A balanced Olympic budget is within reach, VANOC said yesterday as efforts continue to dissolve the organizing committee.

Precise budget numbers were not given, but will be announced this fall.

At its peak, VANOC had 1,500 employees spread over two office buildings in East Vancouver. The organization now numbers 128 employees, a number that will be reduced by half each month.

Remaining staff will converge on a single floor and will wrap up the finances ahead of the end of operations on Nov. 1. By the middle of July, the only ones left will be financial employees.

Other work includes the handover of venues and the official 2010 debrief in Sochi, Russia, next month. About 35 VANOC employees will travel to Russia for the debrief.

CEO John Furlong said he will remain with the organization until its close, but will stop working at the VANOC office after June 30, returning to the building only when needed.