Curia records Budget surplus - first in three years

The Maltese Curia last year recorded a surplus of €114,279, financial controller Robert Agius told a press conference today.

It was the first surplus in three years.

In the previous year the Curia had a deficit of €1.7 million, caused mainly by the Pope's visit.

Mr Agius said that revenue in 2011 was of €24.7m, a slight increase from €24.5 in 2010. Collections and donations totalled €7.7m, a drop from €8.5 in the previous year. Income increased from other sources such as property and fees.

Expenditure reached €24.9m from €26.2m in 2010. The biggest outlay was in salaries to lay employees totalling €10.2m, operational costs of €9.7m and remuneration to priests at €2.4m. The Church made donation €486,00 of which €189,000 were for the anti-divorce campaign.

The Curia, however, made a capital gain on investments of €267,665 compared to €3,602 in the year before. Most arose from the sale of Malta government stocks, which were reinvested in APS bank.

Taxation reached €939,000.

Mgr Charles Cordina said measures had been taken to cut costs particularly with regard to water and electricity.

He said the role of the Church was not just in spread God's Word but also the provision of important care services to vulnerable persons including children, the elderly and those with disabilities.

He thanked volunteers for their invaluable work.

The press conference was held at Fra Diego children's home. Mr Agius said that children's homes were running at a deficit and relied on the assistance of the Curia's central fund,which last year handed out almost €200,000 for the purpose. They also relied heavily on donations.