The Church registered a deficit of €402,000 at the end of 2013, according to its financial accounts published yesterday.
Its finances are once again in the red after it had made a financial turnaround in 2012 when it registered a profit of close to €1 million after a loss of more than €3.5 million over three years between 2008 and 2011.
In 2013, its income from investments was just over €5 million, while it collected €7.5 million from donations.
Its proceeds from fundraising, adverts and fees amounted to €13.4 million. Capital gains from investments were slightly above €1 million.
Apostolic Administrator Charles Scicluna said in a statement he was grateful for people’s generosity.
“We are doing our best to serve you through work and initiatives that impact people from all walks of life, while at the same time taking care of the heritage bestowed on us by our fathers,” Mgr Scicluna said.
More than €3 million was spent on the upkeep of churches. Another €301,000 was spent on charitable donations.
The Church also spent €12 million on wages of lay people working with the Church and over €2.5 million on priests’ salaries.
The Church paid €586,000 in taxes, while its operational expenses amounted to €8.8 million. The Church manages 70 parishes.
We are doing our best to serve you through work and initiatives
It also runs 12 homes hosting 150 children, four homes for people with disabilities with 103 residents, 14 old people’s homes accommodating 726 elderly people and another 14 homes for immigrants hosting 400 individuals.
The subsidies given by the Church for the homes accommodating children and the elderly alone amounted to close to €170,000.
It also runs 40 kindergarten and primary schools, as well as 20 secondary schools.
The Church also spent €362,000 on subsidies for its radio station and media centre.
Another €387,000 was spent on subsidies for the Church Tribunal, while subsidies for pastoral work totalled €195,000.