The operating budget for the Olympics and Paralympic Games in 2016 has jumped 27 percent to $2.93 billion (£1.7 billion).
Officials told a news conference on Thursday (January 23) the new total for the combined Games in Rio was less than London spent in 2012, explaining the rise was due to factors like inflation and new technology.
Four sports have been added since the bid was won in 2009 - rugby sevens, golf, para-canoe and para-triathlon - and the revised bill also has more details.
Arthur Nuzman, president of the Brazilian Olympic Committee and the local organising team, said that they want to avoid relying on public funds.
"Our goal is to hold a magnificent Games. We want to ensure a balanced budget (and) avoid any transfer of public funds to the committee," Nuzman said.
Just over half the budget will come from local sponsors while the International Olympic Committee (IOC) will contribute 21 percent.
Around 13 percent is to be raised by ticket sales, nine percent from international sponsors and six percent by licensing and other income.
A quarter of the budget was originally supposed to come from government sources but officials said they would no longer take public money.
That decision comes seven months after the biggest public protests in 20 years erupted on the eve of the Confederations Cup football tournament, the test event for the World Cup that will be held in Brazil in June and July this year.
The budget does not include venues, infrastructure or security.
The government will announce the bill for venues and other projects on Tuesday and the cost of infrastructure such as new metro lines and bus lanes will be revealed in March, even though some of the schemes have already begun.
Presented by Adam Justice