Following that, the Major Events Panel submits an investment proposal to the UK Sport Board. UK Sport puts National Lottery funds into large events and is a deficit funder, which means we only consider investing in events that require our financial help to be staged. The majority of their income comes from three sources: government funding, commercial sponsorship and merchandise sales. Government funding provides for the management and delivery of major sports events such as the Olympic Games and Paralympic Games. It also covers the costs of other large-scale sporting activities such as world championships and the annual UCI Road World Championships. UK Sport receives nearly half of its budget from the government; the rest comes from corporate sponsors and the sale of merchandise. UK Sport is a non-departmental public body sponsored by the Department for Culture, Media and Sport. It was set up in 2001 to replace the Millennium Commission and allocate funds from the government to support British athletes who wanted to compete at international competitions. Before 2001, they were called the Ministry of Sport. They work with local councils to identify the needs of young people within their boundaries and then match those needs with the resources available. For example, if there are few opportunities for young people in a particular area to participate in sport, then UK Sport might fund some projects designed to increase accessibility to activity for this population.