It is understood UK Sport plans to announce the funding breakdown for specific sports for the LA 2028 cycle in December.
Munday acknowledged the money invested will enable British athletes to receive “world-class support” in the build-up to the Games in the United States.
She added: “This includes enabling investment into some of the best coaches, sports science and medicine in the world.
“[It will] contribute towards costs of training environments, camps, travel, accommodation, and entry into international competitions outside of the Olympic and Paralympic Games.
“It also enables over 1000 athletes across 50 sports to receive grants to contribute to their living costs.”
Athletes are also funded through National Lottery grants, called Athlete Performance Awards (APAs), which are intended to allow them to focus on their sport.
For the Paris 2024 cycle, the maximum APA was £28,000 per year. The BEAA estimated the average athlete earns less than £22,500 annually.