Paris 2024 interministerial delegate Michel Cadot said preparations and budgeting for the Olympics and Paralympics are "very well controlled" ©Getty Images

The interministerial delegate for the Paris 2024 Olympics and Paralympics Michel Cadot has insisted that preparations and budgeting for the Games are "very well controlled".

French publication L'Équipe reported that the Organising Committee's budget for Paris 2024 rose from €3.903 billion (£3.252 billion/$4.225 billion) to €3.980 billion (£3.316 billion/$4.512 billion) at the end of 2021, according to its chief finance and compliance officer Fabrice Lacroix.

This reflected additional income from the International Olympic Committee's global hospitality provider On Location.

Cadot is adamant that the Games are on track to be delivered according to plan.

"From the state's point of view, we consider that, in terms of progress in terms of respecting the schedule to carry out the deliveries of the Games in good conditions, as well as in terms of the budget, the files are very well controlled," Cadot said, as reported by L'Équipe.

A total of €300 million (£250 million/$340 million) has been set aside for "contingencies", Lacroix revealed, with "significant work" conducted by the Audit Committee on "risk identification".

A further budget review is planned at the end of 2022, with a report from France's Court of Audit also due to be submitted to Parliament this year.

Cadot added that the financial situation would be kept under scrutiny, with a more in-depth update expected in the summer of 2023.

Michel Cadot said security preparations for the Paris 2024 Opening Ceremony along the River Seine are
Michel Cadot said security preparations for the Paris 2024 Opening Ceremony along the River Seine are "in progress" ©Paris 2024

"It will undoubtedly be followed by a second report in the summer of 2023 which will make a more complete and detailed analysis of the budget revision adopted by the COJO's [Organising Committee's] Board of Directors at the end of 2022," Cadot said, according to L'Équipe.

Work on security preparations for the Opening Ceremony along the River Seine is "in progress", with organisers responsible for ticketed zones and the state for free areas.

"Given the magnitude of the effort required, the sharing will have to be done with the municipal police on the one hand and with private security for a small part, which will be the subject of a final negotiation in May to June," Cadot said, as reported by L'Équipe.

He also claimed that the plan remained to host shooting events at a renovated temporary site of La Courneuve, a former military ground which requires decontamination.

Representatives from Châteauroux have said the National Centre of Sports Shooting in Déols could stage competition, but this has been dismissed as "not an option" by Paris 2024, and Cadot concurred that this proposal is "absolutely not envisaged by the state."

Cadot's role is to connect the various parties responsible for delivering the Games, including state services, the Organising Committee, the public body charged with overseeing infrastructural projects Solideo and local authorities.

Solideo managing director Nicolas Ferrand has conceded that inflation in the price of raw materials meant the cost of building venues and infrastructure was above projections, although Paris 2024 has already sought to make cost savings in response to the COVID-19 pandemic.

Paris is set to host the Olympics for the first time in 100 years in 2024 from July 26 to August 11, with the Paralympics following from August 28 to September 8.