Vatican's 2009 Financial Statement

Statement Published by Economic Council of Cardinals

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VATICAN CITY, JULY 11, 2010 ( Here is a translation of the statement published Saturday by the Council of Cardinals for the Study of Organizational and Economic Matters of the Holy See on the 2009 financial statement of the Holy See and the Vatican City State Governorate.

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Wednesday the 7th, Thursday the 8th and Friday the 9th of July there took place at the Vatican the 45th meeting of the Council of Cardinals for the Study of Organizational and Economic Matters of the Holy See, presided over by His Holiness’ secretary of state, the Most Eminent Cardinal Tarcisio Bertone, S.D.B.

The following cardinals participated in the meeting: Roger Mahony, archbishop of Los Angeles (USA); Antonio Maria Rouco Varela, archbishop of Madrid (Spain); Dionigi Tettamanzi, archbishop of Milan (Italy); Wilfrid Fox Napier, archbishop of Durban (South Africa); Anthony Olubunmi Okogie, archbishop of Lagos (Nigeria); Juan Luis Cipriani Thorne, archbishop of Lima (Peru); George Pell, archbishop of Sydney (Australia); Marc Ouellet, P.S.S., archbishop of Quebec (Canada); Agostino Vallini, His Holiness’ Vicar of the Diocese of Rome; Jorge Liberato Urosa Savino, archbishop of Caracas (Venezuela); Nicholas Cheong Jinsuk, archbishop of Seoul (Korea); Odilo Pedro Scherer, archbishop of São Paulo (Brazil).

The Prefecture of the Economic Affairs of the Holy See was represented by its president, His Excellency the Most Reverend Archbishop Velasio De Paolis, C.S., by His Excellency Bishop Vincenzo Di Mauro and by the accountant general Dr. Stefano Fralleoni.

The Vatican City State Governorate and the Administration of the Patrimony of the Apostolic See were represented by: His Eminence Cardinal Giovanni Lajolo and His Excellency Monsignor Carlo Maria Viganò, who are respectively president of the Commission of Cardinals for the V.C.S. and secretary general of the V.C.S. Governorate, His Eminence Cardinal Attilio Nicora and His Excellency Monsignor Domenico Calcagno, who are respectively president and secretary of the A.P.S.A.

At the invitation of the cardinal secretary of state the following spoke on matters in which they are competent: the general director of Vatican Radio, Father Federico Lombardi, S.J., and Dr. Alberto Gasbarri, administrative director.

The following were topics that were addressed:

— The financial statement of the Holy See for 2009;

— The financial statement of the Vatican City State Governorate for 2009;

— Peter’s Pence and the contributions with respect to canon 1271 of the C.I.C., received in 2009.

His Excellency Archbishop Velasio De Paolis explained the 2009 financial statement of the Holy See, that records income of 250,182,364 euro [US$ 316,317,777] and expenditures of 254,284,520 euro [US$ 321,504,333], with a deficit of 4,102,156 euro [US$ 5,186,556].

In relation to the returns of 2009, it was possible to absorb the negative fluctuations that were suspended in 2008 through the reception of calculable standards that were internationally adopted.

Most of the expenditures can be attributed to the ordinary and extraordinary expenses of the dicasteries and organizations of the Holy See, which, with their specific activities, participate in the Supreme Pontiff’s pastoral work with respect to the universal Church. In this ambit, the whole communications network of the Holy See is taken into consideration, with particular attention to Vatican Radio.

Together the above-mentioned entities employ 2,762 persons, 766 ecclesiastics, 344 religious (261 men and 83 women), 1,652 lay people (1,201 men and 451 women).

The Most Excellent President of the Prefecture then presented the financial report of the Governorate for 2009, which, as is well known, provides for the management of the territory, institutions and structures as well as the support activities for the Holy See. Similar to other states, this year too the Vatican felt the effects of the international economic-financial crisis, ending with a deficit of 7,815,183 euro [US$ 9,881,117], with a positive difference comparison to the preceding year of nearly 7.5 million euro [US$ 9.4]. The containment of these general costs permitted the recovery of the financial sector’s loss in 2008.

The activity of the Governorate is independent of the contributions from the Holy See and the other institutions from the moment that this administration autonomously provides fro dealing with its own economic necessities.

The V.C.S. Governorate employs 1,891 persons, of which 38 are men religious, 27 women religious, 1,543 are laymen and 283 are laywomen.

During the period in question, the Governorate, in concert with the Holy See, launched the study of an integrated communication infrastructure, which includes telephone services, Internet and video. In continuity with the commitment of former years, it provided for the protection and development of the artistic patrimony, with particular regard for the Vatican Museums, also expanding the exhibit areas and hours.

The Holy See’s economic and financial commitment to the protection and development of the artistic patrimony has also been noteworthy (major restoration work for all the architectonic components of the colonnade of St. Peter’s Square; interventions in the Papal Basilicas of St. John Lateran, St. Paul Outside the Walls and Santa Maria Maggiore). Also relevant were the costs for the Vatican City State’s internal security and for the major restoration work of the Vatican Library, whose opening is planned for September.

The president of the Prefecture for Economic Affairs further explained the situation of the pension fund, in which 4,587 people participated as of December 12, 2009.

As usual the financial statements were subjected to verification and certification.

There then followed the presentation of the Peter’s Pence, made up of the entirety of the donations made to the Holy Father by the particular Churches, above all on the occasion of the Solemnity of Sts. Peter and Paul, by the Institutes of Consecrated Life and Societies of Apostolic Life, by foundations and by individual faithful. In 2009 Peter’s Pence totaled altogether $82,529,417. In regard to the previous year there was an increase in the donations from dioceses, religious communities and individual faithful.

The largest contributions of 2009 came from the Catholics of the United States, from Italy and from France; the contribution from Korea and Japan is significant in comparison.

In support of the Church’s central structure, through the bond of charity, the bishops contributed, according to the possibilities of their dioceses, with respect to canon 1271 of the C.I.C., $31,516,029. The largest contribution was made by the dioceses of the United States, followed by the dioceses of Germany. As is well known, these contributions are to be clearly distinguished from those established by bilateral agreements, such as, for example, the “Otto per mille” in Italy, which the Holy See does not benefit from but which are destined for the particular Churches for worship and charitable activities.

There are then the donations made by other institutions, among whom are the I.O.R., which donated 50,000,000 euro [US$ 63,217,441] for the religious activities of the Holy Father.

At the end of the meeting the members of the Council expressed their gratitude to those who, in a generous and often anonymous way, sustain the apostolic and charitable ministry of the Holy Father in the service of the universal Church.

[Translation by Joseph G. Trabbic]
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