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Ontario government says Pan Am and Parapan Am Games came within $2.4-billion budget

Flags of the participating countries fly in the athletes' village as the CN Tower stands in the background at the 2015 Pan American Games in Toronto on July 9, 2015.
Flags of the participating countries fly in the athletes' village as the CN Tower stands in the background at the 2015 Pan American Games in Toronto on July 9, 2015. THE CANADIAN PRESS/Darren Calabrese

TORONTO — The Ontario government says this summer’s Pan Am and Parapan Am Games came within the $2.4-billion budget.

Both the province and the TO2015 organizing committee say they found tens of millions of dollars in savings compared with their March budget projections, which estimated the final cost of the Games to be upwards of $2.5 billion.

The government says the final tally will be determined after all invoices are reconciled and audited statements have been prepared.

The committee had previously reported a $56-million surplus in capital expenses and Minister of Sport Michael Coteau predicted there would also be a surplus on the operations side.

Executives with the organizing committee have been told they will split $5.7 million in bonuses if the Games come in under budget.

Ontario’s auditor general will also conduct a financial audit of the Games but will not rule on the bonuses issue.

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