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Vatican ‘finds’ $1.4 billion in assets

Under new reporting procedures that are more in line with international accounting standards, the Holy See reported A$1.4 billion in net assets that had never been reported before and in a consolidated form.

The Vatican’s final figures for 2014 also showed a continued budget deficit on the part of the Roman Curia and nearly double the profits brought in by entities falling under the separate Vatican City State budget.

In fact, the profits coming from the Vatican Museums, “cultural activities” and investments offset the deficit in the consolidated budgets of the Roman Curia and Vatican communications outlets to help the Vatican end the year A$60 million in the black.

The Council for the Economy financial statements were published on 16 July and prepared by the Prefecture for the Economic Affairs of the Holy See, the Vatican’s budget management office.     [Full Story]


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