Base years definition
Examples of Base years in a sentence
See Appendix 7.b. Base year(s) is defined as the same year or years (up to three) used to determine the contracting municipality's initial lump sum "annual estimated expenditure”, i.e., the year or two or three years immediately prior to the year for which a lump sum estimated expenditure was initially calculated, during which the municipality submitted ▇▇▇▇▇▇▇▇ to the State based on time and materials.
Base years are 1990 for all countries except Bulgaria (1988), Poland (1988), and Romania (1989).