Archdiocese of Sydney has assets over $1 billion, inquiry told

Substantial assets

The Archdiocese of Sydney controls funds with assets of $1.24 billion and generates annual multimillion-dollar surpluses, according to evidence tendered yesterday to the Royal Commission into Institutional Responses to Sexual Abuse.

- The Sydney Morning Herald/ABC

An unprecedented glimpse of the Church's 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.'

Since Cardinal 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.

FULL COVERAGE

Sydney's Catholic Archdiocese has assets over $1 billion, royal commission told (SMH)

Sydney Catholic Archdiocese controls more than $1.2 billion in assets, inquiry hears (ABC)

Catholic Archdiocese of Sydney controls $1.2bn, royal commission hears (The Australian)

St Mary's Cathedral 'of low value', inquiry told (Yahoo7)

Pell’s church loaded with assets (The Australian)

Catholic church's $1.2 billion in funds (SkyNews)

RELATED COVERAGE

Archbishop response to abuse claims (The Australian)

Silence on abuse could lead to five years' jail (The Age)

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