On 24 November, well before the activities which led up to L-Istrina, The Malta Independent on Sunday had run this story:

“One normally associates the Community Chest Fund with giving help to people in need, but the audited accounts of the MCCF, published on Monday, show an increasing trend towards institutionalisation, investments and cash piles both at the bank and in hand.

“In one year, from 2012 to 2013, assets described as ‘property, plant and equipment’ rose from €34,000 to €544,000. Assets described as ‘investment’ rose from €912,000 to €1,246,000. Cash at bank and in hand, although slightly less at €2,530,000 (2012: €3,705,000) is still substantial.

“There was also an increase from €1,487,000 to €1,737,000 in financial assistance pledged. Contributions obtained through fund-raising activities brought in €3,198,000 in 2013 as against the €2,832,000 raised in 2012.

“Total contributions for the year amounted to €3,517,000 (2012: €2,991,000) and at the end of the MCCF financial year, on 31 March 2013, total assets exceeded liabilities by €3,696,000.”

Since then, there have been two developments (sort of):

-          First of all, there has been no reaction whatsoever from MCCF. Maybe they had a lot to do preparing for L-Istrina and recuperating from it afterwards.

-          Secondly, L-Istrina today week brought in a record number of pledges and commitments.

So the unasked questions posed by the publication of the MCCF accounts not only have not been answered but they have even made more impellent.

MCCF is now sitting on a huge cash pile which keeps getting bigger and bigger.

It has also purchased what were described as ‘property, plant and equipment’ in the accountants’ language. We have not been told what these consist of nor have we been told if there are people employed full-time with MCCF.

For all the marketing that went on before 26th December, it is clear that not all that is being collected is being given to people in need, although what is given is indeed substantial.

One could perhaps understand the reasoning if MCCF is planning a substantial, coherent and structural investment rather than engage in handing out cash for people’s problems. However, it remains to be seen if such structural initiatives and ventures should not be undertaken by the State rather than by MCCF. Having said that, Puttinu Cares, to mention one initiative, supplements the government effort rather than creates something stand-alone.

All in all, it must be said that MCCF has increased and grown mostly during this current Presidency and mostly through the drive of the current President. But, as has been remarked over the past days, it will be a hard act to follow.

The future President, whoever he (or she) may be, will find an inheritance that is very heavy and time-consuming. Maybe other Presidents will have a different world-view. Maybe they will not feel up to jogging the whole way from San Anton to Valletta. Maybe they will disagree with the priorities of the current MCCF.

In Mepa terms, many times a development is allowed only if it is ‘reversible’. In the MCCF case, one does not know exactly what of MCCF’s current set-up is reversible or not, especially if there are people directly employed with MCCF.

Over the Christmas period, too, the country was inundated with charity collections, all for very worthy causes. It is rather strange that so many causes lack funds and collect money (in primis Dar tal-Providenza) when MCCF, at the last account, holds  €1,246,000 in investments and €2,530,000 as cash.