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Current Dollars/Value (CV)
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Dollars of non-uniform purchasing power, including general price Inflation. Level of costs in the year actual cost will be incurred. When prior costs are stated in current dollars, the figures given are the actual amounts paid. 

When future costs are stated in current dollars, the figures given are the actual amounts expected to be paid including any amount due to future price changes.

“Current values” (CV) are construction costs at the base year of the reserve study, which are then inflated with annual compounding to “future values” (FV), as of the forecast year of each capital project. In British Columbia the  30-year historical average for construction cost escalation has been approximately 2%, which has a doubling period of 35 years.

An estimate expressed in terms of the dollars of a particular base fiscal year -- that is, it includes no provision for inflation


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