July 8, 2014

Vatican Information Service Bulletin

The following, in it's entirety, is a copyrighted transcript of the Vatican Information Service

Summary

- BUDGETS OF THE HOLY SEE AND GOVERNORATE OF VATICAN CITY STATE: POSITIVE BALANCE

- THE IOR ANNOUNCES ITS SECOND PHASE OF REFORMS

- OTHER PONTIFICAL ACTS

BUDGETS OF THE HOLY SEE AND GOVERNORATE OF VATICAN CITY STATE: POSITIVE BALANCE

Vatican City, 8 July 2014 (VIS) – During the meeting of the Council of the Economy on Saturday 5 July, the Prefecture for Economic Affairs of the Holy See, as is customary at this time of year, presented a report of the two main budgets for 2013: the consolidated financial statement of the Holy See and the financial statement of the Governorate of Vatican City State.

The data included in these statements may be summarised as follows:

The consolidated financial statement for the Holy See for the year 2013 closes with a deficit of € 24,470,549, due principally to negative fluctuations deriving from the valuation of gold, to the value of around € 14 million. Although evaluative elements and therefore not actualised, according to the accounting principles based on the criterion of prudence contained in the “Regulations for the Preparation of the Financial Statements of the Holy See”, they were recorded among the negative components in the overview of financial management.

The most significant categories of expenditure at those regarding personnel costs (2,886 persons on 31 December 2013), a net sum of around € 125 million, and the payment of taxes which affect the real estate sector, approximately € 15 million.

The administration of the Governorate is autonomous, and independent of contributions from the Holy See. Through its various offices, it supervises requirements related to the administration of the State. The 2013 budget closes with a profit of € 33,040,583, an increase of around € 10 million compared to last year. As of 31 December 2013 the Governorate employed a total of 1,936 persons.

Contributions made pursuant to canon 1271 of the Code of Canon Law – i.e. the economic support offered by ecclesiastical circumscriptions throughout the world to maintain the service the Roman Curia offers to the universal Church – passed from € 22,347,426 in 2012 to € 22,435,359, thus remaining substantially stable.

The Institute for Works of Religion (IOR), as it does each year, offered the Holy Father a significant sum in support of his apostolic and charitable ministry. For 2013 this was a sum of € 50,000,000.

Considering the overall combined results of the two Financial Statements, as is usual, 2013 closes with a profit of around € 10 million.

The Council for the Economy, after hearing the Report, made the following declaration:

“The Council has been informed by the Prefecture for Economic Affairs of the budgets relating to 2013, and has taken note of the declaration by the External Auditor, according to whom ‘in all the most important aspects, the financial position of Vatican City State as of 31 December 2013 and the results of transactions relating to the year 2013 comply with the current accounting principles of the regulations of Vatican City State’. On this basis, the Council has approved the 2013 Budget and invites the Secretariat for the Economy to work towards further alignment of Vatican accounting principles with international standards”.

Note on the IOR contribution: Since the Annual Report of the IOR published this morning makes reference to a contribution of € 54 million, it is to be noted that, like last year, € 50 million were destined for the Holy See budget, and the other € 4 million for other works (in 2012 these included, for example, donations to the Fund for the support of cloistered monasteries, the Amazon Fund, the Fund to support the Churches of the former Soviet Union).

THE IOR ANNOUNCES ITS SECOND PHASE OF REFORMS

Vatican City, 8 July 2014 (VIS) – The Institute for the Works of Religion (Istituto per le Opere di Religione – IOR) today released its 2013 financial statements and gave a detailed update on the results of Phase I of the Institute's reform. The second phase, namely the integration of the IOR into the new economic-administrative landscape of the Vatican, will be entrusted to a new board and executive team, operating under a new governance structure. The costs necessary for the completion of Phase I, and costs related to legacy investments, are reflected in the results for 2013.

“As set out in May 2013, we have focused on making the IOR compliant with financial regulation, safer and more transparent, so as to create options for the Holy Father to decide on the future of the Institute. Through this work we have lad the ground for a new team to make the IOR a truly outstanding service provider in Catholic finance”, said Ernst von Freyburg, president of the Board of Superintendence. “Notwithstanding this housekeeping effort, the IOR has delivered a creditable performance for its customers, first and foremost the Holy See itself. In the first half of 2014, we delivered a very positive performance that validates the efforts of all those working at the IOR”, he added.

The full balance for 2013 can be consulted, in English and Italian, on the IOR's website, as follows:

http://www.ior.va/Portals/0/Content/Media/PressReleases/Press%20Release_IOR_8_July-ENG.pdf

http://www.ior.va/Portals/0/Content/Media/PressReleases/Press%20Release_IOR_8_July-ITA.pdf

OTHER PONTIFICAL ACTS

Vatican City, 8 July 2014 (VIS) – The Holy Father has:

- appointed Abbot Jean-Marie Lovey, C.R.B., as bishop of Sion (area 5,589, population 319,000, Catholics 245,000, priests 222, permanent deacons 17, religious 406), Switzerland. The bishop-elect was born in Orsieres, Switzerland in 1950, gave his perpetual vows in 1971, and was ordained a priest in 1977. He holds a licentiate from the University of Fribourg, and has served as chaplain in various colleges and as prior of the Hospice of the Great St. Bernard. He is currently prepositor general of the Canons Regular of the Congregation of the Great St. Bernard. He succeeds Bishop Norbert Brunner, whose resignation in accordance with canon 401 para. 2 of the Code of Canon Law was accepted by the Holy Father.

- appointed Fr. Wilfred Chikpa Anagbe, C.M.F., as coadjutor bishop of the diocese of Makurdi (area 7,304, population 1,014,000, Catholics 457,070, priests 77, religious 51), Nigeria. The bishop-elect was born in Aondona Village, Nigeria in 1965 and was ordained a priest in 1994. He holds a masters degree in theology from the Spiritan International School of Theology, Enugu State, Nigeria. He has held a number of pastoral roles, including priest of the “St. Peter's” parish, Gariki; and the “St. Fidelis” parish, Allan; dean of Utonkon in the diocese of Otukpo; and military chaplain of the 34th Artillery Brigade, Obinze. He is currently provincial bursar and military chaplain of the 3rd Battalion, Warri.

- appointed Fr. David Martinez De Aguirre Guinea, O.P., as coadjutor bishop of the apostolic vicariate of Puerto Maldonado (area 150,000, population 324,000, Catholics 259,000, priests 56, religious 67), Peru. The bishop-elect was born in Vitoria-Gasteiz, Spain in 1970, took his perpetual vows in 1993 and was ordained a priest in 1999. He holds a licentiate in biblical theology from the University of Deusto, Bilbao. He has served in the apostolic vicariate of Puerto Maldonado, as lecturer in biblical theology in the seminary of the vicariate, as priest in the parish of “Inmaculada Concepcion de Kirigueti and as head of the mission of Kirigueti. He is currently head of the “San Pedro Martir de Timpia” mission, member of the directorate of the “Jose Pio Aza” cultural centre in Lima advisor of the regional Dominican vicariate Santa Rosa de Lima.

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