Bogdanovic has been ranked as high as 108 in the world
Britain's Alex Bogdanovic is not among the 43 players who will receive the highest level of support from the Lawn Tennis Association over the next year.
The British number two is ranked 164th in the world, 97 places above British number three Dan Evans who is retained as part of the LTA's Team AEGON.
Bogdanovic, 25, is one of 11 players cut from the programme but 14 leading juniors have been added to the list.
Players not retained are still eligible for a reduced level of support.
Bogdanovic was told in June that he was unlikely to receive another wildcard at Wimbledon following his eighth successive first-round defeat at SW19.
The Belgrade-born left-hander had his funding cut in 2004 because of a perceived lack of commitment, before recovering to reach a career-high of 108 in the world in June 2007.
But his best results in 2009 were a Challenger title in Denmark in October and a battling run to the last 16 in Eastbourne ahead of Wimbledon.
He has also lost his place in Great Britain's Davis Cup squad following just one victory in eight singles rubbers.
British number seven Naomi Broady has not been included in the elite team despite finishing the year by winning three straight ITF titles and rising to a career-high ranking of 309.
The 19-year-old had her LTA funding cut in 2007 after posting "unprofessional" pictures and messages on a social networking website.
Team AEGON provides players with training at the National Tennis Centre in Roehampton or at a performance venue of their choice - either nationally or internationally - as well as "substantial travel assistance" and access to a range of sport science support.
LTA player director Steven Martens said: "The Team AEGON Programme is based primarily on an evaluation of whether the players have met their individual ranking target over the past 12 months.
"It is also an assessment of their own personal targets, including elements of their technical, physical and tactical progress.
"It's really positive to see 14 players make the transition from the AEGON FutureStars programme to Team AEGON, showing some real progression and also providing other players with something to aim for."