LCEA financial monitoring tool 2023/24
This resource will help employers to:
ensure minimum level of funds for investment in local clinical excellence awards (LCEAs) in 2023/24 have been allocated
develop the financial element of their end of year report.
The contractual entitlement to access an annual award round ceased on 1 April 2024. The annual award round from 1 April 2023 to 31 March 2024, which was based on evidence before 1 April 2023, was the final Local Clinical Excellence Award Round.
Pre-2018 LCEAs will be retained and these awards shall remain pensionable and consolidated. The value of these awards is frozen. Pre-2018 LCEAs are awards granted prior to 1 April 2018 under local clinical excellence awards schemes in place as of 31 March 2018. The review process for these awards has been removed. Schedule 30 of the consultant contract will be updated to reflect these changes and we expect publication to be later in 2024. announced by the 25 January 2024.
How to use the spreadsheet
- All blue cells require employer inputs.
Download the LCEA financial monitoring spreadsheet (MS Excel).
LCEA financial monitoring tool user guide
Use our guide to help you navigate and use the Excel based tool.
Download the guide (PDF).
Funding of the awards
The minimum investment level is to be calculated using this (much simpler) formula:
FTE x £7,900
*(not including national insurance and employer pension contributions)
There is no longer an ‘investment ratio’ or a cumulative element to the calculation. However, some complexity does remain when taking into account the costs of maintaining existing LCEAs, i.e. awards granted prior to 1 April 2018.
Before new awards, the following must be paid from this pot:
- pre-2018 existing LCEAs
- costs associated with any necessary reversions for consultants who have lost national clinical impact awards
- any new LCEA of greater than one year’s duration that are paid beyond April 2022.
There will be variation in the amount of funds trusts have available to spend. This may affect your flexibility to run schemes in some areas, as some organisations will have many pre-2018 awards to pay out before they can invest in new awards. This trend is not expected to last long-term and all pots should increase over the next few years as consultants, with old-style awards, retire.
