Quarterly budget update
Overview
The overall £9.325bn Public Sector Funding Package for the Games remains unchanged and the project remains on time and within budget.
As we approach two years to go to the Games this July, the Anticipated Final Cost (AFC) – the current forecast of final costs of the ODA’s programme, including risks, scope changes and inflation – has again not significantly increased in the quarter. The current AFC is £7.267bn compared to £7.262bn at the end of the last quarter (December 2009), an increase of £5m, less than 0.1 per cent.
As noted in the Annual Report published in February 2010, the ODA is currently developing the scope andcostings for Park Operations and a further update will be included in the next quarterly report.
The majority of contingency remains unreleased and the ODA continues to make strong progress in preparing the venues and infrastructure in the Olympic Park and elsewhere, with over 65 per cent of the programme to the 2012 Games now completed.
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