Note on Vatican's 2006 Financial Statement

VATICAN CITY, JULY 6, 2007 (Zenit.org).- Here is the statement released today by Cardinal Sergio Sebastiani, president of the Vatican's Prefecture for the Economic Affairs of the Holy See, on the Holy See's consolidated financial statement for the fiscal year 2006.

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On Monday, July 2, 2007 the 41st meeting of the Council of Cardinals for the Study of the Organizational and Economic Problems of the Holy See took place in the Vatican City State. His Eminence Cardinal Tarcisio Bertone chaired it.

The Cardinals examined the 2006 Consolidated Financial Statement of the Holy See and that of the S.C.V. Governorate, both closed with a profit.

As usual, I have the honor of presenting the Consolidated Financial Statement of the Holy See for the fiscal year 2006 with my staff. As a consolidated financial statement, it contains the income and the expenses of the various pontifical administrations that are within the area of consolidation. It includes the 2 Sections of the Secretariat of State, 9 Congregations, 3 Tribunals, 11 Pontifical Councils, the Apostolic Camera, the Prefecture of the Papal Household, the Office for liturgical celebrations of the Supreme Pontiff, the Press Room of the Holy See, the Central Office of Statistics of the Church, 5 Pontifical Commissions and 2 Pontifical Committees, 3 Pontifical Academies and the Institutions connected with the Holy See: the Vatican Secret Archives, the Vatican Library, the Apostolic Almonery, the Synod of Bishops, the Vatican Publishing House, the Vatican Printing Press - L'Osservatore Romano, Vatican Radio, the Vatican Television Center. Moreover, 118 Pontifical Embassies and 9 delegations at International Organizations must be added.The good news for the current operating statement is that, after three consecutive years, it has closed with a surplus of 2.4 million euro, which represents the less significant value, after the results registered both in 2005 (equal to 9.7 million euro) and in 2004 (equal to 3.1 million euro).

I turn now to the analysis of the principal entries of the operating statement, which as usual are expressed in the following four categories:

1) Institutional Activity. This sector encompasses all the Dicasteries of the Roman Curia: the Secretariat of State, the Papal Embassies, the Roman Congregations, the Pontifical Councils, the Synod of Bishops and other Offices. As these assist the Holy Father more closely in his mission as Universal Pastor at the service of the Local Churches and also for the benefit of humanity as promoter of peace in today's world, they do not produce income. This is the significance of the Canon 1271 C.J.C. prescriptions, which invite the Bishops to come freely to the aid of the necessities of the Holy See by supporting its activity, in the same way that Canon 1263 C.J.C. prescribes that the parishes support the activity of the diocesan curia. In 2006 the volume of donations that came from Episcopal Conferences, dioceses, religious Institutes, faithful and various Entities increased from 73.9 million euro in 2005 to 86 million euro in 2006. Within this sector, the most positive results were both in the income from Canon 1271 c.j.c. which rose from 21.5 million euro to more than 24 million euro in one year, for an increase of about 12%, and above all in the volume of contributions from institutions, foundations and other entities which shows significant revenues, equal to 61.2 million euro (against 51.7 million euro in 2005).

As for costs of the entire sector, which are directly connected with the activity of the Roman Curia to assist S. Peter's Successor in his ministry, we can note a rise slightly higher than 5 million euro: from 121.3 million in 2005 to 126.2 million. This variation was due above all to the cost incurred for personnel for the adjustment both of remunerations to the inflation rate and of the compulsory contributions to the pension funds. Also general and administrative costs increased from 13.4 million in 2005 to 15.3 million in 2006, as did those for Papal Embassies and for the maintenance of the Apostolic Nunciatures (from 19.6 million to 20.6 million euro).

Costs for "maintenance and repairs" decreased slightly from 10.4 million euro in 2005 to 9.8 million euro. Also in 2006 the works to consolidate the foundations, the floors and the vertical walls of the building in Piazza di Spagna (seat of the Congregation for the Evangelization of Peoples) continued. Moreover, other expenses for extraordinary maintenance related to the buildings of Sant'Uffizio (for systems replacement), Propilei (for lifts replacement and fronts finishing) and Palazzo Convertendi must be considered.

Therefore, this important sector of the Institutional Activity closed with a deficit of 31 million euro, a decrease compared to the 2005 institutional deficit which stood at 36.9 million euro.

2) Financial Activity. In this sector are included the financial activities of the consolidated administrations, especially those of APSA Extraordinary Section (Administration of the Patrimony of the Apostolic See).

The above-mentioned increase in contributions partially counterbalanced the serious fall in the net balance profit of the financial sector which closed with a gain of 13.7 million against 43.3 million in 2005. Therefore, a decrease by about 29 million euro occurred, due above all to a sudden, very strong reversal of trend in fluctuations of the rate of exchange, especially of the US Dollar.

Indeed, a net positive fluctuation of 21.7 million euro was registered in 2005 while a net loss of roughly 7 million euro occurred in 2006 due to fluctuations in the rates of exchange. In this sector the results seesaw by nature; I remember that in 2004 a net loss of 11 million euro occurred whereas in 2005, as already said, the fluctuations were positive, equal to 21.7 million euro.

The revenues from coupons and dividends increased slightly, rising from 25.5 million euro to 28.5 million euro in the two fiscal years. Also interest payable increased in comparison with 2005, rising from an amount of 8.1 million to 9.4 million euro.

3) The Real Estate sector closed with a net gain of 32.3 million euro, higher than that of 2005 which stood at roughly 22.4 million. This positive result can be attributed mostly to appreciated values from the sale of some real estate, whereas in 2005 increased values were equal to only 1.3 million euro. In the financial year under examination total costs amounted to about 27 million euro, whereas revenues reached 59.3 million euro.

4) In the activity of the Four Institutions connected with the Holy See the following media concerns are included: Vatican Radio, the Vatican Printing Press -- L'Osservatore Romano, the Vatican Television Center and the Vatican Publishing House.

These activities as a whole strongly support the ministry of the Peter's Successor by broadcasting the Pope's voice and image.

The result of this sector is a net deficit of 12.8 million euro; it is substantially due to the negative results of Vatican Radio (about 23.8 million euro) and of "L'Osservatore Romano" (4.4 million euro).

On the contrary, the Vatican Printing Press closed its financial statement with a surplus of 1.3 million euro, as well as the Vatican Television Centre which closed with a profit of 421 thousand euro, against 650 thousand euro in 2005.

Also the Vatican Publishing House closed its 2006 financial statement with a surplus of 1.3 million euro and with a rise of 10 million euro in the volume of the activity. As everybody knows, the exercise and the guardianship of all copyrights (perpetually and all over the world) have been entrusted to the Vatican Publishing House over all the documents by means of which the Supreme Pontiff exercises His teaching.

The last entry of the operating statement pertains to Other Income and Expense. This presents a positive result of 184 thousand euro due to contingent assets from nearly all the consolidated Administrations.

The financial statement was submitted to the examination of the Council of International Auditors and then to the Council of Cardinals for the Study of the Organizational and Economic Problems of the Holy See. On 5 July 2007, I had the privilege of presenting it to the Holy Father. It will now be translated into various languages and sent to the Bishops and the Superiors General of Religious Institutes of Men and Women.

We are now at your disposal to reply to your questions.

Pope's Address to European Professors

"A New Humanism for Europe. The Role of the Universities"

VATICAN CITY, JUNE 24, 2007 (Zenit.org).- Here is the address Benedict XVI gave to participants of the European Meeting of University Professors, gathered in Paul VI Hall. The four-day meeting ended today in Rome.

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Your Eminence,

Distinguished Ladies and Gentlemen,

Dear Friends!

I am particularly pleased to receive you during the first European Meeting of University Lecturers, sponsored by the Council of European Episcopal Conferences and organized by teachers from the Roman universities, coordinated by the Vicariate of Rome's Office for the Pastoral Care of Universities. It is taking place on the fiftieth anniversary of the Treaty of Rome, which gave rise to the present European Union, and its participants include university lecturers from every country on the continent, including those of the Caucasus: Armenia, Georgia and Azerbaijan. I thank Cardinal Péter Erdő, President of the Council of European Episcopal Conferences, for his kind words of introduction. I greet the representatives of the Italian government, particularly those from the Ministry for Universities and Research, and from the Ministry for Italy's Cultural Heritage, as well as the representatives of the Region of Lazio and the Province and City of Rome. My greeting also goes to the other civil and religious authorities, the Rectors and the teachers of the various universities, as well as the chaplains and students present.

The theme of your meeting -- "A New Humanism for Europe. The Role of the Universities" -- invites a disciplined assessment of contemporary culture on the continent. Europe is presently experiencing a certain social instability and diffidence in the face of traditional values, yet her distinguished history and her established academic institutions have much to contribute to shaping a future of hope. The "question of man", which is central to your discussions, is essential for a correct understanding of current cultural processes. It also provides a solid point of departure for the effort of universities to create a new cultural presence and activity in the service of a more united Europe. Promoting a new humanism, in fact, requires a clear understanding of what this "newness" actually embodies. Far from being the fruit of a superficial desire for novelty, the quest for a new humanism must take serious account of the fact that Europe today is experiencing a massive cultural shift, one in which men and women are increasingly conscious of their call to be actively engaged in shaping their own history. Historically, it was in Europe that humanism developed, thanks to the fruitful interplay between the various cultures of her peoples and the Christian faith. Europe today needs to preserve and reappropriate her authentic tradition if she is to remain faithful to her vocation as the cradle of humanism.

The present cultural shift is often seen as a "challenge" to the culture of the university and Christianity itself, rather than as a "horizon" against which creative solutions can and must be found. As men and women of higher education, you are called to take part in this demanding task, which calls for sustained reflection on a number of foundational issues.

Among these, I would mention in the first place the need for a comprehensive study of the crisis of modernity. European culture in recent centuries has been powerfully conditioned by the notion of modernity. The present crisis, however, has less to do with modernity's insistence on the centrality of man and his concerns, than with the problems raised by a "humanism" that claims to build a regnum hominis detached from its necessary ontological foundation. A false dichotomy between theism and authentic humanism, taken to the extreme of positing an irreconcilable conflict between divine law and human freedom, has led to a situation in which humanity, for all its economic and technical advances, feels deeply threatened. As my predecessor, Pope John Paul II, stated, we need to ask "whether in the context of all this progress, man, as man, is becoming truly better, that is to say, more mature spiritually, more aware of the dignity of his humanity, more responsible and more open to others" ("Redemptor Hominis," 15). The anthropocentrism which characterizes modernity can never be detached from an acknowledgment of the full truth about man, which includes his transcendent vocation.

A second issue involves the broadening of our understanding of rationality. A correct understanding of the challenges posed by contemporary culture, and the formulation of meaningful responses to those challenges, must take a critical approach towards narrow and ultimately irrational attempts to limit the scope of reason. The concept of reason needs instead to be "broadened" in order to be able to explore and embrace those aspects of reality which go beyond the purely empirical. This will allow for a more fruitful, complementary approach to the relationship between faith and reason. The rise of the European universities was fostered by the conviction that faith and reason are meant to cooperate in the search for truth, each respecting the nature and legitimate autonomy of the other, yet working together harmoniously and creatively to serve the fulfilment of the human person in truth and love.

A third issue needing to be investigated concerns the nature of the contribution which Christianity can make to the humanism of the future. The question of man, and thus of modernity, challenges the Church to devise effective ways of proclaiming to contemporary culture the "realism" of her faith in the saving work of Christ. Christianity must not be relegated to the world of myth and emotion, but respected for its claim to shed light on the truth about man, to be able to transform men and women spiritually, and thus to enable them to carry out their vocation in history. In my recent visit to Brazil, I voiced my conviction that "unless we do know God in and with Christ, all of reality becomes an indecipherable enigma" (Address to Bishops of CELAM, 3). Knowledge can never be limited to the purely intellectual realm; it also includes a renewed ability to look at things in a way free of prejudices and preconceptions, and to allow ourselves to be "amazed" by reality, whose truth can be discovered by uniting understanding with love. Only the God who has a human face, revealed in Jesus Christ, can prevent us from truncating reality at the very moment when it demands ever new and more complex levels of understanding. The Church is conscious of her responsibility to offer this contribution to contemporary culture.

In Europe, as elsewhere, society urgently needs the service to wisdom which the university community provides. This service extends also to the practical aspects of directing research and activity to the promotion of human dignity and to the daunting task of building the civilization of love. University professors, in particular, are called to embody the virtue of intellectual charity, recovering their primordial vocation to train future generations not only by imparting knowledge but by the prophetic witness of their own lives. The university, for its part, must never lose sight of its particular calling to be an "universitas" in which the various disciplines, each in its own way, are seen as part of a greater unum. How urgent is the need to rediscover the unity of knowledge and to counter the tendency to fragmentation and lack of communicability that is all too often the case in our schools! The effort to reconcile the drive to specialization with the need to preserve the unity of knowledge can encourage the growth of European unity and help the continent to rediscover its specific cultural "vocation" in today's world. Only a Europe conscious of its own cultural identity can make a specific contribution to other cultures, while remaining open to the contribution of other peoples.

Dear friends, it is my hope that universities will increasingly become communities committed to the tireless pursuit of truth, "laboratories of culture" where teachers and students join in exploring issues of particular importance for society, employing interdisciplinary methods and counting on the collaboration of theologians. This can easily be done in Europe, given the presence of so many prestigious Catholic institutions and faculties of theology. I am convinced that greater cooperation and new forms of fellowship between the various academic communities will enable Catholic universities to bear witness to the historical fruitfulness of the encounter between faith and reason. The result will be a concrete contribution to the attainment of the goals of the Bologna Process, and an incentive for developing a suitable university apostolate in the local Churches. Effective support for these efforts, which have been increasingly a concern of the European Episcopal Conferences (cf. "Ecclesia in Europa," 58-59), can come from those ecclesial associations and movements already engaged in the university apostolate.

Dear friends, may your deliberations during these days prove fruitful and help to build an active network of university instructors committed to bringing the light of the Gospel to contemporary culture. I assure you and your families of a special remembrance in my prayers, and I invoke upon you, and the universities in which you work, the maternal protection of Mary, Seat of Wisdom. To each of you I affectionately impart my Apostolic Blessing.

Papal Message to "Together for Europe"

"A Matter of Defending a Human and Spiritual Heritage"

STUTTGART, Germany, MAY 14, 2007 (Zenit.org).- Here is the message sent on behalf of Benedict XVI by Cardinal Tarcisio Bertone, Vatican secretary of state, to the meeting Together for Europe, which took place Saturday. More than 230 representatives of movements and Christian communities participated.

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It is with great pleasure that I convey the cordial greetings of His Holiness, Pope Benedict XVI to the promoters and organizers and the numerous participants at the "Together for Europe 2007" event that is taking place on May 12 in Stuttgart.

The "Together for Europe" initiative that has come to life through the good ecumenical intuition of Roman Catholic, Protestant, Orthodox and Anglican groups, associations, movements and communities seeks to underline the need to re-affirm together faithfulness to the Gospel in a Europe that risks losing its original values and giving up on its Christian roots.

The words of the Venerable Pope John Paul II seem to be more relevant than ever: "I would like to mention in a particular way the loss of Europe's Christian memory and heritage, accompanied by a kind of practical agnosticism and religious indifference whereby many Europeans give the impression of living without spiritual roots and somewhat like heirs who have squandered a patrimony entrusted to them by history." (Post-Synodal exhortation "Ecclesia in Europa", 7).

Pope Benedict XVI echoes this consideration. From the beginning of his pontificate he has never missed an opportunity to recall the importance of safeguarding the Christian inheritance, the particular richness of the European continent.

The appeal not to lose our roots is like a repeated invitation to work concretely so that believers in Christ of different confessions may unite their efforts in the service of such a timely and relevant cause. It's a matter of defending a human and spiritual heritage that is vital for the authentic development of Europe. (…)

The Holy Father hopes therefore that the meeting "Together for Europe" may strengthen the desire for communion that animates lay movements and communities of the different churches; that it may contribute to overcoming prejudices, nationalism and historical barriers, and may urge people to work so that the spiritual dimension may not weaken in the Europe of post-modern times.

All human efforts would amount to nothing were we to be separated from divine support, because "Unless the LORD builds the house, they labour in vain who build" (Psalm 127). In counting on the help of the Almighty One you can look with trust to the present and to future, you can work with courage and perseverance knowing that the heavenly Father, in his providence and care, always renders fruitful the humble efforts of his children who want to do his will "on earth as it is in heaven".

It is with this spirit that Pope Benedict XVI invokes the divine blessing on all who participate in this meaningful event. To each and everyone I too assure you of my prayer and I take this opportunity to greet you cordially.

Cardinal Tarcisio Bertone
Vatican Secretary of State