The Secretariat for the Economy functions as a Papal Secretariat for economic and financial matters.

It exercises monitoring and vigilance in administrative, economic and financial matters with regard to curial institutions, offices and other institutions associated with the Holy See or related to it, as indicated in the list attached to the statutes of the Council for the Economy.

It also exercises appropriate supervision over Peter’s Pence and other papal funds.

The Secretariat for the Economy is headed by a Prefect, assisted by a Secretary.

The Secretariat has two areas of operation: one for the regulation, monitoring and supervision of economic and financial matters; the other for the regulation, monitoring and supervision of administrative matters.

The Secretariat for the Economy must consult the Council for the Economy and submit for its examination proposals and guidelines concerning norms on matters of greater importance or relating to general principles.

During the preparation of proposals or guidelines, the Secretariat for the Economy carries out appropriate consultations, with due regard for the autonomy and competencies of the agencies and administrations.

For matters relating to relations with states and other subjects of international law, the Secretariat for the Economy acts in cooperation with the Secretariat of State, which has exclusive competence.

The Secretariat for the Economy:

1. issues guidelines on economic and financial matters for the Holy See and verifies that activities are carried out in compliance with the operational plans and approved programmes;

2. monitors the administrative, economic and financial activities of the institutions entrusted to its oversight and supervision and proposes and ensures any corrective actions;

3. prepares the annual budget, verifying that it is respected, and the consolidated balance sheet of the Holy See, and submits these to the Council for the Economy;

4. carries out an annual risk assessment of the patrimonial and financial situation of the Holy See and submits it to the Council for the Economy.

The Secretariat for the Economy:

1. formulates guidelines, policies, models and procedures with regard to procurement, aimed at ensuring that all the goods and services needed by curial institutions and by offices and institutions associated with the Holy See or related to it, are acquired in the most prudent, efficient and economically advantageous manner, in conformity with appropriate internal audits and procedures;

2. arranges for suitable information technology so that administrative, economic and financial management will be effective and transparent and that archives and accounting records are faithfully kept, in accordance with approved norms and procedures.

The Secretariat for the Economy includes the Human Resources Department of the Holy See, which, in dialogue and cooperation with the entities concerned, is responsible for whatever concerns the position and labour management of the personnel of entities subject to the Holy See’s proper legislation, without prejudice to the provisions of art. 48, 2°.

Among its other areas of competence, the Secretariat for the Economy, through this Department, authorizes the hiring of personnel, verifying that all necessary requisites have been met, and approves the organizational charts of the entities.

The Secretariat for the Economy approves, based on the criteria determined by the Council for the Economy, all acts of alienation, acquisition or extraordinary administration carried out by curial institutions and offices and institutions associated with the Holy See or related to it, for which the Secretariat’s approval is required ad validitatem.

During the vacancy of the Apostolic See, the Secretariat for the Economy furnishes the Cardinal Camerlengo of the Holy Roman Church whatever information may be requested with regard to the financial status of the Holy See.

Apostolic Constitution Praedicate Evangelium (art. 212-218)