The deficit was lower in 2003 because the Archdiocese reduced its expenditure by Lm363,000, while increasing its revenue by Lm62,000. Compared to 2002, the Maltese Archdiocese spent Lm454,000 less on capital projects and Lm282,000 less on operational costs. On the other hand, there was an increase of Lm373,000 in salaries paid to its employees and members of the clergy.
Most of the revenue generated by the Maltese Archdiocese comes from donations and collections which in 2003 amounted to Lm3.78 million, while revenue from various investments in 2003 generated Lm2.51 million. These two sources of revenue represent 73 per cent of the Archdiocese’s revenue.
In 2003, nearly Lm58,000 of the Church’s revenue was generated through income from its properties, Lm460,000 through contributions on publications and advertising sales, Lm875,000 from fees and other income from residents in the homes it runs and Lm124,000 through the sale of its properties. The total income from 2003 was Lm8.6 million.
On the other hand, Lm1.158 million was spent on remuneration to priests and nuns, which includes Mass stipends. Lm3.44 million was paid to the Archdiocese’s lay employees and Lm3.9 million was in respect of operational costs.
Moreover, the Archdiocese paid Lm73,000 in taxes and Lm94,000 in donations and grants. The Archdiocese’s total expenditure for the financial year was Lm8.736 million, representing a deficit of Lm129,982. The Archdiocese gave Lm119,000 in subsidies for its four homes for the elderly. This amount, it remarked, has risen every year in view of the ever-increasing operational expenses involved in running these homes. It also gave Lm323,000 in subsidies to entities such as The Catholic Institute, the Cana Movement, Caritas and the Emigrants’ Commission.
The Archdiocese subsidised its radio station (RTK), newspaper (Gensillum) and its TV unit by Lm136,000 while Lm58,000 was spent on the Foundation for Theological Studies within the University of Malta.
The Dar tal-Providenza alone incurred a loss of Lm208,000, Lm9,000 more than the previous year, mainly due to an increase of Lm80,000 in the home’s expenses related to salaries and other operational costs.
The 68 parishes collected Lm1.688 million in donations and a total of Lm1.754 million was spent on their operational costs. The parishes paid Lm100,000 in salaries to the sacristans and Lm281,000 on remuneration for priests, nuns and other members of the clergy.
As far as parish feasts are concerned, the parishes spent a total
of Lm157,000 and generated Lm143,000 in revenue.