VATICAN INFORMATION SERVICE
YEAR XXII - # 126
DATE 08-07-2014

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%20
elease_IOR_8_July-ENG.pdf
http://www.ior.va/Portals/0/Content/Media/PressReleases/Press%20
elease_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.

___________________________________________________________

For more information and to search for documents refer to the site:
www.visnews.org and www.vatican.va

Copyright (VIS):  the news contained in the services of the Vatican
Information Service may be reproduced wholly or partially by quoting
the source:  V. I. S. - Vatican Information Service.
http://www.vatican.va/news_services/press/vis/vis_en.html

--- MPost/386 v1.21
 * Origin: Sursum Corda! BBS=Huntsville AL=bbs.sursum-corda.com (1:396/45)