Sheffield Local Optometric Committee

Treasurer’s Report 2008-2009

SHEFFIELD LOCAL OPTICAL COMMITTEE.
TREASURER’S REPORT
2008-2009

Another active year for the LOC.

The statutory levy remains unchanged at 1%, of which 0.5% is to be forwarded to LOCSU.

The voluntary levy is not being collected. The collected amount would normally be sent on to the LOC Central Fund. We have not made a significant payment for two years. I think we should consider whether we wish to reinstate payments and, if so, how to fund them.

Income is up slightly from last year from £24216 to £25693. An increase of £1477.

Expenses are also up from £24434 to £30147. (This masks an error however as attendance allowance has been overpaid by £2400. I have attached a spreadsheet showing this in detail). The true increase is £3513.

The increase in expenses is not unexpected as there has been a high level of LOC activity by members.

We have reserves of £25,275. I suggest we keep the statutory levy at 1% for the coming year.

Our main account is now online so payments can be made direct to accounts.

There has been some difficulty settling invoices as some have been rather vague. I would be grateful if members would submit invoices with full details of meetings; such as persons present, date, purpose and place of the event.
Also please don’t wait for ages before submitting the bill.

G R Cowley

LOC Treasurer
5/5/2009

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