AUSTRALIA
Sydney Morning Herald
March 25, 2014
Catherine Armitage
Senior Writer
Sydney’s Catholic Archdiocese, thought to be the richest in the country, controls funds with assets of $1.24 billion and generates annual multimillion-dollar surpluses, according to evidence at the child sex abuse royal commission.
As the commission explores the church’s handling of sex abuse claims, an unprecedented glimpse of the books was provided by the archdiocese’s business manager, Danny Casey, who said the funds are “ultimately controlled by – owned by, if you like – the archbishop of the day”.
The funds are ‘ultimately controlled by – owned by, if you like – the archbishop of the day’.
Since George Pell’s appointment as archbishop in 2001, the archdiocese has received 204 claims and paid out just under $8 million to victims of child sexual assault, the commission has been told. Payments to “non-school victims” were $5.4 million. This included $740,000 for “boundary issues with adults”.
The commission heard the archdiocesan funds have generated annual surpluses including $43.95 million (2007), $19.6 million (2006) and $9.1 million last year.
The royal commission was shown accounts revealing that the Catholic Development Fund held $810 million, including $321 million in cash at the end of 2013. The procuration fund from which sexual abuse claims are made held $426 million, including real estate assets of $207 million. This included buildings and land used “substantially” for church purposes.
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