VANCOUVER—The organizers of the Vancouver Winter Games say all the bills have been paid, the IOUs collected and the 2010 Olympics were officially in the black.

VANOC says total revenues and expenses were just shy of $1.9 billion.

CEO John Furlong says the 2010 Gamesfaced some real challenges and he’s proud that they came out in the black.

With the Sochi Games in the not-so-distant past and fresh concerns about the World Cup in Brazil, Furlong says there has been much discussion about the cost of such large events and the difficulties some countries have had.

He says the Vancouver Games are model of how it can be done.

At the end of the day, the federal government contributed $74.4 million, the British Columbia government $113.4 million and other governments $176 million, while the International Olympic Committee kicked in $659 million in sponsorships and contributions.

Ticket sales raised $269 million dollars, while licensing and merchandising accounted for another $54 million.

An independent audit by Ernst and Young confirmed the results.