<SEC-DOCUMENT>0001752724-24-152903.txt : 20240709
<SEC-HEADER>0001752724-24-152903.hdr.sgml : 20240709
<ACCEPTANCE-DATETIME>20240709160212
ACCESSION NUMBER:		0001752724-24-152903
CONFORMED SUBMISSION TYPE:	N-CEN
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20240430
FILED AS OF DATE:		20240709
DATE AS OF CHANGE:		20240709
EFFECTIVENESS DATE:		20240709

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			FORUM FUNDS
		CENTRAL INDEX KEY:			0000315774
		ORGANIZATION NAME:           	
		IRS NUMBER:				010516963
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0531

	FILING VALUES:
		FORM TYPE:		N-CEN
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-03023
		FILM NUMBER:		241107480

	BUSINESS ADDRESS:	
		STREET 1:		THREE CANAL PLAZA
		CITY:			PORTLAND
		STATE:			ME
		ZIP:			04101
		BUSINESS PHONE:		2073472000

	MAIL ADDRESS:	
		STREET 1:		FORUM FUNDS
		STREET 2:		THREE CANAL PLAZA
		CITY:			PORTLAND
		STATE:			ME
		ZIP:			04101

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	FORUM FUNDS INC
		DATE OF NAME CHANGE:	19920703

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	FAHNESTOCK DAILY INCOME FUND INC
		DATE OF NAME CHANGE:	19870617

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DAILY INCOME EXTENSION FUND INC
		DATE OF NAME CHANGE:	19810607
<SERIES-AND-CLASSES-CONTRACTS-DATA>
<EXISTING-SERIES-AND-CLASSES-CONTRACTS>
<SERIES>
<OWNER-CIK>0000315774
<SERIES-ID>S000040732
<SERIES-NAME>Monongahela All Cap Value Fund
<CLASS-CONTRACT>
<CLASS-CONTRACT-ID>C000126338
<CLASS-CONTRACT-NAME>Monongahela All Cap Value Fund
<CLASS-CONTRACT-TICKER-SYMBOL>MCMVX
</CLASS-CONTRACT>
</SERIES>
</EXISTING-SERIES-AND-CLASSES-CONTRACTS>
</SERIES-AND-CLASSES-CONTRACTS-DATA>
</SEC-HEADER>
<DOCUMENT>
<TYPE>N-CEN
<SEQUENCE>1
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        <chiefComplianceOfficer>
          <ccoName>Carlyn Edgar</ccoName>
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          <ccoStreet1>THREE CANAL PLAZA, SUITE 600</ccoStreet1>
          <ccoCity>Portland</ccoCity>
          <ccoStateCountry ccoCountry="US" ccoState="US-ME"/>
          <ccoZipCode>04101</ccoZipCode>
          <ccoPhone>XXXXXX</ccoPhone>
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      <isClaimFiled>N</isClaimFiled>
      <coveredByInsurancePolicy isCoveredByInsurancePolicy="Y" isClaimFiledDuringPeriod="N"/>
      <isFinancialSupportDuringPeriod>N</isFinancialSupportDuringPeriod>
      <isExemptionFromAct>N</isExemptionFromAct>
      <principalUnderwriters>
        <principalUnderwriter>
          <principalUnderwriterName>Foreside Fund Services, LLC</principalUnderwriterName>
          <principalUnderwriterFileNumber>008-51293</principalUnderwriterFileNumber>
          <principalUnderwriterCrdNumber>000046106</principalUnderwriterCrdNumber>
          <principalUnderwriterLei>N/A</principalUnderwriterLei>
          <principalUnderWriterStateCountry principalUnderWriterCountry="US" principalUnderWriterState="US-ME"/>
          <isPrincipalUnderwriterAffiliatedWithRegistrant>N</isPrincipalUnderwriterAffiliatedWithRegistrant>
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      <isUnderwriterHiredOrTerminated>N</isUnderwriterHiredOrTerminated>
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          <publicAccountantName>Cohen &amp; Company</publicAccountantName>
          <pcaobNumber>925</pcaobNumber>
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          <publicAccountantStateCountry publicAccountantCountry="US" publicAccountantState="US-PA"/>
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        <mgmtInvFundName>MONONGAHELA ALL CAP VALUE FUND</mgmtInvFundName>
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<DOCUMENT>
<TYPE>INTERNAL CONTROL RPT
<SEQUENCE>2
<FILENAME>Cohen_Audit_NCEN_Monongahela.htm
<DESCRIPTION>COHEN INTERNAL CONTROL REPORT FF - MONONGAHELA
<TEXT>
<html>
  <head>
    <title></title>
    <!-- Licensed to: Atlantic
         Document created using Broadridge PROfile 22.10.1.5080
         Copyright 1995 - 2024 Broadridge -->
  </head>
<body style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000;" bgcolor="#ffffff">
  <div>
    <div><br>
    </div>
    <div style="text-align: center; margin-left: 8.1pt; margin-top: 3.35pt; font-weight: bold;"><u>REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM</u></div>
    <div><br>
    </div>
    <div style="text-align: justify; margin-left: 14pt; margin-top: 0.05pt;">To the Shareholders of Monongahela All Cap Value Fund and Board of Trustees of Forum Funds</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 0.2pt; margin-right: 5.8pt; margin-left: 13.75pt;">In planning and performing our audit of the financial statements of Forum Funds comprising
      Monongahela All Cap Value Fund (the &#8220;Fund&#8221;) as of and for the year ended April 30, 2024, in accordance with the standards of the Public Company Accounting Oversight Board (United States) (PCAOB), we considered the Fund&#8217;s internal control over
      financial reporting, including controls over safeguarding securities, as a basis for designing our auditing procedures for the purpose of expressing our opinion on the financial statements and to comply with the requirements of Form N&#8208;CEN, but not
      for the purpose of expressing an opinion on the effectiveness of the Fund&#8217;s internal control over financial reporting. Accordingly, we express no such opinion.</div>
    <div style="text-align: justify; text-indent: 0.15pt; margin-right: 5.9pt; margin-left: 13.75pt; margin-top: 12.15pt;">The management of the Fund is responsible for establishing and maintaining
      effective internal control over financial reporting. In fulfilling this responsibility, estimates and judgments by management are required to assess the expected benefits and related costs of controls. A fund&#8217;s internal control over financial
      reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles (GAAP). A
      fund&#8217;s internal control over financial reporting includes those policies and procedures that (1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the
      fund; (2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with GAAP, and that receipts and expenditures of the fund are being made only in accordance with
      authorizations of management and trustees of the fund; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use or disposition of a fund&#8217;s assets that could have a material effect on the financial
      statements.</div>
    <div style="margin-top: 0.05pt;"><br>
    </div>
    <div style="text-align: justify; text-indent: 0.1pt; margin-right: 5.8pt; margin-left: 13.9pt;">Because of its inherent limitations, internal control over financial reporting may not prevent or
      detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or
      procedures may deteriorate.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 0.05pt; margin-right: 5.85pt; margin-left: 13.85pt; margin-top: 0.05pt;">A deficiency in internal control over financial reporting exists when the
      design or operation of a control does not allow management or employees, in the normal course of performing their assigned functions, to prevent or detect misstatements on a timely basis. A material weakness is a deficiency, or combination of
      deficiencies, in internal control over financial reporting, such that there is a reasonable possibility that a material misstatement of the Fund&#8217;s annual or interim financial statements will not be prevented or detected on a timely basis.</div>
    <div style="text-align: justify; text-indent: 0.1pt; margin-right: 5.7pt; margin-left: 13.85pt; margin-top: 12.15pt;">Our consideration of the Fund&#8217;s internal control over financial reporting
      was for the limited purpose described in the first paragraph and would not necessarily disclose all deficiencies in internal control that might be material weaknesses under standards established by the PCAOB. However, we noted no deficiencies in the
      Fund&#8217;s internal control over financial reporting and its operation, including controls over safeguarding securities, that we consider to be a material weakness as defined above as of April 30, 2024.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 0.15pt; margin-right: 5.85pt; margin-left: 13.9pt;">This report is intended solely for the information and use of management and the Board of
      Trustees of the Fund and the Securities and Exchange Commission and is not intended to be and should not be used by anyone other than these specified parties.</div>
    <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman', Times, serif; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-align: justify; margin-left: 13.9pt; margin-top: 5pt;"> <font style="font-family: 'Times New Roman'; font-size: 10pt;">/s/ COHEN &amp; COMPANY, LTD.</font></div>
    <div style="color: rgb(0, 0, 0); font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; text-indent: 0px; text-transform: none; word-spacing: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-style: initial; text-decoration-color: initial; margin-right: 366pt; margin-left: 13.9pt;">COHEN &amp; COMPANY, LTD.</div>
    <div style="color: rgb(0, 0, 0); font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; text-indent: 0px; text-transform: none; word-spacing: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-style: initial; text-decoration-color: initial; margin-right: 366pt; margin-left: 13.9pt;">Philadelphia, Pennsylvania</div>
    <div style="color: rgb(0, 0, 0); font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; text-indent: 0px; text-transform: none; word-spacing: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-style: initial; text-decoration-color: initial; margin-right: 366pt; margin-left: 13.9pt;">June 27, 2024</div>
    <div style="text-align: justify; text-indent: 0.15pt; margin-right: 5.85pt; margin-left: 13.9pt; font-family: Calibri, sans-serif;"> </div>
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