IFO Releases
Official Revenue Estimate FY 2017-18
June 15, 2017 | Revenue Estimates
FY 2017-18 official estimate and FY 2016-17 estimate revision (June 2017).
Quarterly Revenue Review 2017 Q1
May 05, 2017 | 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.
Initial Revenue Estimate FY 2017-18
May 02, 2017 | Revenue Estimates
The initial revenue estimate for FY 2017-18 and updated estimates for FY 2016-17.
Analysis of Revenue Proposals in the 2017-18 Executive Budget
April 05, 2017 | Revenue Estimates
This report provides revenue estimates for the tax proposals contained in the 2017-18 Executive Budget released February 2017. The Independent Fiscal Office (IFO) publishes this report to fulfill its statutory duties as provided under 71 Pa.C.S. § 4104. 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.”
Note: A clarifying sentence was added to page 16 since the original publication. (Revised on April 7, 2017)
Mid-Year Update FY2016-17
January 25, 2017 | Revenue Estimates
The Independent Fiscal Office (IFO) has released a mid-year update of its revenue estimate for fiscal year (FY) 2016-17. The revised estimate is $32.060 billion, which is $250 million lower than the IFO’s November 2016 estimate and $450 million lower than the estimate published by the IFO at the beginning of the fiscal year. As part of the mid-year update, the IFO also provides an advance look at revenue projections for the next fiscal year. For FY 2017-18, revenues are projected to be $32.637 billion, an increase of 1.8 percent over the current year. The office will update the estimate in its next round of revenue projections to be released in early May.
Quarterly Revenue Review 2016-Q4
January 24, 2017 | 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.
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.
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)
Quarterly Revenue Estimates
August 24, 2016 | Revenue Estimates
This report provides quarterly revenue estimates for the General Fund, Motor License Fund and Lottery Fund. The quarterly estimates are based on: (1) the FY 2016-17 projections contained in the Official Revenue Estimate published by the Independent Fiscal Office on June 15, 2016 and (2) adjustments to reflect the impact of statutory changes that were enacted with the state budget.
Revenue Estimate Performance
August 12, 2016 | Revenue Estimates
Examination of the performance of IFO revenue estimates for the past four budget cycles (August 2016).