Annualized Costs definition
Annualized Costs means any costs approved in the prior year's budget that were included for only part of the year and are converted to a twelve month period and included in the Base Level Budget. Annualized costs would normally apply to personnel and related costs and those costs related to municipal service contracts that had price escalations part way through the year or any that began part way through the year. These costs must be clearly identified in the Base Level Budget;
Annualized Costs means any costs approved in the prior year's budget that were included for only part of the year are converted to a twelve-month period and included in the Base Level Budget. Annualized costs would normally apply to personnel and related costs and those costs related to municipal service contracts