Holy See financial statements for 2004

 Cardinal Sergio Sebastiani, president of the Prefecture of the Economic Affairs of the Holy See, announced yesterday in a press conference on the Holy See consolidated financial statements for 2004 that the year closed with a surplus of 3.08 million euro, the difference between an income of 205.66 million euro, and an expenditure of 202,58 million euro. In terms of the institutional activity of the Holy See (Secretariat of State, congregations, councils, tribunals, the Synod of Bishops and various other offices), the president indicated that the sector closed the year with a deficit of 23.2 million euro, an increase with respect to 2002 which had closed with a deficit of 19.7 million euro. Cardinal Sebastiani pointed out that the sector of financial activities (7 consolidated administrations, the most important of which is the Extraordinary Section of the Administration of the Patrimony of the Apostolic See, APSA) showed a surplus of 6.1 million euro, an improvement on last year which closed with a deficit of 11.6 million euro. For its part, the real estate sector closed with a surplus of 24.9 million euro, up on last year's closing figure of 22.4 million euro. The activity of the media institutions connected with the Holy See (Vatican Radio, the Vatican Printing Office, L'Osservatore Romano newspaper, the Vatican Publishing House and Vatican Television), closed with a deficit of 4.3 million euro, three million more than 2003. The final part of the economic report, concerning other income and expense, closed with a negative result of 546,000 euro. Source: VIS

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