VANCOUVER, Canada - The 2010 Winter Olympics broke even.

The Vancouver organizing committee released its final budget on Friday, saying it spent $1.86 billion to put on the games.

"The true measure of the 2010 Winter Games is not strictly financial, but a positive financial outcome is something we are very proud of in the story of the games' success," John Furlong, chief executive of the organizing committee, said in a statement.

"It is a key result we committed to and, through a true team effort, we have achieved it under some very challenging circumstances."

The original budget was $1.61 billion, but that grew over the past three years because of the recession and other issues. While organizers said 91 percent of revenues came from corporate sources, taxpayers also helped ensure the games didn't go into the red.

The provincial and federal governments bailed out the organizing committee in the months before the Games, offering millions in additional funding. The International Olympic Committee also stepped in with an extraordinary cash commitment. Vancouver organizers had developed their initial budget in the belief there would be more international sponsors.

The financial report was released hours after a government report showed the 2010 Winter Olympics had so far generated as much as $2.5 billion for British Columbia.

The PricewaterhouseCoopers study said the first three months of 2010 alone put more than $851 million into the provincial economy.

The report is part of a series commissioned by the federal and provincial governments to track costs and benefits associated with hosting the games.

"We've always believed the games would provide the catalyst for economic, social and athletic development provincially and nationally," British Columbia Finance Minister Colin Hansen said.

The latest report examines all revenues generated since Vancouver won the bid in 2003, focusing on the months around the Olympics.

"Even in the shadow of economic hard times, the overall increase in visitors to BC in February 2010 was significant," the report said.

Associated Press