VANCOUVER, Canada -- The budget for the 2010 Winter Olympics has been revised to cope with the global economic crisis to 1.76 billion Canadian dollars (1.43 billion US dollars), up from 1.63 billion dollars (1.32 billion US dollars), organizers announced Friday.

Officials budgeted an additional 127 million dollars (103 million US dollars) in revenues and expenses, which was approved January 21 by the board of local organizers, but only publicly released Friday.

The revised figures show the Olympics' priority on athletes and sporting events, John Furlong, chief executive officer of the Vancouver Organizing Committee, told a news conference in this western Canadian metropolis.

He also added this will be the last budget update before the start of the Vancouver Games.

The new budget predicts a drop of more than five million dollars in sponsorship revenue from the International Olympic Committee, domestic sponsorship revenue falling by more than three million dollars, and marketing royalties dropping by nearly 129,000 dollars.

Officials boosted the Games' contingency fund from 50 million dollars to 77 million dollars.

The original contingency of 100 million dollars had been partly used, as expected, and fell to 50 million dollars by this month.

The 27-million dollar cushion was included mostly as insurance in case private sponsorship pledges fall short, said executive vice president Dave Cobb.

Officials said expenses rose by more than 35 million, partly because of an unexpected jump in attendance by journalists, sponsors, and other organizations associated with the Olympics.

Cost-cutting measures include five million dollar savings at Whistler, where alpine events will be held, by a plan to present medals in their venues instead of a traditional daily ceremony, said Furlong.

Officials complained in a background briefing that the media has linked political controversies and scandals affecting local preparation for the games to the official Olympics.

There has been intense political criticism of the rising costs of security provided by Canadian police and military forces, financing of the Athletes Village in Vancouver, the cost of a city convention center, and the cost of upgrades to the highway between Vancouver and Whistler.

One newspaper estimated the overall cost of the games at six billion dollars.

"There?s been a lot of talk about the games," Furlong said.

He then touted the economic advantages of having the games.

"This coming year Vancouver 2010 will spend about 1.3 billion dollars in this economy. Most of it will be spent in British Columbia and our partners will equal that easily. That?s 2.6 billion dollars, and that?s a lot of reason for optimism."