Releases

As of July 2015, the Economic and Revenue Reports have been discontinued. They are now included in the Monthly Trend Reports.

IFO Releases

Analysis of Recent Collective Bargaining Agreements

January 12, 2017 | Other Documents and Requests

Pursuant to section 604-B(a)(8) of the Administrative Code of 1929, the Independent Fiscal Office has prepared a cost analysis of the collective bargaining agreements between the Commonwealth of Pennsylvania and the following six unions:

  1. Correctional Institution Vocational Education Association (CIVEA)

  2. Federation of State Cultural and Educational Professionals (FOSCEP)

  3. Office and Professional Employees International Union (OPEIU), Healthcare Pennsylvania

  4. PA State Education Association (PSEA), Non-Tenured Teachers

  5. Service Employees International Union (SEIU), Healthcare Pennsylvania

  6. United Food and Commercial Workers (UFCW)

Full Report

Updated School District Property Tax Forecast

January 09, 2017 | Research Briefs and Special Reports

Letter updating the IFO's forecast of school district property tax collections for FY 2015-16 through FY 2021-22. The letter also includes projections of school district debt service payments and earned income tax collections for FY 2015-16 through FY 2021-22.

Total school property tax collections for FY 2015-16 ($13.6 billion) and FY 2016-17 ($13.9 billion) are estimated using millage rates published by the Pennsylvania Department of Education. For FY 2017-18 through FY 2021-22, collections are projected based on a forecast of the Act 1 index and exceptions. During that period, total school property tax collections are projected to grow by an average annual rate of 3.5 percent, reaching $16.5 billion by FY 2021-22.

Prior reports / references: (1) 2013 IFO analysis of HB / SB 76 and (2) 2014 update of the school property tax forecast.

Full Report

December 2016

January 03, 2017 | Monthly Trends Reports

The Commonwealth collected $2.62 billion in General Fund revenues for December, a decrease of $106.6 million (-3.9%) compared to December 2015. Fiscal year-to-date revenues were $13.45 billion, an increase of $54.2 million (0.4%) from the prior year.

Full Report

November 2016

December 01, 2016 | Monthly Trends Reports

The Commonwealth collected $1.99 billion in General Fund revenues for November, an increase of $179.2 million (9.9%) compared to November 2015. Fiscal year-to-date revenues were $10.84 billion, an increase of $160.9 million (1.5%) from the prior year.

Full Report

Natural Gas Production Report, 2016 Quarter 3

November 30, 2016 | Natural Gas Reports

This report for the third quarter of 2016 and the calendar year-to-date uses data collected by the PA Department of Environmental Protection to develop statewide and county-level tabulations of production volume and well counts.

Full Report

Five Year Economic and Budget Outlook

November 15, 2016 | Revenue Estimates

This report examines the demographic, economic, revenue and expenditure trends that will affect the Commonwealth’s fiscal condition through fiscal year (FY) 2021-22. Based on the economic and demographic assumptions used by this report, the evaluation finds that various factors imply a long-term fiscal imbalance.

Press Release

IFO Presentation

Don Boyd's Presentation on Public Pension Risk

Full Report

October 2016

November 01, 2016 | Monthly Trends Reports

The Commonwealth collected $2.23 billion in General Fund revenues for October, an increase of $102.9 million (4.8%) compared to October 2015.

Fiscal year-to-date revenues were $8.85 billion, a decrease of $18.4 million (-0.2%) from the prior year.

Full Report

Quarterly Revenue Review

October 27, 2016 | Revenue Estimates

The IFO produces this report to facilitate comparison of its quarterly revenue estimates with actual revenue collections. The report also provides context for the variances between estimates and actual collections. 

Fiscal Year 2016-17

2016 Q3 (July to September 2016)

Full Report

September 2016

October 03, 2016 | Monthly Trends Reports

The Commonwealth collected $2.63 billion in General Fund revenues for September, a decrease of $106.5 million (-3.9%) compared to September 2015.

Fiscal year-to-date revenues were $6.61 billion, a decrease of $121.2 million (-1.8%) from the prior year.

Full Report