Our Business Plan contains details of the aims of the LOC and its budget for the forthcoming year
Dudley LOC Business Plan 2026-27
Dudley LOC are committed to being open and honest about the fees it pays itself.
We would like to encourage anyone who wants to be active in trying to shape the future of optometry in Dudley to join the committee.
The work of the LOC is funded by a statutory levy. This is collected as a percentage of GOS sight test fees. The percentage level is agreed at the AGM.
When determining the Statutory Levy, the LOC has regard
to the requirements of openness, transparency and equity and upon estimation of the proportion of administrative and other expenses attributable to its Constituents.
The level of the Levy is also determined to maintain the LOC’s Reserves Policy. This states that the LOC will maintain a reserve of a minimum of 6 to a maximum of 12 months running costs aligned with the needs of the LOC. If additional reserves are necessary to fund a planned future project or capital investment, the LOC must agree the purpose and amount of additional reserve(s).
The LOC is committed to trying to keep the Levy as low as possible, while allowing for the running of an effective LOC. In order to achieve this aim the levy was decreased to 1.75% at the 2025 AGM.
Of the 1.75%, 0.4% is collected to fund the LOC Support unit. LOCSU has provided valuable resources to Dudley LOC, as well as providing a national voice for optometry. Authorisation for this payment is sought at every AGM.
LOC committee members receive payments for work done for the LOC in the form of expenses. These are agreed by the committee at the first meeting after the AGM.
In 2024 it was agreed moving forward to increase fees in line with GOS1 fee.
It was also agreed in 2024 to scrap honoraria payments for the Chair, Secretary and Treasurer, with those officers instead claiming for time spent on tasks.
Expense claims are calculated as follows:
LOC committee meetings attendance fee: £81.50
Time out of practice on LOC Business: £71.25 per hour up to a maximum of £407 per day. If attending a meeting on a non-work day/on a day of annual leave however a rate of £51 per hour up to a maximum of £407 per day will be paid. This includes time spent travelling to and from meetings, but not time spent “socialising” at meetings.
Meetings outside of work time (including on a day off/annual leave), and admin work at any time, is reimbursed at £51 per hour up to a maximum of £407 per day.
If a meeting is cancelled with less than 24 hours notice then time lost can be claimed at the above admin rate.
Travelling expenses – 45p per mile OR cost of rail ticket etc.
LOC Accounts are maintained by the Treasurer and professionally audited annually.
Accounts
Below are previous accounts. These are not official till agreed at the respective years AGM.
Older accounts available on request