The Malta Community Chest Fund last year spent more than €500,000 to organise its annual charity telethon, L-Istrina, up 70 per cent over the previous year, audited accounts show.

The surge in expenses meant that the President’s charity had less money to distribute to Malta’s needy, in spite of an increase in donations.

According to the audited accounts for 2014 published by the MCCF, the first L-Istrina under the patronage of President Marie-Louise Coleiro Preca cost €518,560 to organise.

Compared to the 2013 edition, when George Abela was president, expenses increased by more than €200,000.

A total of €305,104 was spent on the 2013 edition, the highest out of the five telethons held Dr Abela’s presidency (see table).

While, in 2013, L-Istrina had a surplus of €3,154,737, in the following year, the MCCF had about €20,000 less to distribute despite an increase in donations.

Discounts are asked for and suppliers willingly charge special discounted prices as their donation and contribution towards L-Istrina

Both editions were held at the Mediterranean Conference Centre in Valletta.

When asked about the higher expense, a spokeswoman for the President admitted that the expenses had increase substantially “due to the increase of the events organised”. According to the President’s office, Rockestra was one of the events paid for from the L-Istrina funds.

“Expenses also increased as a result of loss of sponsorship,” the spokeswoman added.

The accounts show a massive increase in the cost of “printing and banners”, rising from €19,609 in 2013 to €113,005 last year. “Television production” costs increased by almost €100,000 to reach €323,093 and “advertising costs” grew from €14,295 in 2013 to €57,999 last year.

Asked about this year’s plans in terms of expenses, the President’s spokeswoman said that the “MCCF will continue as usual to try to keep its costs as low as possible but still provide high quality events”.

She said that quotations were always obtained before the procurement of any service and “discounts are also asked for and a number of suppliers willingly charge special discounted prices as their donation and contribution towards L-Istrina”.

Almost a third of the donations to last year’s telethon, €922,066, were raised on the day through telephone and SMS donations.

L-Istrina’s seven-year summary income statement