Here in the US, we are becoming accustomed to seeing many of our parishes and dioceses publish financial reports at the end of each fiscal year. These reports promote financial accountability and transparency. They also encourage a sense of responsibility among parishioners.
Catholics will be interested to note that the Vatican has also released a top-level report of its finances for the fiscal year 2008. All figures are in Euros. As of today, 1 Euro = 1.44 US dollars.
The Vatican’s finances are kept in two different categories. First is the pastoral work of the Holy See, officially known as the work of the “Dicasteries and Organisms of the Holy See.” This includes all ministry and charity work, as well as the Pope’s pastoral care around the world. The second is the “Governorate of Vatican City State” which basically covers all of the support services for the territory. This includes, for example, security, utilities, and maintenance.
The Dicasteries and Organisms of the Holy See employ 2,732 people (2,206 men and 526 women). Employee categories are as follows: 761 priests, 334 religious, and 1,637 lay.
Figures for the pastoral work of the Holy See for Fiscal Year 2008 were as follows:
- Total Revenue: 253,953,869 Euros
- Total Expenses: 254,865,383 Euros
- Net: -911,514 Euros
The Vatican City State employs 1,894 persons (1589 men and 305 women). The majority, 1,835, are lay people and 59 are religious. The Vatican City State ended fiscal year 2008 with a deficit of 15,313,124 Euros. Major expenses included a study for a new internet/phone communications system, new solar panels, maintenance of the vast artwork including that in the Vatican Museums, extension of visitors’ hours, security expenses, restructuring the Apostolic Library, and major restoration work at two basilicas, St. Paul Outside-the-Walls and St. Mary Major. As can be expected, Vatican finances also were negatively impacted by the worldwide economic crisis.
The largest donations from Catholics to the Vatican as a whole came from the US, Italy and Germany. Catholics in Korea and Japan also gave large donations, on a per capita basis.
All financial records were audited and certified, according to the Vatican’s newspaper, L’Osservatore Romano.
