By Paul Osborne

The Glasgow 2014 Commonwealth Games were delivered £25 million under budget ©Getty ImagesGlasgow 2014 was delivered £25million ($40 million/€32 million) under budget, according to current financial reports published today. 

The surplus, announced by Glasgow 2014 chairman Lord Smith, falls within previously committed public funds that have not been required for the successful delivery of the Games.

"From the outset, the focus of the Glasgow 2014 Organising Committee and our Games Partners has been delivering a world-class Games for the Commonwealth which would make the people of Glasgow and Scotland feel proud," said Smith.

"Throughout the journey - and working closely with our Games Partners - the team at Glasgow 2014 has focused on achieving excellence and also value in everything we've done.

Glasgow 2014 was widely praised as the best Commonwealth Games ever ©Getty ImagesGlasgow 2014 was widely praised as the best Commonwealth Games ever ©Getty Images

He added: "It has also been very important to us that we have gone about our work in a responsible and sustainable way - ensuring that the Commonwealth Games experience has been accessible to as many people as possible, with the benefits of the Games felt widely.

"My thanks go to the thousands of individuals, communities, organisations and businesses across Glasgow, Scotland and the Commonwealth for their incredible support - as well as the 'Home Team' at the Organising Committee for their drive to make Glasgow 2014 a truly world-class but community-relevant celebration.

"It gives me considerable pride to now be able to say that Glasgow and Scotland have made Games history...and have done so well within budget."

The Glasgow 2014 Organising Committee's budget was £372 million ($591.5 million/€477 million) of public funds plus commercial income generated by organisers through sponsorship, ticket sales, broadcasting rights and merchandise sales.

The budget included contingency of £66.1 million ($105.1/84.7 million) - £42.3 million ($67.4 million/€54.2 million) general contingency and £23.8 million ($37.9 million/€30.3 million) special reserve.

The outturn forecast of £25 million ($40 million/€32 million) of under-spend demonstrates that this special reserve has not been required.

A final budget position will not be confirmed formally until Glasgow 2014's closing accounts are completed early next year

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