U.S. Still the Holy See's Top Source of Funding

VATICAN CITY, JULY 8, 2004 (Zenit.org).- The Catholic Church in the United States continues to be the Holy See’s greatest source of funding, a Vatican official said.

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Next in order of financial contributors are the faithful in several European countries, said Cardinal Sergio Sebastiani, president of the Prefecture for the Economic Affairs of the Holy See.

U.S. dioceses, as well as those in the rest of the world, contribute to the financing of the Holy See, as established by Canon 1271 of the Code of Canon Law.

“In the past year there has been no decrease in the contributions from the United States, which are always in first place in the offerings,” Cardinal Sebastiani said today during the presentation to the press of the Consolidated Financial Statement of the Holy See for the fiscal year 2003.

The data refutes press reports claiming that U.S. contributions have fallen in the wake of the clerical sex abuse scandals.

Both the president of the prefecture, as well as the general accountant, Paolo Trombetta, said the Holy See has a policy of patrimony maintenance and that it seeks “safe investments even it they are of low yield.”

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