HOLY SEE DEFICIT FOR 2002 WAS 13,506,722 EURO

VATICAN CITY, JUL 10, 2003 (VIS) - The 37th meeting of the Council of Cardinals for the Study of Organizational and Economic Problems of the Holy See took place on Tuesday afternoon, July 8, under the presidency of Cardinal Angelo Sodano, according to a communique published yesterday afternoon.

Other participants included Cardinals Michael Mahony, Camillo Ruini, Jean Claude Turcotte, Ricardo Maria Carles Gordo, Ivan Dias, Edward Michael Egan, His Beatitude Michel Sabbah and Cardinal Edmund Casimir Szoka, president of the Governorate of Vatican City State. Also present were officials from the Prefecture for the Economic Affairs of the Holy See and from APSA, the Administration of the Patrimony of the Apostolic See.

Cardinal Sergio Sebastiani, president of the Prefecture, presented the 2002 consolidated financial statements to the Council, noting that the Holy See deficit for that year was 13,506,722 Euro ($15,290,960). Total income was 216,575,034 Euro ($245,184,596) and total expenses were 230,081,756 Euro ($260,475,556).

"A considerable part of the expenses," states the communique, "must be attributed to the costs of both the ordinary and extraordinary administration of the Roman Curia which daily undertakes its activity in service to the Holy Father. There are 2,659 people who work for the Roman Curia, including 744 ecclesiastics, 351 religious and 1,564 lay people. There are 892 retired employees who receive pensions. During 2002 there were expenses involving the building or acquiring of new offices for Pontifical Representatives. In addition, the Holy See acquired in Rome a building due to the need for further space for institutional purposes."

Also presented were the 2002 consolidated financial statements for Vatican City State, which had a deficit of 16,048,508 ($18,215,057). The communique noted that "this negative result, compared to the surplus for 2001, was caused by the reduction in income in the various sectors and by the contribution given to Vatican Radio to cover part of its deficit. Vatican City State has 1,511 employees, including four officials, 75 religious and 1,432 lay people. There are 566 pensioners."

The last item under review by the Council of Cardinals was Peter's Pence which for 2002 amounted to $52,836,693. This sum was used by the Holy Father for charitable purposes, with particular attention paid to Church communities in the Third World and "to alleviate needs brought about because of wars or natural calamities." Peter's Pence offerings by the faithful for 2002 increased by 1.8 percent over 2001.

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