Salt Lake Olympics organizers predict a $50 million surplus if the city hosts the 1998 Winter Olympics, despite a significant reduction in the amount of revenue that the International Olympic Committee might share with the host city.

The Salt Lake Winter Games Organizing Committee submitted a budget Friday to the U.S. Olympic Committee as part of a USOC-required questionnaire detailing $451 million in revenue from the games and only $401 million in costs.The $50 million surplus won't come back to Utahns if the city hosts the Games. Rather, the USOC and IOC would split $10 million while the city's organizing committee would reap $40 million to be used for sports development.

The Olympic budget includes $110 million for building and improving Olympic venues, including $72 million for constructing new facilities and another $38 million for improving existing winter sports centers.

Organizers will spend $56 million in tax dollars generated under a Winter Games taxing authority created this year by the Utah Legislature - money the budget says will be repaid with Olympic revenue.

"The commitment that has been made by the organizing committee is that that investment will be repaid," said Mike Zuhl, chief of staff to Salt Lake Mayor Palmer DePaulis.

The chief money-maker for the Olympics - if the city wins the U.S. bid this June and then prevails in 1991 before the IOC - is $210 million in foreign and domestic broadcast rights to the Games.

Although that's nearly half the revenue forecast, it could be greater except for an IOC proposal to reduce the share of media revenues the host city would enjoy from 66 percent to 50 percent. The IOC would retain the difference.

The IOC will reduce the share to a 60-40 split for the 1994 Winter Games and, under a recommendation from IOC President Juan Antonio Samaranch, will pare it to 50-50 for the 1998 Winter Games, USOC Dep. Sect. Gen. John Krimsky said.

Opting to toe a conservative line, Salt Lake organizers stuck to the 50-50 scenario and assembled a budget they still believe will keep the city, which bears financial responsibility, and taxpayers in the black.

"We've tried to take a conservative but realistic view of what revenues can be . . . We also have attempted to be conservative with respect to expenditures," Zuhl said.

Calgary, Canada, which came away from hosting the 1988 Winter Olympics with a $32 million surplus, posted expenditures of $526 million in the 15th Olympic Winter Games Official Report - $125 million more in costs than Utah's forecast.

The difference is a result of the plethora of ski areas and other facilities already operating in Utah. "We're not going to build as many facilities as they did. It's that simple," said Brad Barber, state director of economic analysis.

However, the city chosen to be the U.S. bidder must, under a USOC requirement, begin building three facilities before the IOC chooses who will actually host the Games.

The organizers' budget includes a bare-bones $40.4 million to construct ski jumps, a bobsled-luge run and a speedskating arena - and all fall under the USOC requirement. Other improvements could be made later.

Those facilities will be funded via the Utah Winter Games Authority, which will raise $56 million in taxes.

`If we can bring the Olympics to Utah . . . the economic benefits will make that investment worthwhile," Zuhl said.

The new Jazz arena, which Jazz owner Larry Miller hopes to complete by August 1991, helped trim costs in the city's budget. The 18,500-seat facility will house Olympic hockey and figure skating.

*****

(CHART #1)

Olympic costs

Athletes' food/housing..... $35

Transportation..............$16

Medical provisions...........$6

Communications..............$40

Security....................$40

Venue operation.............$20

Promotion...................$18

Hospitality..................$6

Ticket services.............$10

Insurance....................$8

Administrative services.....$22

Protocol....................$10

Contingency fund............$20

Repayment of public funds...$30

Cultural events.............$10

New construction............$72

Facilities improvements.....$38

TOTAL......................$401

*****

(CHART #2)

Games revenue

Here's where money to fund the Olympics would come from:

Donations..............$10

Ticket sales...........$50

Licensing fees.........$80

Souvenir sales.........$35

TV/radio rights.......$210

Gov't. contributions...$56

In-kind donations......$10

TOTAL.................$451

(Figures in millions of dollars