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.   
      
   ___________________________________________________________   
      
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   www.visnews.org and www.vatican.va   
      
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    * Origin: Sursum Corda! BBS=Huntsville AL=bbs.sursum-corda.com (1:396/45)