Loading
Holy See's budget shortfall shrinks in 2008

.- The Council responsible for studying the Vatican’s finances announced over the weekend that the Holy See has reported a deficit of about 900,000 euros for 2008, a fraction of the previous year’s deficit.

The Council of Cardinals for the Study of Organizational and Economic Problems of the Holy See met at the Vatican from July 1 to 3, under the presidency of Cardinal Secretary of State Tarcisio Bertone S.D.B. 

This past Saturday, the Council published a communique explaining the 2008 consolidated financial statements for the Holy See, the Governorate of the Vatican City State, and donations to Peter’s Pence.

The communique shows a deficit of 911,514 euros for the Holy See, the difference between an income of 253,953,869 euros and expenses of 254,865,383 euros.

Last year’s deficit was over 9 million euros.

The Holy See has 2,732 employees, 16 fewer than in 2007. Of this total number, 761 are priests, 334 religious and 1,637 lay people.

The Governorate of the Vatican City State, however, has posted a deficit of slightly over 15 million euros for 2008.  Last year, it registered a surplus of 6.7 million euros.

The finance council attributed a significant portion of this deficit to the study of an integrated communications infrastructure that includes telephone and internet services, as well as photoelectric panels installed on the roof of the Paul VI Hall. 

Also cited was the “notable economic and financial burden of protecting, evaluating and restoring the artistic heritage of the Holy See.” This includes restoration of the Pauline Chapel and work on St. Paul Outside-the-Walls and St. Mary Major.

The Governorate of Vatican City employs a total of 1,894 people, 99 more than in 2007. 

Finally, Peter's Pence brought in 54,387,714 euros in 2008. The Peter’s Pence fund is comprised of offerings to the Holy Father by particular Churches, especially for the Solemnity of Sts. Peter and Paul.

Although the number of donations to the fund were more numerous than in 2007, the total amount decreased slightly due to the economy.


Ads by AdsLiveMedia(What's this?)

* The number of messages that can be online is limited. CNA reserves the right to edit messages for content and tone. Comments and opinions expressed by users do not necessarily reflect the opinions or beliefs of CNA. CNA will not publish comments with abusive language, insults or links to other pages

RESOURCES »

Ads by Google (What's this?)

Featured Videos

3D Church mapping
3D Church mapping
#PAUSEforPeace Initiative
Dedicating art to San Juan de la Cruz
A state without territory elects new government
The renewal of the Legionaries of Christ
Presentation of the book "The Pastor"
Synod on the Family October 2014
Preferential option for the poor
God is alive, even in sport
'A forbidden God' named Best Film at the International Catholic Film Festival
Vatican backs a 'Pause for Peace' during World Cup final
The effects of religious violence in Sarajevo 
The origin of Corpus Christi 
Corpus Christi at the Vatican 
Homage to an Indian Cardinal
Train of the Child's Light
New book explaining gestures of the Mass
Encounter between Pope Francis and the Charismatic Renewal in the Spirit Movement.
Religious tensions subside amid Balkan floods
John Paul II Center for Studies on Marriage and Family
Jul
30

Liturgical Calendar

July 30, 2014

Wednesday of the Seventeenth Week in Ordinary Time

All readings:
Today »
This year »

Catholic Daily

Gospel of the Day

Mt 13:44-46

Gospel
Date
07/30/14
07/29/14
07/28/14

Daily Readings


First Reading:: Jer 15: 10, 16-21
Gospel:: Mt 13: 44-46

Saint of the Day

St. Peter Chrysologus »

Saint
Date
07/29/14

Homily of the Day

Mt 13:44-46

Homily
Date
07/30/14
07/29/14
07/28/14

Ads by AdsLiveMedia.com

Ads by AdsLiveMedia.com
     HTML
Text only
Headlines
  

Follow us: