Releases

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

IFO Releases

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.

Press Release

Full Report

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.

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

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

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. 

Full Report

Revenue Estimate Performance

August 12, 2016 | Revenue Estimates

Examination of the performance of IFO revenue estimates for the past four budget cycles (August 2016).

Full Report

FY 2016-17 Official Revenue Estimate

June 15, 2016 | Revenue Estimates

FY 2016-17 official estimate and FY 2015-16 estimate revision (June 2016).

Full Report

Analysis of Revenue Proposals in the FY 2016-17 Executive Budget

April 21, 2016 | Revenue Estimates

This report provides revenue estimates for the tax proposals contained in the 2016-17 Executive Budget released February 2016. 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.” 

Full Report

Five-Year Economic and Budget Outlook: FY 2015-16 to 2020-21

January 27, 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) 2020-21. Based on the economic and demographic assumptions used by this report, the evaluation finds that various factors imply a long-term fiscal imbalance. (Updated January 2016)

Full Report