Finance

The LOC is financed by Levies on the fees paid to practices by the NHS Commissioning board for GOS sight tests.

The LOC has a Statutory Levy which is currently set at 1.25% and paid by all practices in the LOC.

The Statutory Levy is split into 2 sections. A  sum equivalent to 1% will be used to fund local LOC activities. This is spent on expenses paid to LOC members for work done on behalf of the LOC, providing CET events, Peer Review evenings and secretarial support etc..

The remaining levy (a sum equivalent to 0.5%) will be used to fund the National LOC Support Unit.  This will assist the LOC in its work on behalf of the Optometrists in Cheshire.

There has also been a Voluntary Levy of 2% paid by some practices on a voluntary basis.  This was always paid in its entirety to the Central LOC fund who support optometry at a national level.

This has currently been suspended (set to 0%) pending further information on the future of the Central Fund.  Once the future plans of the Central Fund are in place, the LOC will write to all practices with further information and a new Voluntary Levy Mandate for them to complete if they wish to continue to support the Central Fund.