RIO DE JANEIRO - Rio Olympics organisers bullishly insisted no public money would be required to finance the 2016 Games on Tuesday as they handed over accounts documents to financial regulators.
A sculpture of the Rio 2016 Olympic Games symbol is on display during a press conference at the headquarters of the Rio 2016 Organising Committee for the Olympic and Paralympic Games in Rio de Janeiro, Brazil, on Aug 4, 2014.
Officials submitted documentation to Brazil's accounts court (TCU) amid media reports the host city faced a fine if it did not comply.
"The committee has been operating for five years and hasn’t used any public money so far, and we don’t intend to use public money throughout the journey to the Games," said Games communications director Mario Andrade, attending a special session of the International Olympic Committee in Monaco.
The Brazilian authorities are keeping a close eye on expenditure after a public outcry at the cost of World Cup stadiums which went over budget while a slew of infrastructure and urban mobility projects remain unfinished five months after that event finished.
Valor financial daily on Monday highlighted the soaring cost of the athletes' village, with the hosts facing a likely cost increase of around $80 million, heightening TCU concerns over cost transparency.
A source told AFP the organizers would meet the difference after the event, having a legal obligation to do so, at the same time stressing that organizers "do not foresee a shortfall".
The operational budget for the Games is seven billion reais ($2.7 billion) which will be met via receipts from ticketing and sponsorship as well as International Olympic Committee funding, although the Brazilian government has set aside an emergency fund of $700 million.
The government is slated to spend around $11 billion on infrastructure, notably giving Rio a facelift and massively overhauling public transport links.
In a further development Tuesday, the Games organizers and International Cycling Union (UCI) confirmed the Olympic road race routes, featuring two climbs, and time trial routes with iconic beaches Copacabana and Ipanema providing spectacular backdrops.
The men's course, which will take place on the second day of the Games, August 6, is 256.4km long with the women's course the following day 130.3km.
The races will start in Flamengo Park near the city center and take competitors through beach districts Ipanema and Copacabana.
Organisers also confirmed the 29.8km time trial course, finishing at Pontal Beach in western Rio.
UCI President Brian Cookson said from Monaco the UCI had worked closely with the Rio organizing committee to produce challenging routes which mix "some of Rio de Janeiro’s most iconic backdrops such as Copacabana and Ipanema with some really testing sections."
Rio mayor Eduardo Paes said: "The Olympic Road Race has historically incorporated iconic backdrops and Rio 2016 will be no exception."