The London 2012 Olympic Games resulted in almost £80 million being spent on various projects in Waltham Forest, according to a report.

Figures from the council state state £33.9 million from various public bodies was spent on capital works such as street improvements and a new bridge, along with an estimated £40 million for the redevelopment of Leyton's Eton Manor playing field funded direct from Olympic bosses.

A further £5.6 million was made and spent by the council on events, parking schemes and other expenditure.

However the figures include money taken from Olympic budgets but not used on projects directly related to the Games.

This includes the £1.6 million used by the council to bail out its renovation of Walthamstow's Lloyd Park after consultants under-estimated the cost of the scheme.

The report reveals £440,000 was spent on smartening up businesses at the top of Walthamstow High Street, £750,000 on similar works in Leyton High Road, £209,500 on the renovation of Leyton's renamed Jubilee Park and £230,000 on the new Ruckholt Road footbridge.

The £5.6 million includes the council spending £1.6 million on its 'Big Six' events to celebrate the Games, which included fireworks displays, concerts and a Christmas-themed Winter Wonderland.

The report also reveals that the council spent £47,000 on temporarily resurrecting the post of Deputy Mayor of Waltham Forest.

Cllr Nadeem Ali, son of cabinet member Cllr Liaquat Ali, was appointed to the post, spending £10,000 on expenses and £37,000 on staff costs.

Other spending included £9,800 on Olympic and Paralympic tickets, £323,000 on the torch relay through the borough and £952,000 on parking enforcement.

There was also £30,000 spent on producing additional copies of the council's freesheet Waltham Forest News.

Another revelation is that the council made £90,000 from its controversial decision to rent out Low Hall Playing Fields in Walthamstow for a campsite during the Games, although it lost £17,000 of that due to lack of revenue from its sports pitches.

The figures were revealed in a council report to its Finance Scrutiny Sub-Committee.

The report concluded:" The total capital and revenue expenditure associated with Olympic projects is significant and is proportionate to the borough’s relationship with the Games and their staging...

"Investment in Waltham Forest continues on a large scale. Whether this is a result of the Games would be hard to prove however there is no doubt that Waltham Forest and East London as a whole has a new profile as a place to do business."

The committee has asked the council to provide a detailed break-down of the spending on the deputy mayor for its next meeting.

The authority estimates that this investment, including projects such as the reopening of Lea Bridge Station and the redevelopment of the Arcade Site in Walthamstow, totals around £75.7million.

Responding to questions about the spending, a council spokesman said: "The London 2012 Olympic and Paralympic Games were a once in a lifetime opportunity, and the council wanted to ensure that as a host borough we made the most of them for our residents.

"Part of this involved publishing Waltham Forest News weekly during Games-time to ensure that residents could find out about the latest news, offers and information, and to ensure that any disruption to services was communicated quickly and effectively.

"The additional editions of the newspaper were fully funded through advertising income.

“It was also important to ensure that the council could deal with the anticipated increase in the number of Mayoral engagements in a year that not only saw the Games come to the borough, but also included the celebrations of the Queen’s Diamond Jubilee.

"In order to make the most of this busy year the role of Deputy Mayor was reinstated for one year only and has now been withdrawn again."