Funds and Assets Management Committee (FAMC)
of the Residents Assembly
FAMC recommended final draft 16 February 2013
FAMC is a representative body with its regular members appointed by the following groups (in alphabetical order):
3. Auroville Board of Commerce (ABC)
4. Auroville Board of Services (ABS)
5. Auroville Council (AVC)
6. Budget Coordination Committee (BCC)
7. Community at large (a financial or internal audit specialist)
8. Farm Group
9. Forest Group
10. Housing Board
11. Land Consolidation Committee (LCC)
12. Land Resources Management (LRM)
13. Sri Aurobindo International Institute of Educational Research (SAIIER)
14. TDC (Town Development Council) /L’avenir d' Auroville
15. Unity Fund
16. Working Committee (WC)
FAMC has the following permanent invitees:
Secretary, Auroville Foundation
Financial Administrative Officer (FAO)
FAMC may invite temporary co-opted members, or invitees, as needed
Term of Office for regular members:
Regular members are selected by their respective working groups. Their term of office is limited to three years or as long as they are a
member of their respective group, whichever period is shorter. Regular members can be reappointed after a gap of two years, for a second term, by their respective group, and with the support of the FAMC.
Regular members may be reappointed without a gap of two years at the request of the respective working group, and with the support of the FAMC, if they hold special qualifications needed by FAMC.
Membership in the FAMC should not exceed 6 years, as a representative of the same group. A member will not serve a third term. Membership change should be staggered, and no more than 3 members should change at a time.
Each working group will designate another of its members to replace the member-representative whenever s/he is not able to attend a meeting. In case a regular member has a planned absence of 1 month or more, the respective working group will provide advance notification of the substitute to the FAMC.
Resignation of a member:
A member may resign by giving a one-month notice to the other members of the FAMC, who will request the working group represented to nominate the member's successor.
Condition for nomination of a working group representative:
Only residents who have been registered members of Auroville for a minimum of 5 years may be nominated as a member of the FAMC. It is important the representative have some working knowledge, education, understands the aims of Auroville, and/or has experience in finance and asset management. The FAMC may, in exceptional cases, decide to accept a nominee who does not fulfil this criterion. When an exception is being considered, the FAMC will seek input from the Residents Assembly. The secretary of the FAMC will inform the community at large about changes in membership on a regular basis.
Persons appointed to be members of FAMC should not be members of a Residents Assembly selection-process group (ie. Auroville Council, Entry Service, L'avenir d'Auroville, and Working Committee) except the one they have been appointed by.
Appointment or Recall of a member by its respective Working Group:
A group deputing a member to the FAMC is entitled to do so as per rules decided upon by the group itself. Equally the group may frame
rules entitling it to recall their representative for the FAMC.
Replacement of a regular member:
The FAMC is entitled to request a group to replace their representative by giving reasons, i.e. frequent absence from meetings without valid reasons or without giving advance notice. The group is not bound by the request of the FAMC.
The FAMC selects a secretary from the community at large. The secretary does not have a term of office, but can be dismissed by a motion of the FAMC members, which is supported by at least half of its regular members. The secretary has no voting rights. The secretary will be responsible for calling meetings, maintaining the minutes of the meeting, and for regular publishing of meeting reports in the Auroville News and AV Net. The secretary is also the official channel for communication between FAMC and all outside parties. Follow up on decisions taken by the FAMC will be done by the secretary unless some other member has been asked to do the follow up. Decisions taken by the FAMC are communicated formally by the secretary.
The FAMC selects a chairperson from among its members or from the community at large, which may include a Friend of Auroville, or a professional facilitator, for example. A member chairperson has voting rights; a non-member chairperson does not have voting rights.
The chairperson does not have a predefined term of office, but can be recalled by a motion of the FAMC members supported by at least 33% of the FAMC regular members. The chairperson is expected to ensure that persons are given an opportunity to express themselves and shall
strive for a harmonious agreement among members of the FAMC.
The FAMC will normally take decisions by consensus. When consensus cannot be reached, dissenting members may still consent to the proposed decision. In extreme cases and after having attempted to reach consensus/consent a two-thirds majority of voting members may
suffice to take a decision. If a vote is initiated, invitees do not have voting rights. However such decisions are subject to, at least, a one week cooling period. Where a decision is being taken that relates to a policy matter there must be an agreement of at least a two-thirds majority of voting members. Failing such an agreement the FAMC may constitute a sub-group to review the matter, or seek input from the community to make a recommendation to the FAMC.
The presence of half plus one of the regular members is required to form a quorum. If within half an hour from the time appointed for holding a meeting, a quorum is not present, the meeting can discuss the topics on the agenda but cannot take any decision. In this case the meeting will automatically stand adjourned to the same day one week later, at the same time and place.
The FAMC meets weekly at a place of its choice. Additional meetings can be called if necessary.
The secretary and chairperson prepare the agenda in consultation with the members of the FAMC. The FAMC may evolve mechanisms to
effectively manage their agenda by assigning priorities as agreed upon. The final agenda for a meeting is circulated to the FAMC members
before the meeting. Additional agenda items can be added by members at the beginning of the meeting.
Areas of responsibility for the FAMC:
· A society which produces enough wealth to support itself and to provide each one of its members with a “sphere of action” (a work) and a “simplified way of life” which leaves enough time to develop our respective “higher qualities”.
· A more ideal internal economy based on 1) mastered desires, 2) non-ownership/possession, 3) work being taken as karma yoga, 4) work and money being offered to the collective (instead of being traded against some material benefits), 5) no circulation of (private) money and 6) being satisfied with whatever the township is able to provide.
· A society which sees money as a “collective possession” and demonstrates its proper use by putting whatever it generates and is given in the hands of the “highest consciousness” available.
· And help create socio-economic policies that enable generation of funds and financial security of the residents; enforce and defend the socio-economic and financial policies through direct and indirect interventions;
1. To 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;
2. To develop and implement plans that enhance funds and assets of Auroville whilst conforming to the Charter and the Mother's guidelines.
3. To formulate policies relating to the use of funds and assets for ratification by the Resident's Assembly;
4. To oversee the functioning of the Auroville Unity Fund and Auroville Maintenance;
5. Scrutinise, debate and approve the annual community budget as submitted by the BCC;
6. Approve requests for loans from the Auroville Maintenance above Rs. 5 lakhs;
7. To recommend and approve the sale or exchange of land;
8. Approve appointment and removal of stewards of land assets;
9. Define and oversee the functioning of Trusts and Units under the Auroville Foundation
10. Recommend the creation and closure of Trusts and Units or other corporate bodies under the Auroville Foundation;
11. Recommend the appointment, resignation and removal of Trustees and Executives of Trusts and Units under the Auroville Foundation;
12. Assess the financial viability of Trusts and Units under the Auroville Foundation;
13. Address and resolve problems arising with respect to the management of Trusts and Units or the allocation of assets;
14. Assess and oversee the financial viability of collective housing and public building projects;
15. To manage and allocate housing through the agency of its sub-group, the Housing Board;
16. To create sub-groups to assist the FAMC in fulfilling the above functions;
17. FAMC ensure the group responsible for either housing, land, or building assets maintains a current list of all assets;
FAMC Mandate changes:
Requests for changes in the FAMC mandate may be initiated by any Working group, or an Aurovilian by contacting one of the represented groups. The representative will bring the topic to the FAMC. Changes to the FAMC mandate are to be reviewed first by each represented working group, the Auroville Council and Working Committee. The changes thereafter will be submitted to the Residents Assembly for feedback via the Auroville Council, who will decide the medium by which to communicate (i.e. seminar, N&N announcement, subgroup). The proposed revised mandate will be submitted to the Residents Assembly for a four week feedback process.
Last FAMC revision 16 February 2013