Feedback was called for on the viability of Sydney Water as the coalition considered upgrading water infrastructure in the city's west, according to documents seen by AAP.
"Shareholders have shown a preference for maintaining or increasing returns to government and asset recycling," according to a board-level briefing note generated by the utility.
Asset recycling is the sale of public assets to return cash to the state.
The report, prepared in February 2021 when Premier Dominic Perrottet was treasurer, outlines five options for Sydney Water, including a full sale or partial sale, managing the assets as they are or introducing developer charges.
Ten days out from the March 25 election, privatisation has sharpened as a key voter issue, despite the major parties vowing not to sell public assets in the next term of government.
"There's no privatisation of Sydney Water and there is no privatisation of Sydney Water assets. We've already made that very clear," Mr Kean told reporters on Wednesday.
"It's not unusual that Sydney Water uses contractors that work for them," he said accusing Labor of running a "scare campaign".
Mr Kean also faced a grilling about the Liberals' signature policy The Kids Future Fund launched on Sunday.
The fund would set up an account for every child 10 years and under to receive $400 a year from the government until they turn 18.
It remains unclear whether a child born interstate in border towns such as Tweed Heads or Albury-Wodonga would eligible for the scheme.
The treasurer says the premier "will answer those questions", adding details of the policy have not been finalised.
It was the government's "intention" for every child in NSW under to 10 to be included in the program.
The fund has been heavily criticised for creating a hierarchy of inequality benefiting wealthy families who can contribute up to $1000 a year to maximise the nest egg.
Mr Perrottet told reporters on Tuesday only children born in NSW would be eligible, despite contrary advice offered by Nationals MP Nichole Overall.
The premier's office clarified that children would be able to access the scheme by their parents using their principal place of residence.
The policy is projected to cost $850 million over the next four years and $525 million a year at its peak.
The premier and the opposition leader are set to face off in a midday debate on Wednesday.
