Close X
Monday, November 11, 2024
ADVT 
National

Kathleen Wynne Says Final Cost Of Pan Am Games Not In Yet But Looks Under Budget

The Canadian Press, 16 Sep, 2015 01:29 PM
    TORONTO — Ontario Premier Kathleen Wynne says it appears that this summer's Pan Am Games came in under budget, but the final numbers won't be known for up to a year.
     
    The chair of the TO2015 Organizing Committee says the capital surplus for the Games, which wrapped up in August, was at least $56 million, and possibly $66 million.
     
    He says preliminary, unaudited statements currently forecast a modest budget surplus.
     
    But the Progressive Conservatives say they are concerned about the lack of transparency for the Games' estimated $2.5-billion budget and are asking the auditor general to conduct a full audit.
     
    Wynne also defends the $5.7 million in bonuses that will be split among 53 executives at the organizing committee, with some getting as much as 100 per cent of their salary.
     
    She says the same kinds of arrangements are in contracts for key officials at international sporting events around the world so there's a guarantee that specific targets and goals will be met.
     
    Former deputy minister Saad Rafi, who was brought in by the Liberal government as CEO of the Pan Am Games after previous CEO Ian Troop was let go, is eligible for a $428,000 bonus.
     
    "The Games were a huge success...and the reason that happened is because of the job the team did, and Saad Rafi led that team," Wynne said.

    MORE National ARTICLES

    Canadian Auto Insurance Giant Working With Uber On New Products For Ridesharing

    Canadian Auto Insurance Giant Working With Uber On New Products For Ridesharing
    Intact Financial Corp. (TSX:IFC) said it is also working with insurance regulators and various levels of government in provinces where Uber is available to ensure the products that it develops are in line with regulatory requirements.

    Canadian Auto Insurance Giant Working With Uber On New Products For Ridesharing

    Wilfrid Laurier Names Business School For Blackberry Founder Mike Lazaridis

    Wilfrid Laurier Names Business School For Blackberry Founder Mike Lazaridis
    The tech pioneer gave the Waterloo, Ont.,-based school $20 million earlier this year to establish a program for technology executives and leaders.

    Wilfrid Laurier Names Business School For Blackberry Founder Mike Lazaridis

    Indian-Origin Man Varinder Singh Compensated For Being Sexually Harassed In New Zealand

    Indian-Origin Man Varinder Singh Compensated For Being Sexually Harassed In New Zealand
    A New Zealand court has awarded more than $35,000 to an Indian-origin man after he was fired for complaining about sexual harassment by his senior, a media report said.

    Indian-Origin Man Varinder Singh Compensated For Being Sexually Harassed In New Zealand

    QNX Founder And CEO Dan Dodge Steps Down From Blackberry

    QNX Founder And CEO Dan Dodge Steps Down From Blackberry
    TORONTO — The head of BlackBerry subsidiary QNX is retiring from the company he helped found by the end of this year.

    QNX Founder And CEO Dan Dodge Steps Down From Blackberry

    Quebec Premier To Sponsor Syrian Refugee Family With Help Of Others In Riding

    QUEBEC — Premier Philippe Couillard is going to sponsor a Syrian refugee family with the help of other people in his riding north of Quebec City.

    Quebec Premier To Sponsor Syrian Refugee Family With Help Of Others In Riding

    Pension Managers Must Consider Climate-Change Risks: Legal Study

    Pension Managers Must Consider Climate-Change Risks: Legal Study
    A legal study says climate change is one of the biggest risks faced by Canadian pension plans and trustees will be increasingly forced to take it into account.

    Pension Managers Must Consider Climate-Change Risks: Legal Study