On Monday, UK Sports Minister Hugh Robertson confirmed that the budget for the opening and closing ceremonies for the Games would be doubled to £81 million while spending on venue security would be boosted by £271 million to more than £553 million. Although the money has come from contingency funds within the Olympics’ official budget of £9.3 billion, a National Audit Office report stated that “not everything is rosy” as little room had been left for unforeseen costs.

“The government is confident that there is money available to meet known risks, but, in my view, the likelihood that the games can still be funded within the existing £9.3 billion public sector funding package is so finely balanced that there is a real risk more money will be needed,” said Morse, according to the Associated Press. The British spending watchdog, which is an independent organisation that examines public spending on behalf of Parliament, added that only £500 million remains unallocated for dealing with future costs.

Auditors also expressed concern about the failure to finalise transport plans around the competition venues for the Games, with the initial deadline having been pushed back from November to March. “The experience of spectators, visitors and Londoners in general would be diminished and the reputation of the Games put at risk if these issues were not sorted out,” Morse said of the transport and security issues. Just hours before the report was released, UK Olympics Minister Hugh Robertson said he was “confident” the Games could be staged within the £9.3 billion budget.