 A000008 MORGAN STANLEY & CO.
020 B000008 13-2655998
020 C000008 6
020 A000009 INSTINET, INC.
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<PAGE> PAGE 3
020 C000010 5
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022 A000001 SPEAR, LEEDS & KELLOGG
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022 C000001 14366
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022 B000002 13-2966143
022 C000002 29033
022 D000002 18055
022 A000003 MERRILL LYNCH
022 B000003 13-5674085
022 C000003 2781
022 D000003 1359
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022 B000004 13-3443395
022 C000004 5883
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022 A000005 INVESTMENT TECHNOLOGY GROUP, INC.
022 B000005 95-4339369
022 C000005 9164
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022 A000007 SMITH BARNEY SHEARSON
022 B000007 13-1912900
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022 D000007 3084
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022 C000008 4561
022 D000008 15039
022 A000009 LEGG MASON WOOD WALKER, INC.
022 B000009 00-0000000
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022 A000010 PAINE, WEBBER JACKSON & CURTIS, INC.
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<PAGE> PAGE 4
026 G020000 N
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054 E00AA00 N
054 F00AA00 N
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<PAGE> PAGE 5
054 K00AA00 N
054 L00AA00 N
054 M00AA00 N
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<PAGE> PAGE 6
070 D01AA00 Y
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<PAGE> PAGE 7
080 C00AA00 4350
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<PAGE> PAGE 8
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<PAGE> PAGE 9
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<PAGE> PAGE 10
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<PAGE> PAGE 11
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<PAGE> PAGE 12
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<PAGE> PAGE 13
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<PAGE> PAGE 14
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<PAGE> PAGE 15
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<PAGE> PAGE 16
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SIGNATURE MARY JANE MALONEY
TITLE MANAGER
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EXHIBIT INDEX
Exhibit A: Attachment to item 77B:
Accountants report on internal control
- -------------------------------------------------------
Exhibit A:
Report of Independent Accountants
August 17, 1999
To the Trustees and Shareholders of
Time Horizon Funds
In planning and performing our audits of the financial statements
of Time Horizon Funds for the year ended June 30, 1999, we
considered its internal control, including control activities for
safeguarding securities, in order to determine our auditing
procedures for the purpose of expressing our opinion on the
financial statements and to comply with the requirements of Form
N-SAR, not to provide assurance on internal control.
The management of Time Horizon Funds is responsible for
establishing and maintaining internal control. In fulfilling
this responsibility, estimates and judgments by management are
required to assess the expected benefits and related costs of
controls. Generally, controls that are relevant to an audit
pertain to the entity's objective of preparing financial
statements for external purposes that are fairly presented in
conformity with generally accepted accounting principles. Those
controls include the safeguarding of assets against unauthorized
acquisition, use or disposition.
Because of inherent limitations in internal control, errors or
fraud may occur and not be detected. Also, projection of any
evaluation of internal control to future periods is subject to
the risk that it may become inadequate because of changes in
conditions or that the effectiveness of the design and operation
may deteriorate.
Our consideration of internal control would not necessarily
disclose all matters in internal control that might be material
weaknesses under standards established by the American Institute
of Certified Public Accountants. A material weakness is a
condition in which the design or operation of one or more of the
internal control components does not reduce to a relatively low
level the risk that misstatements caused by error or fraud in
amounts that would be material in relation to the financial
statements being audited may occur and not be detected within a
timely period by employees in the normal course of performing
their assigned functions. However, we noted no matters involving
internal control and its operation, including controls for
safeguarding securities, that we consider to be material
weaknesses as defined above as of June 30, 1999.
This report is intended solely for the information and use of
management and the Trustees of Time Horizon Funds and the
Securities and Exchange Commission and is not intended to be and
should not be used by anyone other than these specified parties.
PricewaterhouseCoopers LLP
August 17, 1999
