"Let the supervisory bodies deal with this," he said at a meeting of the city's public counsel without specifying which organizations would investigate the expenditures. "They will sort it out."
Putin noted Sochi undertook numerous building projects in preparation for the Olympics.
The Kremlin has said it only spent $5 billion to $7 billion on Olympic preparation not related to infrastructure.
International media has criticized Russia for spending an estimated $50 billion on the event, with some reports saying as much as $30 billion of the total was embezzled, the Russian news agency RIA Novosti reported Monday.
2014: The Year in Music [PHOTOS]