By Frank Malley, PA Chief Sports Writer, Sydney

The red, white and blue was fluttering gloriously over Sydney on Sunday after Britain completed its most triumphant Olympics for 80 years.

Boxer Audley Harrison and modern pentathlete Stephanie Cook both struck gold on a dazzling final day to take Britain's golden haul at these Games to 11.

Not since George the Fifth was on the throne, David Lloyd George was Prime Minister, the United States banned booze and London's police were given cars instead of horses for the first time, has Britain collected more of sport's most precious medals at sport's greatest festival.

That was at Antwerp in 1920, when Britain garnered 15 gold - Albert Hill winning the 800m and 1500m - in a world recovering from the austerity caused by the Great War.

Not since Los Angeles in 1984 - the subject of an Eastern bloc boycott - has Britain won more medals overall.

Then we won 37, this time we have amassed 28 - 11 gold, 10 silver and seven bronze. But it is the medal with the golden hue which is the benchmark in world sport.

And in modern terms nothing comes even close to the achievements at Sydney 2000, where Britain stands 10th in the medal table immediately behind Cuba, Holland, Italy and France.

Many would say even that is not good enough. And even before the spectacular closing ceremony - with its F1-11 jet soaring above Stadium Australia in after-burner mode, Kylie Minogue, Greg Norman, fireworks galore and a quite sensational dousing of the Olympic cauldron and river of fire - Britain's top sportsmen and women were queuing up with a message for Prime Minister Tony Blair: 'Don't cut our cash'.

No-one exemplified the value of the Lottery funding elite athletes have been receiving for the last three years better than Cook. A qualified doctor, Cook was only able to compete in Sydney - the first time a women's modern pentathlon has been held in the Olympics - because of Lottery help.

As she sat with gold gleaming around her neck she said: "It was only through the Lottery funding I receive that I was able to do this and train full-time. There is no way I would be able to get up to the standard required without it."

Talk of the level of funding being cut, as the Lottery pot dwindles, means Cook now has to decide whether to carry on in the sport or return to medicine. Steven Redgrave, Britain's most revered sportsman and who made history when he won his fifth consecutive gold medal in the coxless fours, also issued a stark warning on behalf of all Britain's competitors.

"Rumour has it that the budget will be cut," said Redgrave. If that does happen it would be a big mistake. Funding needs to be long term. If we can do this well here, we can do better in the future.

"What we have done here is a good platform but there is no reason why we can't go on and compete for medals with the likes of Australia, Italy and Romania."

The funding cudgels were taken up by the officials, who have undeniably brought to Sydney the best-prepared British athletes for generations.

Craig Reedie, chairman of the British Olympic Association, said: "It's inconceivable with the success of this team that there can be any cut in the funding.

"There has been a huge increase in government funding and we have proved that it works."

Simon Clegg, the British team's Chef de Mission, added: "British sport has suffered from severe underfunding for the last 30 years but what we are seeing now is the grass roots of recovery."

It was a recovery which stunned the likes of Kate Allenby, who took bronze in the women's modern pentathlon as Britain stormed the final day podiums. "This just means everything," she said. "Everyone out there was just so fantastic. I'm in tears. I can't believe it - we've got two medals. This was a very strong field and I can't believe that we've got two athletes in the podium in our first Olympic Games."

Her disbelief matched the pride of a squad which was brimming with heroes. From cyclist Jason Queally, who kick-started the momentum with victory on the first day, the golden roll-call deserves to take another bow - Queally, shooter Richard Faulds, rowers Steven Redgrave and co. in the coxless fours and the men's eight, athletes Jonathan Edwards and Denise Lewis, sailors Shirley Robertson, Ben Ainslie and Iain Percy, boxer Harrison and modern pentathlete Cook.

As the athletes milled in Stadium Australia in an atmosphere of fun and frivolity you couldn't help feeling that they just might have made a breakthrough of dramatic dimensions.

For officialdom to let it go to waste for the sake of a few million pounds a year would be negligence verging on the criminal. "Heroes Live Forever" are the words of Sydney 2000's Olympic anthem - Britain's golden 11 have certainly acquired sporting immortality.

All that was left was for Olympic president Juan-Antonio Samaranch, in his last year in office, to declare these Games the best-ever since Baron Philippe de Coubertin resurrected them in their modern form back in 1896.

"The Sydney 2000 Games showed that, with the help of the United Nations, the Olympic truce can be a reality, as demonstrated by the historical joint parade if the two Korean delegations at the opening ceremony," said Samaranch.

"These are my last Games as IOC president. They could not have been better. I am proud to proclaim that you have presented to the world the best Olympic Games ever."

Few would argue with that sentiment - Athens 2004 has a tough act to follow. The Olympic flag was then handed over to Greece by Lord Mayor of Sydney Frank Sartor, the Olympic cauldron was doused and an exhausting 17 days gave way to a riotous night of spectacular celebration.

Seventeen days which helped put some of the great back into sport in Great Britain.