The Anglican Church of Canada has reported a shortfall of finances for the fourth year in-a-row.

The Church's General Synod has prepared the Church's annual report, which has revealed a deficit of approximately $486,000 for the year 2006, the Anglican Journal has reported.

The Canadian Church continues to struggle financially as its 2006 revenue also declined from $14 million in 2005 to $13.71 million last year.

Although the figures prove worrying reading for Church leaders, the latest figures are in fact an improvement on 2005, when the loss experienced was $1.1 million.

The Anglican Journal, speaking to treasurer Peter Blachford, found that the revenue shortfall for 2006 was primarily due to losses experienced from the Anglican Book Centre.

The Canadian General Synod earlier this year also saw a motion be narrowly defeated that would have allowed individual dioceses to authorise the blessing of same-sex unions.

Had the motion been approved, any diocesan synod would have been authorised to bless same-sex unions in accordance with the approval of the diocesan bishop and "in a manner which respects the conscience of the incumbent and the will of the parish".

While lay delegates and clergy voted in favour, 78 to 59 and 63 to 53 respectively, the House of Bishops overturned their votes by rejecting the motion 21 to 19 at the General Synod. The motion required the approval of all three orders to be passed.

Supporters of the motion argued that the love of God and Christ encompasses gay people and their relationships, and also pointed to the fact that gay unions are already affirmed by law in Canada.

Opponents, meanwhile, said that homosexuality is clearly defined as a sin in the Bible. They also warned that a vote in favour of the motion would strain relations between the Anglican Church of Canada and Anglican churches in Africa and Asia.