VICTORIA - A new report by B.C.’s most respected forensic accountant, Ron Parks, finds in favour of public operation of sewage treatment in the Capital Regional District (CRD).
Parks’ review of the business case in support of provincial funding for sewage treatment finds that the assumed cost of public operation is inflated in a number of ways, including double-counting risk, unjustified assumption of higher public costs, and using a discount rate that is too high.
The business case uses an assumed discount rate of 7.5 per cent, while Parks suggests a more appropriate rate w