Loading
Holy See's budget shortfall shrinks in 2008
Facebook Twitter Google+ Pinterest Addthis

.- 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

An Indian contribution to the Vatican's Synod on the Family
An Indian contribution to the Vatican's Synod on the Family
Christ Cathedral CNA video Sept 2014
Alejandro Bermudez of CNA accepts ice bucket challenge
'The Real Albania,' remembering those who fled
Pope Francis in Albania, "one of the most important visits of the post-communist era in Albania"
Pope Francis greets paralyzed man who risked all to see him
Franciscans on the banks of the Tiber in Rome, working for the New Evangelization
Pilgrimage from Czech Republic to Assisi and Rome for intentions
Testimony of young Indian who met Pope in Korea
Preparations of the Closing Mass of 6th Asian Youth Day
Missionary of Charity, Korea
Testimony of Christian Love during Pope's Visit to Korea
Religious Sisters in South Korea react to Pope Francis kissing a baby
Warm atmosphere during Holy Mass at Daejeon World Cup Stadium
Images inside Pope Francis flight to South Korea
The tombs of the early Christians
Missionaries of Africa, called "the White Fathers"
Italian youth give testimony after mission to Peru
Interview with Iraqi Ambassador to the Holy See on the persecution of Christians
New book 'The Vatican unknown'
Oct
23

Liturgical Calendar

October 23, 2014

Thursday of the Twenty-Ninth Week in Ordinary Time

All readings:
Today »
This year »

Catholic Daily

Gospel of the Day

Lk 12:49-53

Gospel
Date
10/23/14
10/22/14
10/21/14

Daily Readings


First Reading:: Eph 3:14-21
Gospel:: Lk 12: 49-53

Saint of the Day

St. Romuald »

Saint
Date
10/23/14

Homily of the Day

Lk 12:49-53

Homily
Date
10/23/14
10/22/14
10/21/14