According to audited financial statements released Friday, the organization that won the bid to host the Vancouver 2010 Winter Olympic Games is winding up with a surplus of $573,410 following an expenditure of $35.5 million.
The surplus will be handed over to the Vancouver 2010 organizing committee.
Jack Poole, chairman of the Vancouver 2010 Bid Corporation said, “the books have been closed, the bills have been paid and there’s a surplus in the bank. The bid was even able to handle the last minute surprises that came our way”. He added that they didn’t spend any money until they had it.
Poole said the surplus should reinforce people’s confidence in the way the bid was handled.
More than $35 million was raised to fund the bid with about half coming from the private sector and half coming from the bid’s government partners.
The bid was supported by more than 275 companies and organizations, large and small, local and national, with cash and in-kind services.
Also, more than $4.8 million was devoted to sport and athlete development during the life of the bid through the 2010 Legacies Now Program.
