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PAGE 2 — The Georgia Bulletin, January 19, 1989 Vatican Given $50.3 Million In Peter's Pence Collection BY JERRY FILTEAU WASHINGTON (NC) - The Holy See is still show ing huge .yearly deficits, but its just-issued 1987 financial report shows im provement in some areas. The Vatican covered most of a $63.8 million deficit with a record $50.3 million in Catholic con tributions to Peter’s Pence, a discretionary fund for the pope. But for the remaining $13.5 million it had to use up the last of reserves left over from Peter’s Pence contributions of earlier years. Those reserves “have now been complete ly exhausted,” the report says. On the other hand, Vatican publishing and broadcasting activities, which account for about one-third of the deficit, lost a little less money in 1987 than in 1986. The new report, covering the Holy See’s income and expenses in 1987, was sent to the world’s bishops in January and was released by the National Conference of Catholic Bishops in Washington Jan. 16. One of the most signifi cant 1987 numbers was the $50.3 million collected in a single year for Peter’s Pence, a fund made up of voluntary contributions to the pope by Catholic people and institutions around the world. In 1986 the Peter’s Pence collection brought in only $32 million. Ten years earlier the figure was less than $10 million. The largest contribution to Peter’s Pence comes from the United States, where most Catholic parishes take up a special collection for the pope on the last Sun day of June or first Sunday of July. The bottom-line figures of the 1987 financial state ment — a deficit of $63.8 million on expenses of $132.7 million and income of only $68.9 million — were released by the Vatican press office last October. But the full report, per mitting comparative anal ysis of specific budget areas over recent years, was not available at that time. The 1987 report shows personnel costs were still the largest expense at $71.7 million, up from $45.3 million in 1985 and $57.9 million in 1986. Communications opera tions — radio and publishing together — were the second-largest cost item with combined expen ditures of nearly $22 million. Administrative expenses were $12 million, partially offset by fees and other reimbursements which brought in about $7.2 million. The report noted that Vatican efforts to maintain the “international nature” of the church’s central ad ministration include fre quent international com munications and paying ex penses of poorer bishops when they travel to Rome for Vatican meetings. The Holy See’s ad ministrative costs in 1987 included nearly $1.8 million for travel of diocesan bishops and Vatican per sonnel, $1.7 million for mail and telecommunications, and $830,000 for printing and publishing, the report said. Vatican Radio, which broadcasts locally and worldwide on several dif ferent frequencies, is run by the Jesuits but funded by the Vatican. It cost $3.7 million to run in 1985, $3.9 million in 1986, and $4.8 million in 1987. In addition to operating expenses, the Vatican in vested nearly $10 million in new radio equipment in two years: $6.5 million in 1986 and $3.2 million in 1987. The report said that when administrative and personnel costs for Vatican Radio were added to its other costs, the total 1987 deficit for the broadcasting operation was $17.8 million. Operating costs for publishing activities — con sisting of the Vatican Polyglot Press, the Vatican Publishing Office and L’Osservatore Romano, a daily Italian-language newspaper with several weekly editions in other languages — rose from $7.6 million in 1985 to $11.7 million in 1986 and $13.9 million in 1987. Publishing income grew faster, however — from $11.7 million in 1985 to $17.1 million in 1986 and $20.7 million in 1987. The 1987 report said that after adding in ad ministrative and personnel costs, the Vatican Polyglot Press had a net profit of $187,000, the Vatican Publishing Office had a net profit of $117,000, and L’Osservatore Romano had a deficit of nearly $5.4 million. In 1986, to cover an overall deficit of $56.7 million, the Holy See used all $32 million that it col lected in Peter’s Pence that year plus $24.7 million which it still had in reserve from collections of previous years. It said in its 1986 report that those reserves “are by now near ly exhausted.” Its 1987 report — that with an additional $13.5 million withdrawal those reserves are now “com pletely exhausted” — means that if new Peter’s Pence contributions do not cover future deficits the Vatican will have to find other contributed funds or dip into the Patrimony of the Holy See, a 60-year-old investment fund already weakened by withdrawals used to cover earlier deficits. In October, when the 15-member Council of Car dinals advising the Holy See on financial matters met in Rome, it reported that Peter’s Pence con tributions for the first nine months of 1988 were $36.8 million, just slightly above the $35.8 million received in the first nine months of 1987. The 1987 financial state ment was only the second officially released by the Holy See. It sent a complete 1985 financial statement to the world’s bishops for the first time but asked them to keep it confidential. Copies were leaked to the press. When it sent its 1986 state ment to the bishops, it gave them permission to make the statement public. 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SALAD BAR with above $1.89 Outside Catering Available Located In The Old Morrison’s Cafeteria In The Roswell Mall Hours: Mon.-Fri. LUN CH-11 am-2:30pm DINNER-4:30pm-9pm 641-7238 SATURDAY ll:30am-9pm SUNDAY ll:30am-8pm postleship of rayer Beginning this month. The Georgia Bulletin will publish the monthly prayer intention of the pope. These intentions, which are “concrete problems wnich trouble the universal Church," are included in First Satur day devotions and may also be useful to those who wish to incorporate the prayer request of the pope in their own prayers. These intentions have been made known monthly for over 100 years through The Apostleship of Prayer in New York. The January intention is “For cooperation among all believers.” The fuller explanation is “that religious liberty be respected everywhere and that all believers collaborate in the search for justice and peace." The February intention will be published at the beginning of the month, under this same heading. 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