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Originally Posted by Resolute 14
Independent auditors did.
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Yep. It was audited. But that isn't my point. Not going to geek out, but I think they use nonprofit fund accounting rules...means you have different pools of funds for different activities. There is a set of financials for each fund showing revenues and expenses. This cbc article shows the "operating budget" numbers. And they perfectly balance. Of course they do, because someone has to pay for the expenses. Lots in there from Canada and BC governments. And that is just the operating budget. The "Venue" fund is another fund that is used for site development. Lots in there from the governments too.
Check out page 18:
http://www.fin.gov.bc.ca/reports/201...rt_English.pdf
It's just who had to pick up the unpaid bills (taxpayers....which they did). I am not against gov't spending on olympics....there is some future net benefit. But saying they "broke-even" is disingenuous. This particular fund broke even.