1.0 PAYMENT OF PROFIT BY ROYAL GREENS GUEST HOUSE INTO THE UNIVERSITY ACCOUNT

Council received a report that Management directed the Royal Greens Guest House (RGGH) to deposit the profit generated at the Guest House into the University account.

Council noted that Management, in its usual shrewd fund management policy, had directed that the money be deposited in a dedicated fixed deposit account, as savings for the renovation, furnishing, etc, of the existing Vice-Chancellor’s Lodge, when it is vacated and becomes an Annex of Royal Greens Guest House.

Council noted the payment of profit to the University and directed that a letter of commendation be sent to the Management Board of RGGH while another letter be written to Chairmen of University Committees on the need to patronise the Guest House instead of other caterers.

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