Rio de Janeiro Olympics organizers were accused by Brazil's federal accounts court of "withholding financial information in the buildup to the 2016 Games, the first to be held in South America," according to Tariq Panja of BLOOMBERG. Expenditure is being scrutinized after "spending on stadiums" used during this year's World Cup in Brazil "exceeded the original budget" by 50%. The accounts court, known as TCU, said in a report released on Sunday that Rio 2016 organizing committee officials "failed to provide details of their payroll for the past 12 months, the identities of employees and their roles, and the committee's annual budget and contract details." Rio 2016 Communications Dir Mario Andrada said that the committee "supplied additional information to the TCU last week and that the organizers probably won't need to use public funds." Andrada: "The committee has been operating for five years and hasn’t used any public money so far." Organizing the Olympics will cost $2.7B, according to the latest estimates, with the costs "being met through sponsorship, ticketing and a grant" from the IOC. Brazil's government has pledged to make up $700M of any shortfall (BLOOMBERG, 12/8).
