Friday, October 26, 2007

More Transparent Bookkeeping Rules For 2016 Bid Cities - IOC

The seven cities bidding to host the 2016 Summer Olympic Games have been told by the International Olympic Committee (IOC) to provide more accurate budgets of costs in their bids. The cities were told at a seminar in Lausanne this week that the final cost estimates should be in 2016 prices.

This Is London reports the IOC has adopted “more transparent” bookkeeping rules following recommendations from London 2012 and Vancouver 2010 organizers whose budgets have come under pressure due to rising property venues.

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