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The Holy See reported about NZ$1.56 billion in net assets that had never been reported before, the Vatican’s final figures for 2014 showed.
The accounts were produced using new reporting procedures that are more in line with international accounting standards.
Last year, it was explained that the previously unreported assets did not represent “illegal, illicit or badly managed funds”.
Rather, the assets were held in administrative offices that were not considered part of the main institutions of the curia.
The 2014 accounts showed profits from the Vatican Museums, “cultural activities” and investments offset the deficit in the consolidated budgets of the Roman Curia and Vatican communications outlets to help the Vatican end the year NZ$63million in the black.
New Vatican rules went into effect on March 1, governing the guidance, oversight and control of Vatican financial and administrative activities.
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