VATICAN CITY
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(Vatican Radio) A communiqué released on Saturday by the Vatican’s Secretariat for the Economy provides a synopsis of the Annual Accounts of the Holy See, Vatican City State and Related Entities for 2015.
Please find the full text of the communiqué below:
The Holy See recorded a deficit of Euros 12.4 million in 2015. The main sources of income for 2015, in addition to investments, include the contributions made pursuant to Canon 1271 of the Code of Canon Law (Euros 24 million) and the contribution from the Institute of Works of Religion (Euros 50 million). As in previous years, the most significant expense for the Holy See is the cost of personnel. The Governatorato of the Vatican City State indicates a surplus of Euros 59.9 million for 2015, largely due to continued revenue from the cultural activities, especially those linked to the Museums. The 2015 Annual Accounts represent the first set of financial information prepared following the Vatican Financial Management Policies (VFMP), approved by Pope Francis on 24 October 2014, which are based on International Public Sector Accounting Standards (IPSAS). The Secretariat for the Economy informed the Council for the Economy that the journey towards a full implementation of the VFMP is firmly underway and highlighted that, however, a few more years will be necessary for this process to be completed and a full audit to be performed.
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