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Evansville, Indiana
March 4, 1988     The Message
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March 4, 1988

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2 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 SCHNELL VILLE FOR COMPLETE ELECTRICAL SERVICE H.G. FISCHER RT. 1 ST. ANTHONY VINCENNES American National Bank Bicknell - Sandborn Vincennes Drive-in Facilities - Member F;D.I.C. A Full Service Bank I LIFE ' HEAL TH ' AUTO ' HOME MEDICARE SUPPLEMENT , FINANCIAL SERVICES JAMES JETT & ASSOCIATES 514 S. Green River Road P.O. Box 8104 Evansville, Indiana 47715 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 JASPER SER VICE AND SHOPPING GUIDE i Buehlers I.G.A. "THE THRIFTY HOUSEWIFE'S SOURCE OF SAVINGS" QUALITY FOODS and MEATS Also Huntinsburg and Oakland City KREMPP LUMBER CO. 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