This is approximately $1,182 for gold, $709 for silver, and $473 for bronze. The numbers do not include tax penalties or fees. The British Olympic Association (BOA) confirmed the sums on July 26, 2016. They are paid exclusively by the government and are kept in a special account until the end of the year when they are distributed among the winners. Since 2001, when it was first introduced, everyone who has won an individual gold medal at the Olympics has been awarded £300,000 ($370,000). In addition, the country's winning teams have each been given £5 million ($6 million). The awardees are selected by BOA officials who consult with sports ministers about who should be given what amounts. All proceeds from the sale of gold, silver, and bronze medals are put into a dedicated fund that can only be used for sports purposes. Their distribution is planned annually by the BOA and approved by the government. In 2012, Britain had four athletes win gold medals: Jessica Allen in women's basketball, Greg Rutherford in men's tennis, Helen Glover in sailing, and Bradley Wiggins in cycling. Each received a payout of £320,000.