City Council papers show Birmingham had been expecting to raise £75 million ($102 million/€90 million) from its dealings with partners but the actual amount is likely to be around £50 million ($68 million/€60 million).

The Birmingham Mail reported it was unlikely the Council will receive any further contributions, raising the possibility of using emergency funds.

The City Council and its regional partners in Birmingham are set to contribute £184 million ($250 million/€221 million) towards the estimated £778 million ($1 billion/€934 million) cost of staging the Commonwealth Games, according to the documents.

There are no suggestions at this stage that the shortfall will negatively impact the Games, scheduled to open on July 28 and conclude on August 8.

Ian Ward, Leader of the Council, has claimed this week the event will be the "best Commonwealth Games there has ever been".

"If I might first of all take this opportunity to assure everyone that we are on course to deliver the Commonwealth Games this summer," Ward said.

"We're planning for full stadia, and we're planning for the best Commonwealth Games there's ever been to be hosted in the city of Birmingham and the wider region.

"We are determined that we will deliver not only the best Commonwealth Games but the most accessible Commonwealth Games there has ever been, and it will genuinely be a Games for all."