Funds and Assets Management Committee
The Funds and Assets Management Committee (FAMC) is one of the working groups of the Auroville Foundation, recognised by the Foundation Act, and specifically required to advise the Governing Board on:
- the utilisation of funds and management of assets
- taxes and audits
- the sale, acquisition and utilisation of immovable assets
The FAMC also approves the creation and closure of Trusts and Units and the appointment and resignation of Trustees and Executives. It oversees the performance of Trusts and Units, and evolves guidelines and policies for the management of Trusts, Units and immovable assets such as housing, other public buildings, and funds held by the Unity Fund. The BCC is a subgroup of the FAMC.
This mandate was approved by the Residents Assembly in April 2016
The FAMC shall endeavour to:
- Encourage the development of an economy based on the Mother’s vision and instructions. This includes:
- Establish and sustain a self-supporting city of 50,000 people.
- The organization should be such, that everyone's material need should be met, not according to notions of right and equality, but on the basis of the most elementary necessities; then, once that is established, everyone must be free to organize his life, not according to his monetary means, but according to his inner capacities.
- Ensure that everyone contributes in work, kind, and/or money.
- Eliminate the exchange of money between Aurovilians.
- Ensure that all profits are given to Auroville.
- Abolish inheritance in Auroville.
- Become the City the Earth needs.
- Promote a vibrant and sustainable economy.
- Protect and grow Auroville funds and assets.
- Ensure that financial rules and regulations, both internal and external, are followed.
- Ensure financial transparency, clarity, and accountability.
- Ensure that all funds and assets of Auroville are being managed in a responsible manner and are used to achieve the vision set out in the Charter of Auroville.
- Phone: 043-262-3649
- E-mail: adminfamc (at) auroville.org.in