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Lino Farrugia Sacco withdraws ASA candidature citing maladministration

Former Malta Olympic Committee president Lino Farrugia Sacco, who was eyeing the presidency of the Aquatic Sports Association of Malta, withdrew his candidature

1 December 2016, 11:31am
Retired judge Lino Farrugia Sacco
Retired judge Lino Farrugia Sacco
Retired judge Lino Farrugia Sacco has withdrawn his candidature for president of the Aquatic Sports Association (ASA) of Malta, citing maladministration.

In the letter sent to incumbent Joe Caruana Curran, Farrugia Sacco argued that the accounts for year ending September 2015 were only circulated to the members on Tuesday, almost a year late, whilst there has been no presentation or circulation of the accounts of the year ending September 2016.

This, Farrugia Sacco argued, was “an outright violoation” of the association’s statute.

“Moreover, the picture which results from the accounts for year ended 30th September 2015 is a very worrying one,” the former Former Malta Olympic Committee president said. 

According to Farrugia Sacco, the accounts showed that there was a loss for year 2014-2015 of €65,621  and a loss for year 2013-2014 of €166,747 totalling a loss of €232,368. 

This has resulted in the Statement of Financial Position in a negative balance of €60,607.  “The picture is far worse as the ‘trade and other payables’ amounts to a negative balance of €234,998 – and one cannot really consider the set off of the plant and equipment amounting to €65,486, and the rest of the ‘current assets’ is not a 100% liquid asset.

“There are also claims from VAT Department of €114,919amount contested but nothing provided for in accounts.  In my view the Per Diem allowances to Coaches and referees of €20,315 and Conferences abroad €16,840 in this financial situation presents food for thought.”

Farrugia Sacco questioned what was the position for the accounts for the year ended 30 September 2016: “Is it another deficit of €166000, or €60000 or other figure which no one knows but should have been presented to the AGM according to the Statute?” 

Farrugia Sacco said the final blow was delivered when he was informed through a third party that he could not attend the AGM, except during the voting: “Is this the transparency the Association wants, or hopeful that the above will not come out? For these reasons mentioned above, I am withdrawing my candidature.”

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