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1.11.1 The
activities of Auroville are financed through contributions from residents,
grants and donations from India and abroad, income generated by Auroville
units and Government of India grants. These activities are co-ordinated
through various working groups.
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1.11.2
Auroville Fund is the official receiving, disbursing and accounting
channel through which Indian and foreign donations for various projects
reach units and projects in Auroville. The expenditure on account of the
Auroville Foundation Secretariat is met by the Department of Education,
Ministry of Human Resources Development, Government of India, by way of
annual grants. Income and expenditure statement for the year 1998-1999
given in Appendix III gives an idea of general sources of revenue and
major items of expenditure.
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1.11.3
In the past ten years, Auroville generated Rs. 150 crores for its
activities of which Rs. 100 crores were generated internally. The balance
of Rs. 50 crores, was raised through donations from abroad (46%), donations
from agencies and individuals within India (38%) and grants from the Government
of India (16%).
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1.11.4
The Financial Service was started in the seventies 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 have been done through transfers using these
accounts.
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Finantial Service
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1.11.5
The Central Fund was started in 1989 as a system to provide
collective support to Auroville's services and other responsibilities
and to provide maintenance allowances to the Aurovilians who do not have
private resources. The Central Fund is financed through the income generated
from commercial units, which contribute varying percentages of their profits;
contributions from guests; projects; interest on deposits with the Auroville
Fund by individuals; and donations by individual Aurovillians. Apart from
this, each unit pays Rs 1,000 a month for each Aurovilian working for
that unit. Since July 1995, the Central Fund has successfully increased
its income on deposits, by asking Aurovilians to transfer the amounts
they had in low interest-generating bank accounts to their Financial Service
accounts, and to forgo interest on these accounts. This has resulted at
present in a total capital of over 4 crores. The interest of this capital
is now mainly used to finance the monthly budgets of the Central Fund.
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1.11.6
The Central Fund distributes its income
of approx. Rs. 35 lakh per month to more than 40 activities and services.
The Central Fund accounts are published each month in the Auroville News.
The Economy Group is responsible for administering this Fund. Over the
past two years there has been a marked shift in emphasis from the services
to the individual. The Central Fund budget specifically for the maintenance
of Aurovilians receives a great deal of attention. As of today, the allocations
for the basic subsistence of about 370 Aurovilians and their families
is under intense observation to secure a strong base for the well being
of each one. In August 1999, the Auroville Maintenance Fund / Financial
Service introduced a new software which provides for the possibility for
each Aurovilian to have both a cash and a kind account. This is meant
to be a tool to help Auroville to move into an internal economy where
there is no exchange of money. It is hoped that the needs of Aurovilians
who are now covered either by themselves, by projects or by the commercial
units for whom they work, will progressively be covered in a different
way through the combined resources of the community.
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