Appendix 5.1: Due Diligence Implementation Plan
95
Financial Due Diligence Implementation Plan
Page 2
Issues raised
by professional
advisers
Agreed Action Responsibilities
contained in the merger FFR report will reported
to partner colleges.
6. Replacement of
GCNS halls of
residence
GCNS will share with partner colleges, at the
earliest opportunity, the business case for the
proposed replacement of the halls of residence.
Principal GCNS
7. Clyde Marine
Training Ltd
GCNS will review the need to cover Clyde
Marine Ltd activities by a formal business
contract. If a contract(s) is necessary, then this
should be in place by vesting day.
Principal GCNS by
end of May 2010
8. ESF Grant Glasgow MET will keep partner colleges
informed of the progress of 2010 ESF
applications and the impact on the 2009-10
operating surplus/deficit
Principal Glasgow
MET on an on-going
basis.
9. Financial
Regulations
The proposed City of Glasgow College's
Financial Regulations will be reviewed by the
finance working group. Revised regulations will
be approved by the new Board of Management
as at vesting day.
Finance working
group by June 2010.
MSG to review
proposals