Taxpayer's interests have been fully protected in compensating for the difficulties experienced by G4S' security shortcomings during the Olympics, according to Locog.
Its chief financial officer Neil Wood said the overall agreement reduced the payment due to G4S by £85 million, comprising £48 million to cover step-in costs by police and military and £37 million primarily for project management failures.
The savings arising from this settlement brings the total savings to the public purse from the Locog venue security budget to £102 million compared to the position in December 2011.
More top news
An eight-year-old boy who had to have both hands amputated as a toddler has been given the world's first double hand transplant.
Texas officials have released video taken in jail of Sandra Bland, the woman found dead in her cell three days after a controversial arrest.
A former member of the Bank of England's Monetary Policy Committee has told ITV News interest rates need to rise "sooner rather than later".