The Public Accounts Committee established its Inquiry into the Funding of Capital Projects by the New South Wales Government to address issues which have become evident in both privately and publicly financed infrastructure. Under the Terms of Reference the Committee examined: the funding of large capital projects by the NSW Government, including the impact of legislative requirements and budgeting practices; private sector funding practices for infrastructure projects, including any benefits to arise from the optimisation of project construction and funding periods; an examination of the funding aspects of selected capital projects, including the balance of risks and rewards between the State and private enterprise, the cost of underwriting by the State and accounting/taxation treatments; whether improvements are possible to the funding arrangements for large capital projects, including improved economic benefits and service provision, and any implications for the funding of infrastructure in regional and rural NSW; and any other relevant matters.