The Balance Statement is a pro forma year-end account balance projection that OCLS prepares for the colleges every January. The Balance Statements itemize anticipated expenses for the final quarter of the fiscal year.
Please review your balance statement closely upon receipt. If you notice an error or if you would like to make changes to your upcoming account activity (for example, to add a new acquisition or to cancel a planned one), then please let us know as soon as possible.
The deadline for submitting changes to your Balance Statement is noted in the eResources Calendar. You may have other action items or decisions to make depending on whether your statement shows a surplus or deficit. To summarize:
If your statement forecasts a deficit, OCLS will issue a top up invoice.
If your statement forecasts a surplus, you may choose to spend it on new acquisitions, request a refund, transfer the surplus to the next fiscal year, or request that an upcoming expense currently set to be paid by separate invoice is paid with Deposit Account funds instead. Unless requested otherwise, OCLS will subtract your year-end balance from your April invoice.