Holy See ends 2006 with small surplus

Vatican City, Jul 4, 2007 / 08:13 am

During the 41st meeting of the Council of Cardinals to study organizational and economic affairs of the Holy See, Cardinal Sergio Sebastiani, president of Prefecture for the Economic Affairs of the Holy See, presented the final balance for 2006, which showed the Holy See ended the year with a surplus of nearly $3.3 million.

Cardinal Sebastiani explained that income in 2006 reached $310,238,360 while expenditures were $306,980,390. 

He also presented the final balance for 2006 for the Vatican City State, which includes the economic revenues of the Vatican territory and the activities that support the Holy See.  The Vatican government has as one of its main responsibilities the maintaining of the Holy See’s artistic patrimony, mainly concentrated in the Vatican Museums, which receive more than 4.2 million tourists per year.  2006 ended with a surplus of $29,753,126.

The Vatican City State has 693 employees.  In 2006, more than $20 million was paid out in pensions to employees who retired that year. 

During the meeting, the cardinals focused particularly on the economic affairs of Vatican Radio and Television, L’Osservatore Romano, and the Holy See Press Office and website.  They also presented the 2006 Peter’s Pence collection to the Holy See, which last year reached $138,764,960.  The funds from Peter’s Pence are used to support the activities of the Holy Father.