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 ?
Tendering of natural gas for heating purposes for the energy reference years 2018 and 2019 to supply the properties of the federal agency for employment in germany in three lots 11/20/17
The majority of the identified and presumed victims over the three reference years are from EU Member States (61%), followed by victims from Africa (14%), Asia (6%) and Latin America (5%).
With countries continuing to announce mid-term emission reduction targets in the ongoing United Nations talks for a new climate treaty, the reference year they use when disclosing their goals is as much a political as a technical matter.
He explains, 'My wife Gwyneth was diagnosed with breast cancer in August 2000, and I can honestly say that the SFP reference years of 2000, 2001, 2002 were the worst period of my life.
The New Zealand business sector spent $524 million on research and development in the 2002 reference year, according to Research and Development in New Zealand 2002, a new report published by Statistics New Zealand with assistance from the Ministry of Research, Science & Technology.
This will allow them to select which scheme within each of the reference years they are attempting to remove prior to the calculation of their historic payments.
An Assembly spokeswoman said those affected could apply under hardship provisions if scheme participation had reduced their CAP payments in the reference years used to calculate SFPs.
She said farmers who have received their yellow SFP forms should consider carefully what their claims were before they entered an agri-environment agreement, and request an alternative reference year.
Regarding production quotas which the CEECs are demanding, notably in the milk and sugar sectors, Mr Verheugen sought to justify the Commission's intention to retain current production periods as the basis for the reference period, arguing that statistics predating the reference years 1995/99 are often "fanciful".
It is meant to complement the existing set of satellite data available under ESA~s data warehouse, needed for change mapping of land cover/land use (LC/LU) of a selection of Natura 2000 (N2K) sites for the 2006 and 2012 reference years.
There will also be the opportunity to make allowances for any extraordinary circumstances during these reference years, such as if the farm was affected in any way by foot-and-mouth.
Contract notice: Supply of natural gas at a fixed price for the reference years 2015 and 2016, the city luedinghausen.