UPDATED: Final numbers show 2010 Olympics carried no debt

Vancouver, BC, Canada / (CKNW AM) AM980

It’s the official end of the 2010 Olympics.

Organizers of the games awarded to Canada 11 years ago held their final meeting last week (June 27th) where final budget numbers were reviewed and an independent auditor confirmed there is no debt linked to these games.

Total revenues and expenses amounted to nearly $1.9-billion, but that doesn’t factor in all the money taxpayers spent ensuring Vancouver and Whistler were ready to host the world.

VANOC’s Chief Financial Officer, John McLaughlin,  insists big ticket expenses, which included upgrading the Sea-to-Sky highway, building the Canada Line skytrain and a new Convention Centre, were not part of the budget, but they’re all welcome additions.

“The main thing about all those assets is that they’re legacy assets for the province.”

The total cost of the 2010 Olympics has been pegged at anywhere between six and eight billion dollars compared to this year’s games in Russia which had a price tag of more than $50-billion.

Comments

  1. Anyone else looking forward to seeing the official account’s report? I have a strong feeling that standard accounting practices may not have been used. I wonder about the following “…but that doesn’t factor in all the money taxpayers spent ensuring Vancouver and Whistler were ready to host the event.” What?! Why would it make sense for these costs not to be included? Didn’t the taxpayers pay for these? If so, then these costs should be included and the reality is that we lost money hosting the games. More double speak from a corrupt government.

    • It`s called infrastructure Emma . It would make no sense for the complete costs of the RAV Line, the Sea to Sky and other such projects to be solely attributed to ” The Olympics”. Although C. Shaw and others will I`m sure disagree.

    • “Anyone else looking forward to seeing the official account’s report?”

      =====

      If I want to be lied to Emma I’ll turn on a movie. At least that way I’ll get some entertainment from it

  2. Last time I looked . . . the Subway, Sea-to-sky highway, Convention Center and BC Place are still here and working well . . . taxpayers paid for these and are still paying, but these are the legacy of having the Olympics. Would they all have happened without the Olympics? Some would have . . . but the bottom line is they have been and continue to be a net benefit to the citizens of BC.

    Unlike say the Fast-Ferries . . . has anyone ridden one of them lately?

  3. Congratulations to Mr. Furlong, Arthur Griffiths and the Liberals for pulling off the greatest event in Vancouver history and making it possible for Canadian athletes to own the podium.
    Let’s hope Adrian Nix and the NDP, Jim Sinclair, Chris Shaw, the BCTF and all the loonie lefties who fought the Olympics tooth and nail, will enjoy some humble pie of Olympic proportions. LOL.

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