Common use of Base Year Process Clause in Contracts

Base Year Process. The County requires that the franchise hauler submit a detailed Base Year Rate Application once every four (4) years. With the Base Year Rate Application, the franchise hauler provides detailed financial and operating information which is carefully reviewed and analyzed by the County. These detailed reviews are referred to as “base year reviews” in the methodology. With the Base Year Rate Application, the franchise hauler submits financial statements for the previously completed fiscal year. These statements serve as the base documents for the application. The franchised hauler should reconcile financial information contained in the Base Year Rate Application with the audited financial statements to provide assurance that all of the company’s activities are accounted for. The timing of the base year process is shown in Figure 1-1, below. The schedule is expected to start with submission of the Base Year Rate Application on June 30th of the year proceeding each base year. The process targets an implementation date of January 1st of the base year. The Base Year Rate Application requires three (3) years of data, including a year of actual data (based on audited information), a year of estimated data (based on year-to-date information available at the time the application is submitted), and the projection, or base year. The required years, and types, of data for upcoming base year reviews are 1 Prepare and Submit Rate Application 2 Verify Completeness of Rate Application 3 Review Rate Application and Prepare Response 5 Prepare Draft Report and Final Report 7 Notify Customers and Implement New Rates