Jakarta, CNN Indonesia —
Vatican, the seat of the center of the Roman Catholic church disclosed their asset ownership of more than 5,000 property around the world. This is part of financial statements the most detailed ever published by the Vatican.
The report is contained in two documents, namely the 2000 consolidated financial report for the Holy See, and the inaugural public budget for the Holy See’s Inheritance Administration (APSA).
APSA is a kind of general accounting office, which records reports on a number of real estate and investments, payroll for workers, including the human resources (HR) department.
The APSA report reveals the Vatican has 4,051 properties in Italy and about 1,120 assets abroad, excluding its embassies around the world. This report is listed in 30 pages released by APSA.
Quotes Reuters, Sunday (25/7), between the two documents, which has never existed before, the Vatican also released more than 50 pages of financial statements.
About 14 percent of Vatican properties in Italy are rented at market rates. Meanwhile, other assets are rented out at lower prices because most of the church employees use them.
The report also said that about 40 percent of all Vatican property is in the form of institutional buildings, such as schools, monasteries and hospitals.
A number of Vatican investment properties are also located in upscale areas of London, England. Then, Geneva, Lausanne, and Paris.
However, one of the buildings in the Kensington district of London has caused heavy losses to the Vatican after it was purchased by the Vatican Secretariat of State in 2014.
The head of the Vatican’s Secretariat for Economic Affairs (SPE) Father Juan Antonio Guerrero said the building would soon be sold to cover further losses.
For the loss, the Vatican will hold a trial against 10 people, including a prominent cardinal, related to the purchase of the property in London. They are suspected of committing financial crimes, embezzlement, money laundering, fraud, extortion, and abuse of office.
Guerrero said the trial of the 10 men would be a turning point in the credibility of Vatican finances. “That such an incident should not happen again,” he said.
Last year, Pope Francis revoked the Secretariat of State’s control of Vatican finances and transferred them to APSA with SPE oversight.
The inaugural financial report released by APSA showed the Vatican had a deficit of 64.8 million euros last year. However, the deficit improved compared to 79.2 million euros in 2019.
To cover last year’s deficit, around 50 million euros will be raised from Peter’s Pence, a fund donated to help the Pope carry out the work of the church around the world.
The COVID-19 pandemic has also hit the Vatican’s earnings last year. Peter’s Basilica and the Vatican Museums, touted as a cash cow for receiving 6 million visits annually, have had to close.
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