18 City of Glasgow College Annual Report & Accounts 2020-21
Cash Budget for Priorities
Spend of the College's cash budget for priorities and
impact on the operating position remains unchanged
from 2019-20, and is detailed below:
2020-21 2019-20
Revenue £'000 £'000
2015-16 pay award 581 581
Estates costs 575 575
Total impact on operating
position
1,156 1,156
Capital - Total
cash budget for
priorities spend
1,156 1,156
Procurement and Prompt Payment of Suppliers
The College seeks to comply with the CBI Prompt
Payment Code, and has a policy of paying its suppliers
within 30 days of invoice date unless the invoice is
contested. All disputes and complaints are handled as
quickly as possible. No interest or late payment penalties
were paid during the year. The average creditor's
payment period throughout 2020-21 was 39days; in
2019- 20 the average was also 39 days.
Going Concern
The Board can confirm that the College is a going
concern based on its financial performance and all other
relevant information. The annual financial statements
have been prepared on a "going concern" basis.
Approved by order of the members of the Board on 15th
December 2021 and signed on its behalf by:
Alisdair Barron MBE, Chairman, Board of Management:
Paul Little, Principal and Chief Executive:
_____________________________________
15th December 2022
_____________________________________
15th December 2022