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IIIIIIIII
The Message -- for Catholics of Southwestern Indiana
March 4, 1988
'Appreciation
Over 200 people attended an Appreciation Buffet supper and meeting at Rivet High School, Vincen-
nes, last week. Above, fourth grade students from Flaget School, Vincennes, entertains the guests.
Tina Thomas, left, a second grade teacher from Flaget School, Vincennes, gives a video tape
presentation.
-- Message Photo by Message Photos by Barbara Paul
Vatican's 1986
Continued from page 1
The report put in stark relief
the growing financial problems
that have been plaguing the
Vatican since 1976, when it
first announced an operating
deficit. In that year observers
estimated the deficit at $6.4
million. Actual figures were not
released.
• In 1986, according to the
report, the total expenses of the
Holy See were $113,981,598.
Income was $57,258,223,
covering only 51 percent of the
expenses. The deficit of
$56,723,375 was made up com-
pletely by drawing on that
year's contributions from
Catholics and reserves from
previous contributions.
The contributions to the
pope, called Peter's Pence,
were used by popes until the
mid-1970s almost exclusively
for such things as disaster
relief, charitable activities and
assistance to church projects in
missionary lands. Starting in
the late 1970s they have been
used increasingly -- and in re-
cent years exclusively -- to
cover operating costs of the Ho-
ly See.
Last year for the first time the
Vatican sent the world's
bishops an audited financial
report, covering operations in
1985. But it sent the report
i i
ii
NEIDIG
under strict secrecy. This year's
report was the first that the
bishops were allowed to
release.
The secret 1985 report, sent
last March to the world's
bishops and later obtained by
National Catholic News Ser-
vice, showed total expenses of
$83.7 million and income of
$44.6 million, leaving a deficit
of $39.1 million.
In 1985 nearly all of the
deficit was covered by Peter's
Pence and similar contributions
during the year, which
amounted to $36.9 million.
The decline in the value of
the dollar against other world
currencies accounted for a large
part of the dramatic 36 percent
increase in the Holy See's
budget and 45 percent increase
in its deficit between 1985 and
1986.
Most of the Holy See's ex-
penses are in lire, the Italian
currency it uses to pay salaries
and buy goods and services. Its
income, however, is weighted
more heavily toward the dollar,
)articularly in its income-
iii
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I
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Phone: (812) 473-4005
II I
.producing investments abroad
and the contributions it
receives from around the world.
At the end of 1985, a U.S.
dollar could buy 1,678 Italian
lire. At the end of 1986 the ex-
change rate was 1,351 lire per
dollar.
In Italian currency, the Holy
See's 1986 budget was 154
trillion lire, just 9.6 percent
higher than its 1985 budget of
140.5 trillion life.
The Vatican's decision to per-
mit release of the report itself
for 1986, rather than just sum-
mary figures given out occa-
sionally in the past, followed
years of efforts by several pro-
minent church figures, led by
now-retired Cardinal John Krol
of Philadelphia, to get the
Vatican to give a regular public
accounting of its finances. " :
The largest expense item in
the 1986 report was $57.9
million for personnel -- $50.6
million for wages and benefits
of current employees and $7.3
million for retirement benefits.
The Vatican must pay retire-
ment benefits out of its yearly
See VATICAN'S 1986page 16
Vincennes
Continued from page 1
on the teachers and the system
itself.
Commenting on a newspaper
story last week, which mention-
ed "Rivet closing" in a
headline, Ulrich said it was im-
portant to remember that clos-
ing was "only one of the many
options the school board will be
looking at."
Ulrich, in his second year as
superintendent and principal,
said the system "offered a
sound, basic curriculum,"
without "the frills and elec-
tives" available at the public
schools.
He said a very large percen-
tage of Rivet graduates go on to
colleges and university and
other post-secondary schools.
Of 27 graduating seniors last
year, he said, 26 went on to
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About community support
for the Catholic schools, Ulrich
said there was "a solid core of
zealous backers of the school
system who want to maintain a
K-12 system." The number of
such zealous supporters in-
cludes board members and
members of the community, he '
says, "but whether that number
is enough to keep the system
open is to be determined."
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