VANOC is flush with cash.
Despite the economic downturn, VANOC CFO John McLaughlin revealed March 25, "we're in a positive cash position."
But that doesn't mean the Olympic organizing body will throw fiscal prudence out the door, McLaughlin said.
Still, VANOC's report for the quarter that ended January 31 glowed compared with that from the previous quarter.
VANOC's deferred operating revenue exceeded deferred operating expenses by $145.9 million. That compared with a $65.2 million deficiency in the previous quarter.
Venue development was a source of more good news. According to VANOC's report, all sites are at least "substantially" complete.
The total surplus of revenue over expenses for venue development in the most recent quarter was $23.7 million. That compares with a $3 million surplus in the previous quarter.
McLaughlin said the surplus stemmed from the timing of VANOC getting venue development funds compared with when the organization had to pay related expenses.
He added that licensing and merchandising revenue had doubled during the quarter and more than $94 million worth of tickets as sold.