Sheffield Local Optometric Committee

Treasurer’s Report 2010-2011

Treasurers Report 2010 – 2011.

Yet again our activity on the LOC has been very high, each year we seem to do more, and more, which is wonderful.
Our income this year which comes from the statuary levy set at 1% of all NHS sight tests was £28,281.69, which is a very small increase of approximately £180 from last year.
The expenses paid to LOC members for attendance to meetings and work done on behalf of the SLOC is £20,779.74 which is an increase from last year of £16,732.
The reserves unsurprisingly have dropped slightly at the end of this years tax year to £27,097.89. However we have not yet been asked to pay our contribution to LOCSU of 0.5% of our statuary levy. This would be £14,141 which would bring our reserves down to £12,957.
This is something that I feel we need to discuss as a committee, as if next year we have another busy year and our outgoings are greater than our incoming by the same amount we could be left with a reserve of £1,363.80!! One thing we also need to consider is at the moment we do not pay any tax on the money but this will be coming in the next year or two.
In Sheffield we do not collect any voluntary levy and so we have not given any money to the Central LOC fund. As far as I can tell this is the body that responsible for national negotiations on our behalf, with the wind of change that is blowing through the PCT world is this some thing we may need to use. In the past 07-08 we have increased the statuary levy to help cover the LOCSU payment from 0.75% to 1%, is this something we need to look?
In the year to come we need to think carefully where our money goes and how it can be best used to help the Optoms and the patients of sheffield. I feel we have given Sheffield great value for money with all the schemes and work we have done and i hope this continues.
As some of you may be aware i have now been treasurer for 12m now and as yet i still haven’t got control of the bank accounts. I have filled in 6 lots of mandate documents comprising of 4 documents in each to try and become a signituary. I will try one more time but the problem is we have some signaturies on the account who have since passed on and so cannot sign to remove themselves! If the mandates do not go through this time does any one have any objection to us closing the accounts with Natwest and starting again at a different bank?
On a personal note I would like to thank everybody for the prompt replies with regards to the invoices and making my life a whole lot easier.
Things to Discuss
LOCSU payment.
Central LOC fund.
Statuary Levy

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