I am not saying the church is bankrupt, I am saying it has gone threw difficult times.
HOLY SEE NO LONGER IN THE RED
President of the Vatican Prefecture for Economic Affairs, Archbishop Sergio Sebastiani, announced on Friday that the Vatican has a budget surplus.
He said Consolidated Revenues and Expenses for the fiscal year 1999 registered a net gain of $A8.41 million, $A5.88 million more than in 1998.
"I am very happy to report that in 1999, for the seventh consecutive time, the Vatican's Net Consolidated Revenues and Expenses has shown a net gain," the Archbishop said.
In the years following Vatican II, the renewal, extension, and internationalisation of the Roman Curia caused expenses that the Vatican could not meet with its limited direct income, and consequently the financial balance was in the red for many years.
In 1991, Pope John Paul II told presidents of the world's the Episcopal Conferences that canon 1271 of the Code of Canon Law requires their dioceses to contribute to the maintenance of the Apostolic See. The income derived from this disposition went from a few million dollars in 1992 to more than $A33.64 million in 1999.
He said that the Jubilee Year had caused expenses to increase by 3.7%, but also boosted revenues by 5.8%.
Thats all I know
Peace