base year

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Base Year

The year against which the performance of an index is measured. For example, suppose the base year is 2001 and the initial value of an index is 100. If the index is 150 in 2009, it means that the value of the index is 50% higher in 2009 than it was in 2001. It is also called the reference year. See also: Base Value.

base year

the initial period from which a system of INDEXATION proceeds. For example, the present UK Consumer Price Index has as the base period 1996 = 100, with the average price of a typical basket of goods in 1996 being taken as the basis for the index. The 2004 index number was 111 for all items in the basket of goods. Convention dictates that the base period always commences from the number 100. See PRICE INDEX.

base (expense) year

In commercial leases, the year used as a measure of a tenant's obligation to pay the pro rata share of ever-increasing building expenses over time.The rent for the first year is usually calculated by the landlord so as to pay currently known building expenses and provide a profit. This is usually the base year. As expenses increase over time, the amount they exceed the expenses of the base year is the figure the landlord uses to calculate the tenant's pro rata share of the expenses.

References in periodicals archive ?
The main types of GHG targets are set with respect to a base year scenario in the past, a baseline scenario in the future, or a base (historical) year emissions intensity objective (generally with the goal of reaching a lower Emissions to GDP ratio).
This can happen in two cases: baseline scenario targets and (dynamic) base year emissions intensity targets.
So, the biggest problem is that GDP base years are out of date, and African statisticians know they are out of date, leading to wildly varying estimates of the real value of the economy.
The base year tells economists what the size and the structure of the economy was at a given moment, and the new data for the latest year are compared to the previous year, and on back to the base year to give figures for GDP growth (or GDP shrinkage, if you are unlucky enough to be in recession).
NCSI will pubA[degrees]lish December 2013 indicators based on the two base years (2000A[degrees]2012) in the monthly publication which will be issued in January 2014
Accordingly, 2012 will now become the base year for all statistical comparisons going forwards, whereas the year 2000 was the previously approved base year.
Stops and Base Years invariably have verbiage identifying those charges which are to be excluded from consideration as permitted operating expenses.
B) A Base Year sets the landlord's obligation as the sum of the expenses incurred and allocable to a designated calendar or fiscal year.
As shown in Table 1A, when base years close to the dates of the recessions are used to evaluate the data, in terms of GNP decline, at 1.
The action by the comptroller general clears the company to continue execution on the five-year, performance-based contract that contains two base years valued at approximately $50 million and three one-year options valued at approximately $30 million.
861-10(e)(3)(iv)) for the year, the relevant debt-to-asset ratio for any base period year may not exceed 110 percent of the relevant base period ratio for that base year.