The Vatican Property Administration publishes its financial statements for 2022: the institution contributes more than 32 million euros to the needs of the Holy See in Rome. The agency’s president noted that the transparency of the numbers helps to remove unfounded speculation about issues such as the Church’s estate, its administration or taxation.
(Vatican News Network) In 2022, the contribution of the Holy See Property Administration to meet the needs of the Holy See of Rome will be 32.27 million euros. The figures were presented in the annual financial statements of the Holy See Property Authority published on August 10. According to the joint regulations of this institution and the Holy See Economic Secretariat, the contribution of the Holy See Property Administration to the Holy See of Rome in the year is equivalent to the surplus earned.
The publication of the financial statements of the Holy See’s property authority was accompanied by a letter from the institution’s president, Archbishop Nunzio Galantino. The archbishop explained that the purpose of publishing the financial statements “is to clearly demonstrate professionalism, dedication and transparency, and integrity in the field of administration and management, as the great economist Antonio Genovesi did in 18 as the century has said.”
The financial statements for the current year list the direct and indirect taxes paid by the Holy See Property Administration for the real estate it manages and owns in Italy, such as: city property tax and corporate income tax. According to Archbishop Galantino, the transparency of figures helps to get rid of preconceived prejudices and “groundless speculations” about issues such as the Church’s property management institution, its administration or tax obligations.
Furthermore, since the publication of the Apostolic Charter “Go Proclaim the Gospel” more than a year ago, “the nature and tasks entrusted by Pope Francis to the Holy See Property Administration have become more and more clear.” Through “comprehensible, efficient and transparent procedures, the Pontifical Authority of the Holy See is called to contribute to the Church’s evangelizing mission”. “We are all now convinced, in this regard, that the Church’s reputation for stewardship of the generous entrustments of the faithful is a prerequisite for the credibility of its proclamation,” the presidency stressed. This is a big reason why the Vatican Property Authority has published its financial statements for three consecutive years.
Archbishop Galantino also pointed out that “through the cooperation and professionalism of the whole community of the Pontifical Property Authority, the process of achieving the goals of the three-year development plan continues”. The goal of all this is “to provide financial support for the mission of the Pope and the institutions that share his evangelizing mission”.
In keeping with the vision of transparency, this financial statement provides an overview of work results and economic difficulties. In 2022, in addition to the Covid-19 pandemic, there are “negative financial and economic consequences” of the Ukrainian conflict, coupled with phenomena such as inflation and soaring energy prices, which give the Vatican’s property authority the management of multiple areas of operation performance has had a negative impact.
As far as electricity costs are concerned, figures from the estate management show an increase of 32 million euros compared to 2021. In chattel management, a deficit of 6.7 million euros in 2022 compared to a surplus of 19.85 million euros in 2021. This results in 2022 being 26.55 million euros less than the 2021 balance. Administrative costs climbed from 10 million euros to 13 million euros. As for the financial investment of the Holy See Property Authority, the settlement amount on December 31, 2022 is approximately 1.777 million euros.
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2023-08-12 11:23:11
