The Church has reported a Lm74,000 drop in revenue from collections during Masses last year.

Church officials said the decline in contributions may have been a result of lower Church attendances and lower revenue from the celebration of feasts and specific fund-raising projects in the parishes.

Financial controller Robert Agius pointed out that the collections were not declining as much as the attendances, which could mean people were donating more.

Revenue from investments, which account for just over a quarter of all Church revenue, dropped by Lm419,000. Part of the decline when compared to 2005 can be explained  by the fact that in 2005 the Church received one-off arrears on interest following adjustment of Church bonds. Other reasons for the decline were  the result of international currency fluctuations and lower income from Homes.

Church entities, however received Lm183,000 more in state grants. There was a Lm73,000 increase in revenue from fund raising, an Lm82,000 increase in revenue from residents in Church homes and other increases of Lm80,000.

The officials said Church entities were being increasingly careful in their spending and therefore subsidies given by the Curia's Central Fund declined by Lm44,000 last year. The Archdiocese  itself reduced spending by  Lm714,000 from 2005, leaving a balance of  Lm628,000 distributed among some 100 entities. This included Lm219,000 in gains on investments.