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updated February 2014

Chinese translation

 

Internal economy

Unity fund

Central Fund

For All - Pour Tous

 

 

Work, Maintenance and
Contribution policy 2011

 

Small scale industry in Auroville

(a research and a guide)
2009

 

City Services Yearly Financial
Report 2012-13

City Services Yearly Financial
Report 2010-11

City Services Half-Yearly 2010
financial report

City Services Yearly financial
report for 2009/10

City Services Approved Budget
2009

 

For further study

 

 

See also in Research section:

Financial database

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Financial Services. Photo by Giorgio.

 

 

 

 

 

 

 

Financial Services. Photo by Giorgio.

 

 

 

 

 

 

 

 

Financial Services. Photo by Giorgio.

 
Generally speaking, Auroville activities are financed by donations from Auroville residents, through income generated by Auroville business units and by international grants and donations. These activities are co-ordinated by various Auroville working groups.
Presently, the following bodies are functioning in Auroville's present economic system:

 

The Central Fund

Entrance of the Financial Services. Photo by Giorgio


The Central Fund was started in 1989 to collectively support Auroville's services and other collective responsibilities.
Its income comes from:

    1. Commercial units, which contribute a portion of their annual surplus income
    2. The Rs. 1500 scheme, under which each Aurovilian contributes Rs. 1500 a month
    3. Monthly contributions from guests and guesthouses
    4. Individual contributions from Aurovilians
    5. A portion of returns on the deposits managed by Auroville Maintenance Fund

The Central Fund distributes its income of approx. Rs 37 lakhs (approx. US$ 82,000) per month to more than 45 activities and Community Services. The Central Fund income and expenditure are published each month in the News and Notes.
The Economy Group is responsible for administering this Fund.

The Central Fund budget specifically for the maintenance of Aurovilians receives a great deal of attention. As of today, the allocations for the basic material support of about 650 Aurovilians are made through goods and services, as well as pocket money and attention to special needs, with dedicated attention to the well being of each one.

 

Community Services supported by the Central Fund:

Self-Sustainable Community Service:

Commercial units

Income generating Trusts co-ordinate the activities of the various commercial units of Auroville.At present there are over a hundred large and small commercial units, grouped under fifteen Trusts (under the Auroville Foundation).

The various activities of the units belong to the following categories:

  • Natural handicrafts;
  • Organic food processing;
  • Construction engineering, architecture and solar electronics;
  • Ecological and cost friendly consultancy on
    building and land use;
  • Computer hardware and software;
  • Retailing of AV products.

Auroville's commercial units have an important role in Auroville's aim of becoming self-supporting. They assist the community in maintaining its basic services and infrastructure. They also provide employment/training for a few thousand workers/students from neighbouring villages.

 

The Financial Service / The Auroville Maintenance Fund

 

Financial Services. Photo by Giorgio.

The Financial Service started in the eighties as an attempt to do away with cash transactions in Auroville by keeping accounts of the cash holdings of Aurovilians. Since then, nearly all transactions between units and Aurovilians are done through transfers using these accounts. The Financial Service is the shorthand name that Aurovilians use for the Auroville Maintenance Fund, but they are actually identical.

Since July 1995, the Financial Service/Auroville Maintenance Fund has successfully increased its income from deposits by:

  • Asking Aurovilians to transfer the amounts they had in low interest-generating bank accounts to their Financial Service accounts, and to forgo interests on these amounts.
  • Incorporating the yet to be utilised funds resting with Auroville Fund, SAIIER and CSR.

The interest on this capital is mainly used to finance the monthly budgets of the Central Fund.


Financial Services. Photo by Giorgio.

 

The Economy Group

The Economy Group's function is to monitor and guide Auroville's internal economy. Its main tasks are to:

  • raise funds for the Central Fund
  • disburse the Central Fund each month
  • keep close contact with the Auroville services and evaluate their needs and performance
  • review maintenance allowances to see that as far as possible the needs of individual Aurovilians are met
  • acts as a liaison body between the community and its commercial units
  • study the Auroville economy to find ways of moving towards a true collective economy in line with Auroville's ideals
Financial activities are co-ordinated by the above mentioned Auroville working groups, in collaboration with the following AV agencies for accounting:
  • Auroville Fund -is the official receiving, disbursing and accounting channel through which all foreign donations and some of the Indian donations for various projects are passed to the wide range of service units and development projects in Auroville.
  • Matrimandir - grants/donations from India and (through AV Fund) from abroad, for completing Matrimandir and its gardens.
  • Sri Aurobindo International Institute of Educational Research (SAIIER) - channels international (through AV Fund) and Indian funds and co-ordinates educational and cultural research activities.
  • Centre for Scientific Research (CSR) - channels international funds (through AV Fund) and organises training and consultancy for renewable energy, appropriate building technology and wastewater recycling.
  • Auromitra Trust - channels funds for environmental technology and research on soil, water, forestation and farming.

Funding

 

Financial Services. Photo by Giorgio.


The full realisation of Auroville, a township for 50,000 people, requires a large amount of money to secure the land and develop infrastructure, municipal services and collective housing for its residents. This is a township of volunteers, from all over the world, who dedicate themselves to the aims and ideals of the Auroville Charter. In Auroville the usual mechanisms of self-financing through taxation are in contradiction with the spirit expressed through this Charter. The basic concept of no private ownership does not attract outside investors looking for a profitable return on investment.

Given this context, Auroville's development is mainly dependent on grants and donations from international funding agencies, governmental and non-governmental organisations, and well-wishers. Among its well-wishers are Foundations and private donors in India, Europe and the United States. Foreign donations either channelled through the Auroville International Centres or sent directly. Donations from residents are a major form of contribution within the whole.

Over the past 10 years, Auroville received about Rs. 50 crores (approx. US$ 11 million) from international agencies and private well-wishers for a wide range of development projects and programmes in various fields of Auroville's activities. About 16% came from the Government of India, - 38% from other sources within India, and 46% from abroad.

 

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