Britain's swimmers failed to hit their medal target of five to seven at the London 2012 Olympics, winning just three with the consequences of doing so now realised.
Having received just over £25 million in the four years leading to London 2012, British Swimming has been given just over £21m ahead of Rio 2016.
However the news is not as bad as others with UK Sport's 'no compromise' approach leading to handball, basketball, table tennis and wrestling being cut off completely while boxing has seen its funding increased by 44 percent.
Having been given just over £9.5m ahead of London 2012, boxing now gets £13.8m after winning five medals at London 2012 including golds from Nicola Adams, Anthony Joshua and Luke Campbell.
Rowing is set to take the largest slice of the total £347m on offer from UK Sport, an increase on £313m from the last four years, going from just over £27m to £32.6m.
Cycling will receive the second largest amount, £26m to £30.6m, with canoeing, equestrian and gymnastics being awarded significant increases.
Athletics has seen its funding increased by over £1.5m with diving, fencing, hockey, modern pentathlon, sailing, shooting, synchronised swimming, taekwondo and triathlon all receiving more.
Weightlifting and water polo, specifically the British women's team, complete the benefactors while archery, badminton, judo and volleyball are among the other losers.