Church in €402,000 deficit in 2013

The Church’s main source of revenue in 2013 was composed of charitable donations and collections, after income from its investments.

In 2013, the Church registered a net deficit of €401,000 after registering a surplus of €976,000 in 2012.

Incomes from property increase by over €110,000 to €354,000, but investment income fell from €5.5 million to €5.1 million, while donations fell from €9.7 million to €9.5 million.

The church’s remuneration to priests increased by €90,000 to €2.6 million, and lay employees’ salaries increased by €1 million to €12 million, as did operational costs to €10.9 million from €9.8 million. The major cost item was a €1.27 million salary bill in the finances section.

The Church also had to subsidises its own entities with €158,000 for childrens’ homes, €108,000 for old people’s homes, €362,000 for its media house, €387,000 for the ecclesiastical tribunals, €117,000 to its young diocesan commission, and €195,000 for pastoral work.