IFO Releases
Analysis of Revenue Proposals
March 28, 2024 | Revenue Estimates
This report provides estimates for the revenue proposals contained in the 2024-25 Governor's Executive Budget released February 2024. The Independent Fiscal Office (IFO) publishes this report to fulfill its statutory duties as provided under Section 604-B (a)(4) of the Administrative Code of 1929. The act requires that the IFO “provide an analysis, including economic impact, of all tax and revenue proposals submitted by the Governor or the Office of the Budget."
Mid-Year Update FY 2023-24
January 30, 2024 | Revenue Estimates
The Independent Fiscal Office (IFO) released a mid-year update of its revenue estimate for fiscal year (FY) 2023-24 and provided an advance look at revenue projections for the next fiscal year. The IFO will update the estimate in its next round of revenue projections released in late May.
Revised Monthly Revenue Estimates
January 29, 2024 | Revenue Estimates
This report provides revised monthly General Fund revenue estimates for FY 2023-24 based on projections contained in the Official Revenue Estimate published by the IFO on June 20, 2023 (includes adjustments released with the original monthly estimates in August 2023) adjusted to reflect the impact of statutory changes that were enacted in conjunction with the remainder of the state budget in December 2023.
Five-Year Economic and Budget Outlook
November 15, 2023 | Revenue Estimates
The Independent Fiscal Office (IFO) released its five-year Economic and Budget Outlook. Click the hyperlink above to view the report and presentations.
Economic and Budget Outlook
November 08, 2023 | Revenue Estimates
The IFO will release its long-term budget outlook for FY 2023-24 to FY 2028-29 on November 15 at 1:30 pm. Long-term issues that impact the outlook include the expiration of federal relief programs, a rapidly expanding 75+ age cohort and the depletion of surplus balances that currently generate significant interest income. See the announcement for a link to register for the presentation.
Tags: budget, economic, outlook, presentation
Monthly and Quarterly Revenue Estimates
August 30, 2023 | Revenue Estimates
This report provides revenue distributions based on the FY 2023-24 projections contained in the Official Revenue Estimate published by the IFO on June 20, 2023.
Revenue Estimate Performance
August 10, 2023 | Revenue Estimates
This report examines the performance of IFO revenue estimates for the past eleven budget cycles.
Tags: estimate, performance, revenue
Official Revenue Estimate FY 2023-24
June 20, 2023 | Revenue Estimates
The Independent Fiscal Office (IFO) released its official revenue estimate for FY 2023-24. Updated estimates for FY 2022-23 are included.
Initial Revenue Estimate FY 2023-24
May 24, 2023 | Revenue Estimates
The IFO released its initial revenue estimate for FY 2023-24. Click the hyperlink above to view the report and presentation.
Initial Revenue Estimate Announcement
May 17, 2023 | Revenue Estimates
The IFO will release its Initial Revenue Estimate on Wednesday, May 24th at 1:30 PM. The report will contain revisions to the FY 2022-23 estimate and an initial estimate for FY 2023-24. See the announcement for a link to register for the presentation.