TORONTO – Organizers of the Toronto 2015 Pan Am Games released their four-quarter financial report today, saying the overall capital building program is continuing to come in under budget.
The report for the fiscal period ending March 31 says the Games incurred $92.8 million, including $66 million on venue construction during the quarter.
It says operating expenses during the quarter were $26.8 million, mostly spent in the areas of corporate, technology, transportation, events and ceremonies and community and cultural affairs.
With less than a year to go before the Games begin, the organizing committee says it has spent $126.9 million or 15.7 per cent of its total operations budget of $810 million.
The report says corporations have also put in an “incremental $43 million in value” worth of in-kind sponsorships for delivery of the Games.
“So far, of all the funding spent to procure the goods and services we need to make these games a success, 84 per cent has gone to Canadian companies,” he said.
The Toronto 2015 Pan American Games will take place July 10-26 and the Parapan American Games are August 7-15.