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Vatican finances presented to Economic Council of Cardinals

By editor - 05 July, 2013

On Tuesday Wednesday (July 2 and 3rd), the meeting of the Council of Cardinals for the Study of Organisational and Economic Problems of the Holy See took place in Vatican City, presided over by Cardinal Secretary of State Tarcisio Bertone . Particularly noteworthy was the visit on Wednesday 3 by Pope Francis, who addressed the speakers and engaged in a brief dialogue, reiterating the aims and purpose of the Council and inviting the continuation of periodical meetings.

The following Cardinals participated in the meeting: Joachim Meisner, archbishop of Köln (Germany), Antonio María Rouco Varela, archbishop of Madrid (Spain), Polycarp Pengo, archbishop of Dar-el-Salaam (Tanzania), Norberto Rivera Carrera, archbishop of México (México), Wilfrid Fox Napier, o.f.m., archbishop of Durban (South Africa), Angelo Scola, archbishop of Milan (Italy), Telesphore Placidus Toppo, archbishop of Ranchi (India), George Pell, archbishop of Sydney (Australia), Agostino Vallini, vicar general of His Holiness for the diocese of Rome, John Tong Hon, bishop of Hong Kong (China), Jorge Liberato Urosa Savino, archbishop of Caracas (Venezuela), Odilo Pedro Scherer, archbishop of São Paulo (Brazil).

The consolidated financial statement for the Holy See for the year 2012 closes with a profit of € 2,185,622, due mainly to good performance in financial management. The most significant categories of expenditure are those regarding the cost of personnel, numbering 2,823 units on 31 December 2012, means of social communication considered in their entirety, and the new property taxes (IMU) which resulted in an increase in expenditure of € 5,000,000 compared to previous figures.

The Governorate has an autonomous Administration independent from contributions of the Holy See and, through its various Directions, provides for the needs relating to the management of the State. The 2012 financial statement, while affected by the global economic climate, closed with a profit of € 23,079,800, an increase of over a million euros compared to that of the previous year. A total of 1,936 were employed on 31 December 2012.

Peter’s Pence, the contributions offered by the faithful in support of the Holy Father’s charity, passed from USD 69,711,722.76 in 2011, to USD 65,922,637.08, registering a reduction of 11.91%. Further contributions to the Holy See on the part of the Institutes of Consecrated Life, Societies of Apostolic Life and Foundations passed from USD 1,194,217.78, in 2011, to USD 1,133,466.91, with a reduction of 5.09%. In total, therefore, there has been a decrement of 7.45% compared to the total in US dollars recorded in 2011.

The Institute for the Works of Religion (IOR), as each year, offered the Holy Father a significant sum in support of his apostolic and charitable ministry. For 2012 this was a sum of € 50,000,000, to which € 1,000,000 is to be added for the Amazon Fund, € 1,500,000 for the Pro-orantibus Fund (support for cloistered monasteries), € 1,500,000 for the San Sergio Fund (support for the Church in the former Soviet Union), € 1,000,000 for the Commission for Latin America, and other minor donations.

The Cardinal Fathers reflected on the data presented in the financial statements, verifying the positive results attained, and encouraged the reform necessary to reduce costs through the simplification and rationalisation of existent bodies, as well as more careful planning of the activities of all administrations. The Members of the Council expressed their deep gratitude for the support given, often anonymously, to the Holy Father’s universal ministry in spite of moments of economic crisis, and encouraged perseverance in this good work.