The figures were released as part of VANOC's latest quarterly report, which also showedd that operating expenses are climbing as venue-construction costs decline.
VANOC reported a boost in its cash balance for the three months ending January 31, which rose by more than $16 million from the end of October, to $56.5 million.
Chief financial officer, John McLaughlin, said: “Venue-development expenditures were down from the previous quarter as activity slows in the winter season and several large venues reach substantial completion. Operating expenditures continue to grow as the level of activity across VANOC ramps up".
To date, VANOC has spent $466.3 million on venue construction - almost 79 per cent of the budget. According to the report, however, its venue development central contingency remains adequate to protect against the remaining $125.5 million in the venue construction budget.
