A triumphant final report has been issued by Vancouver 2010, explaining that the Games broke even and no more assets or outstanding debts remain.
As a result of this, and with total revenues and expenses just under $1.9 billion (£1.1 billion/€1.4 billion), the Organising Committee has requested to the Canadian Government to be dissolved.
The final report confirmed the Federal Government contributed $74.4 million (£54 million/€44 million) and the British Columbian Government $113.4 million (£66 million/€83 million) and other Governments $176 million (£102 million/€129 million).
A total of $659 million (£384 million/€485 million) was also provided by the International Olympic Committee (IOC) while substantial sums were raised by ticket sales, as well as through licencing and merchandising.
"It was 11 years ago yesterday we took the stage in Prague and we made promises," Vancouver 2010 chief executive John Furlong said following the release of the report.
"We made commitments in the name of the country, we made commitments to the IOC and we made commitments to the Canadian public that we would deliver the Games in the black and so we set out to do that."
Furlong, who has been involved in a variety of controversies since Vancouver 2010 including claims that he physically and verbally abused British Columbia students more than 40 years ago, added the global economic collapse in 2008 was a major challenge for the Organising Committee.
But despite admitting this was a "worry", Furlong claimed the Games were a good example of how to sustainably stage major sporting events.
This comes at a time where there has been concern over the large spending seen at other events, including the most recent Winter Olympics in Sochi as well as the ongoing FIFA World Cup in Brazil.
"I look at our situation and think we are a very good model of how to do these events," he claimed.
"This is, to me, very good for the Canada brand of being reliable, being trustworthy, keeping your promises, being on time and on budget, being responsible about the things that really matter to the public."
Critics have pointed out that some of the most expensive infrastructure of the Games, including the Sea to Sky Highway, the Vancouver Convention Centre and a rapid transit line to the airport, are not part of the Vancouver Organisng Committee for the 2010 Olympic and Paralympic Winter Games' tally, as they were part of the infrastructural rather than the operational budget for the Games.
But Furlong said all the buildings and infrastructure are currently in use and that the Games had left a debt-free legacy for the country.
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February 2014: Winter Olympic 2010 host city Richmond signs up to sustainability programme
February 2011: Behind the scenes documentary revisits the moments, medals and magic of Vancouver 2010