2.20 Whilst the projects surveyed were generally satisfied with performance so far since refinancing, it is too early to judge how well the incentives to perform following a refinancing are likely to work in the longer term. In particular, following a refinancing, if the project company distributes to the shareholders a very high level of accelerated benefits to the detriment of retaining contingent funds there could be a risk that the project company would find it difficult in future years to fund one-off items of expenditure such as large value items of building maintenance or contingencies (unforeseen items of expenditure). Investors have acknowledged to us that service expenditure needed on maintenance can vary significantly from earlier estimates. The private sector's ability to fund whole life asset maintenance is an issue which the public sector needs to monitor. The Treasury agrees this is an important issue which it expects authorities to give proper attention to, but noted that the incentives to perform outlined in paragraphs 2.17 to 2.19 will require the PFI contractor to give appropriate consideration to asset maintenance.