Pope Francis Issues a Motu Proprio for a Better Organization of Finances and More Transparency at the Vatican - FULL TEXT

The Vatican reported that the Administration of Secretariat of State holdings passes to Administration of the Patrimony of the Apostolic See  or APSA.

Pope Francis issued a Motu Proprio which officially authorizes the transfer announced in an earlier letter to Cardinal Parolin, after preparation by a special commission. It strengthens the supervisory role of the Secretariat for the Economy which will function as a papal secretariat over economic and financial matters.

FULL TEXT Communiqué of the Holy See Press Office on the Motu Proprio “A better organization”, 28.12.2020

The Holy Father has published a Motu Proprio with which he converts into law what he had already written in the letter of 25 August 2020 to the Secretary of State. This Motu Proprio represents another important step in the reform of the Curia. The decision arrives before January 1, for implementation in the budget of 2021. The Commission established by the Holy Father for the transfer of economic and financial functions from the Secretariat of State to the Administration of the Patrimony of the Holy See, for the management, and to the Secretariat for the Economy, for control, which has been working in recent weeks, will continue to specify some technical details until 4 February next, as expected.

This new law reduces the number of economic leaders in the Holy See and concentrates the administration, management and economic and financial decisions in the Departments corresponding to the purpose. With it, the Holy Father wishes to proceed with a better organization of the Roman Curia and an even more specialized functioning of the Secretariat of State, which will be able to help him and his successors with greater freedom in matters of greater importance for the good of the Church. The so-called " Administrative Office " of the Secretariat of State, since it will no longer have to manage or decide on funds and investments, downsizes its functions.

The Motu Proprio establishes greater control and better visibility of the Pence of St. Peter and of the funds that come from donations from the faithful. In addition, specific controls are strengthened on certain bodies related to the Holy See that manage accounts and funds from donations. With these decisions, the Holy Father expresses his personal commitment, and that of the Roman Curia, for greater transparency, a clearer separation of functions, greater effectiveness in controls and greater adaptation of the economy of the Holy See to the mission of the Church, so that the People of God who help with their generosity to support the mission of the Bishop of Rome can do so with the confidence that their contributions are administered in an adequate, transparent manner and with the exercise of due controls.