Vatican financial overhaul finds $1.2 billion in assets
The Vatican had more than $1.2 billion in assets off the books before an accounting cleanup last year, the Holy See said Thursday, announcing its financial statements for 2014.
Since becoming pontiff in 2013, Pope Francis has brought in large-scale reform of the Vatican’s murky finances. The publicly released statements are “the first important steps” in the financial overhaul, led by Australian Cardinal George Pell, the Vatican said.
Overall, the Vatican had a deficit of $27.9 million in 2014, versus the $26.6 million deficit reported the previous year.
The Vatican’s biggest expense was a staff payroll of 2,880 people, costing $137.7 million last year.
| The Associated Press
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