January '03

Surviving, not growing

Extracts from a summary presented to the Governing Board by the Funds and Assets Management Committee (FAMC)

Sources of Funds and Utilisation: Auroville's main source of funds is from donations received by well-wishers in India and all over the world. Of the total receipts of approximately Rs. 33 crores (US$ 6,875,000) last year, Rs. 4.8 crores (US$ 1,000,000) came from internal generation and Rs. 7.4 crores (US$ 1,540,000) from individual donations to Auroville projects and development. The percentage break down of inflows is: internal generation 18%, foreign sources 56% Indian sources 26%. These grants are directed towards all major activities of Auroville: building Matrimandir (10.38 %), purchasing land (4.25 %), education (9.06 %), maintaining Aurovilians (22.25%) and balance towards other activities combined.

Deficits: In the estimates for the year 2002-03, the biggest deficits are in the projects of:

(i)purchase of land for Auroville
(ii) Matrimandir,
(iii) public buildings and housing
(iv) education.

For these areas Auroville is mainly dependent on donations from outside, which makes forecasting a difficult exercise in today's uncertain world. Due to the unfortunate events of September 11th 2001 and its after-effects, the donations from outside India have declined considerably. As of September 2002 we have received 25% less donations. This is leading to a slowdown of many activities, especially the purchase of land which is a priority for Auroville.

Our deficits for the year 2002-03 will be even higher, with the actual receipts being less than anticipated. To keep up activities in the area of educational research, Auroville has applied for funding in the area of Education and Development to the Government of India. It is also doing active fund- raising for Land and Matrimandir, within and outside India.

In summary, the projects of Auroville are maintaining a minimum level of activity to survive. As and when funds become available the projects will go-ahead at full speed, fulfilling the purpose for which they were started and helping build the city of Auroville.