Church posts better financial situation but still in the red

The Archdiocese of Malta netted Lm3,787,385 from collections during Mass and donations to Church homes last year.

A financial report published yesterday by the Curia shows that another Lm2,510,000 were raised through Church investments, deposits and loans, a figure that remained unchanged when compared to 2002.

"The two figures put together, which also include inherited money and property, as well as donations made to the major and minor seminaries, monasteries and other entities, amount to 73 per cent of all income," Robert Agius, the Curia's financial controller said. The rest came from revenue from sale of property, fees from residents in homes and media activities, the report showed.

Speaking at a news conference in the refectory of the Old Seminary, now the Curia's meeting room, Mr Agius said income from donations and church collections amounted to Lm14,000 more than 2002, adding that donations from church collections had actually dwindled by Lm108,000 in a year.

"What compensated for this loss in 2003 was an increase of Lm122,000 that came from inheritance," Mr Agius explained.

Income from investments, deposits and loans was stable due to an increase in dividends from the shares at APS Bank, of which the Church holds 83 per cent of the issued share capital.

When comparing income and expenditure for 2003, however, the accounts show a net deficit of Lm130,000, an improvement on the Lm555,000 net deficit registered in 2002. Though total income in 2003 amounted to Lm8,606,535, total expenditure stood at Lm8,736,520.

Mr Agius explained that among the most costly operations were liturgical and administrative activities in parishes, church repairs and maintenance. These amounted to about Lm2 million, salaries paid to lay employees (Lm1,995,832) and remuneration to priests and nuns, including Mass stipends (Lm1,029,055).

Expenditure included grants and subsidies to four homes for the elderly run by the Church. These received Lm119,000 from the central fund. A sum of Lm136,000 went into subsidising radio RTK, the weekly Il-Gens illum and the TV unit at the Media Centre.

With regard to Dar tal-Providenza, Mr Agius said the home registered a deficit of some Lm200,000 for the second year running.

Income was derived from donations and inheritances. Another major injection came from the Kerygma volleyball marathon which, however, failed to raise the desired amounts in 2002 and 2003.

The home had a total wage bill of Lm1.1 million.

The accounts show that the net assets of the Archdiocese amounted to almost Lm56 million, including tangible and financial assets.

Fr Moses Borg, administrative secretary, explained that religious orders and the 15 parishes run by priestly orders were not included in the report. He explained that these did not fall under the Curia but were accountable to their respective general superiors. The Gozo Diocese was excluded.

"This is why schools and institutions run by religious orders were not included," Fr Borg said.

Fr Charles Cordina, pastoral secretary, said the Archdiocese did not own the assets but was a trustee: "We appreciate the trust expressed by people in the work of the Church, especially because the Church relies on donations to finance resources that are used for Christian formation and evangelisation".

Fr Cordina said the deficit would have been much bigger if the invaluable work of volunteers were to be accounted for financially.

"The Church would not be able to function without the contribution of dedicated lay people who give of their own free time to help in liturgy, evangelisation, maintenance of churches and other premises, feasts and fund-raising activities," Fr Cordina said.