According to the referendum committee, as shown in their brochure*, the bottom line summary on costs (assuming an estimated annual operating deficit of $550,000) is presently calculated, as follows:

Nevertheless, Bylaw 2564 states that for the Aquatic Centre service they can collect $1,206,491 annually from property owners. There are 3344 eligible parcels. Therefore:

The following analysis is taken verbatim from the 4 August 2011 ADMINISTRATIVE REPORT issued by the Regional District Okanagan-Similkameen Chief Administrative Officer.

There is an interest in advancing the referendum prior to the next municipal election. Experience has shown that when time is the primary driver of a project, the quality of information or the cost estimates may be weakened. The Princeton Aquatic Centre Project has a number of unknowns:

a) Structure
The proposal is that the Aquatic Centre would be an RDOS owned and operated facility, much as the arena is. At this point, we're not sure what the structure is or what role is expected of RDOS staff, either now or going forward. Within the last couple of months Administration has been asked to attend meetings to provide information on specific processes, like the referendum. A typical structure for a capital project owned by the RDOS would be:
- Board - oversight/ approving authority role
- Steering Committee - Design decisions/ management control
- Project Director - oversight
- Project Manager - managing the competing demands for scope, time, cost, risk and quality.

b) Project Planning
- The land, and the cost of the land, has not been secured.
- Roles?
- Project scope? (deep-end?)
- Context (political or administrative?)
- Project coordination (how does this fit in with the other facilities?)

c) Cost Uncertainty
- Approximately 1/3 of the capital cost for the project is based on grants that have not yet been awarded. It is anticipated that future infrastructure grant programs will be announced, and an RDOS application for the Princeton Aquatic Centre should not jeopardize any other applications the RDOS would intend to submit.
- The FAQ indicates that a geotechnical survey has not yet been done. This could have a financial impact.
- We anticipate that the number of parcels in Princeton will be reduced by roughly 200 from the original estimate, shifting a larger tax percentage to Area H.
- The pro-forma operating budget developed by the Committee is based strictly on benchmarked information and has no detail.

d) Schedule Uncertainty
- Should the Board separate the votes between the Town and the Electoral Area, the Town would be required to appoint a returning officer and complete the administrative work to run a referendum. We would need to confirm the capacity to fulfil that obligation within the prescribed timelines.
- The window for a provincial approval for a September 24th referendum is very tight. So, the Board must balance its support to move quickly through the referendum process on this project, with an understanding that our ability to manage the uncertainty on schedule and budget will be challenged.