Bread Not Circuses Coalition

Box 139, 365 Roncesvalles Ave.

Toronto, Ontario Canada, M6R 2M8

(416) 410-2267


Reality check: Bid promoters hide the real budget numbers
Fourth in a series - March 21, 2001

Even though the Olympics will be the biggest and most costly event in the history of Toronto, bid promoters refuse to release key information.

More than two and one-half years ago, Toronto City Council ordered bid promoters to disclose financial information:

"It is further recommended that. . . the Board of Directors of TO-Bid be requested to. . .fully disclose to City Council and the people of Toronto all budgets and financial statements."

Yeas: Councillors: Adams, Altobello, Ashton, Balkissoon, Berardinetti, Berger, Bossons, Brown, Bussin, Chong, Chow, Davis, Disero, Duguid, Faubert, Filion, Fotinos, Gardner, Holyday, Jakobek, Johnston, Jones, Kelly, Kinahan, King, Korwin-Kuczynski, Li Preti, Mahood, Mammoliti, McConnell, Mihevc, Miller, Minnan-Wong, Moscoe, Nunziata, O Brien, Ootes, Pantalone, Prue, Rae, Shaw, Shiner, Silva, Sinclair, Tzekas, Walker - 46.

Nays: Councillors: Cho, Feldman, Flint, Giansante, Lindsay Luby, Moeser - 6.

TO-Bid still refuses to talk:

"There truly was a misunderstanding on a particular point in our budget that we are going to revise and re-issue shortly," said John Bitove Jr. of TO-Bid. "But we are going to have to clarify a couple of details and get back to them." Bitove did not explain what the budgetary problem was. Canadian Press, March 12, 2001

TO-Bid's Sandra Levy denied that the bid is being done in a "secretive and undemocratic fashion." In a competition, she said, "you just don't throw your game plan to your opposition", Toronto Star, March 10, 2001

Some of the many documents that TO-Bid has refused to release:
- detailed budgets and financial statements for bid committee
- detailed budget for 2008 Games
- Answers to IOC Questionnaire (on financial and other issues)
- Toronto bid book.

The reason for the secrecy:

A majority of people in Toronto oppose spending public funds on the Olympics - this is the "opposition" that Levy refers to (see Reality Check #3). Olympic officials have to keep the real numbers from the people of Toronto until after they've committed taxpayers to the Olympics in July of 2001. There has been no independent financial review of Olympic numbers.

Bread Not Circuses Coalition
Box 139, 365 Roncesvalles Ave.
Toronto, Ontario Canada, M6R 2M8
Telephone - (416) 410-2267