Olympics won't lose money: VANOC

The only red Canadians may end up remembering from the 2010 Winter Olympic and Paralympic Games is the wave of red mittens in the stands.

While it will be months before the final numbers are known, members of the organizing committee said they believe their $1.75-billion budget will at least balance.

"I think we will have a surplus," said Dave Cobb, deputy chief executive officer of the organizing committee, known as VANOC.

"Just by the fact that there's no way we are going to be exactly balanced to the penny, we're either going to be a little bit below or a little bit better — and we're very confident now we will be better."

Balancing the budget will still require the extraordinary payment from the International Olympic Committee, he said.

The IOC had agreed to contribute to VANOC's coffers after they were unable to sign all of the hoped for international sponsors for the Games.

But Cobb thinks the IOC will view it as money well spent, adding that the IOC is extremely pleased with the Games.

So is the International Paralympic Committee.

"Canada has been a great host," said Sir Philip Craven, president of the IPC at the closing news conference on Sunday.

"And the friendship of the people has come through on the street and also from the unique experience in the venues."

The Paralympics closing ceremonies Sunday night were to reflect the conclusion of both events.