Oly: Socog announces measures to balance budget

AAP General News (Australia)
02-17-2000
Oly: Socog announces measures to balance budget

SYDNEY, Feb 17 AAP - Sydney Olympic organisers have approved a package of measures
worth $36 million to balance the SOCOG budget, including increasing ticketing revenue
by $9 million.

SOCOG president Michael Knight said the package involved "nip and truck cuts rather
than amputation".

It includes: savings in corporate programs including marketing, ticketing and consumer
licencing amounting to $4.7 million; savings in operation programs of $4.3 million; savings
of $14.9 million in the programs outsourced to the Olympic Coordination Authority; savings
on internal administration within the Sydney Broadcasters SOBO of $3.2 million; and additional
ticketing revenue of $9 million, resulting from further detailed work to establish exact
venue capacities.

SOCOG chief executive Sandy Hollway said savings inside SOCOG would include reducing
the number of planned new staff, earlier staff terminations after the Games, reduced furniture
and equipment and reduced consultants and professional fees.

Also today SOCOG announced UPS distribution company had withdrawn from undertaking
ticket distribution for the Olympics.

AAP kr/vc/mo/ah

KEYWORD: OLY BUDGET

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