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16



Terminus Year
The final year of a planning horizon or the last year of the study period. It represents the end of the term. The terminus year helps to define the boundary between "in-the-horizon" and "beyond-the-horizon".


Attributes:

The terminus year has the following attributes:
  • It includes the "final closing balance"
  • Funding calculations are not factored beyond the terminus year.

Examples:

Listed below are some simple examples to illustrate the application of the planning horizon:
  • A 20-year strategic plan that starts in 2012 will have a terminus year of 2031.
  • The funding model in a reserve study that starts in 2012 will have a terminus year in 2031.
The terminus year will either coincide with the calendar year of fiscal year, depending on the owner's preference.


Passage of Time Concepts:

As a building ages each year, the terminus year shifts forward by one year. The changes to the terminus year are represented by the following concepts:
Any events after the terminus year are "beyond the horizon"
The terminus year (and base year) of a 10-year planning horizon.
Fig. The terminus year (and base year) of a 10-year planning horizon.


The Terminus Year (and Base Year) on 10-year cash flow statement.
Fig. The terminus year (and base year) on a 10-year cash flow statement.


The three facets of the planning horizon: a) behind-the horizon, b) the horizon ("red zone") and beyond-the-horizon.
Fig. The three facets of the planning horizon: a) behind-the horizon, b) the horizon ("red zone") and beyond-the-horizon.

See also:
Compare with:


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