IFO Releases

State Rainy Day and General Fund Balances

March 24, 2023 | Economics and Other

The IFO posted a new research brief that uses published data from The Pew Charitable Trusts to rank states based on the ratio of (1) Rainy Day Fund balances and (2) Total Balances (Rainy Day plus General Fund) to General Fund expenditures for enacted FY 2022-23 budgets.

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March 2023 Monthly Economic Update

March 21, 2023 | Revenue & Economic Update

The March edition of our Monthly Economic Update includes links to recent articles and reports that provide insight into state or national economic, demographic and fiscal trends.

Tags: economic, monthly, update

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Budget Hearing Materials 2023

March 16, 2023 | Economics and Other

The Independent Fiscal Office submitted materials to the Senate Appropriations Committee ahead of its budget hearing. The packet includes data on the state economy, revenues, demographics and other miscellaneous topics.

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Economic and Act 1 Index Update

March 16, 2023 | Economics and Other

Director Knittel gave an Economic and Act 1 Index update at the Pennsylvania Association of School Business Officials (PASBO) Annual Conference.

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Economic Update

March 13, 2023 | Economics and Other

Director Knittel provided an economic update to the PA Chamber of Business and Industry.

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Emergency Rental Assistance Ends

March 06, 2023 | Economics and Other

The IFO posted a third research brief that examines the end or phase-out of various programs tied to the federal public health emergency that will impact the state economy. The brief examines trends in eviction filings since the onset of the pandemic and the use of $1.6 billion in funds received for the Emergency Rental Assistance Program throughout the state.

Tags: assistance, brief, rental, research

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Natural Gas Production Report, 2022Q4

March 02, 2023 | Energy

This report for the fourth quarter of 2022 uses data collected by the PA Department of Environmental Protection to develop statewide and county-level tabulations of production volume and well counts. 

Tags: gas, natural, production

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Summary and Analysis of Annual PSERS Stress Test Report

March 01, 2023 | Pension Analysis

Pursuant to Act 128 of 2020, the IFO issued a report that summarizes results from the Public School Employees Retirement System’s (PSERS) recent stress test report. Based on PSERS baseline projections, the IFO projects that from FY 2023-24 to FY 2050-51, the Commonwealth will use $46.5 billion in General Fund revenues (2.3%) for the state’s share of public school employer pension contributions. Relative to baseline projections, the report also summarizes the impact from scenarios that allow investment performance to exceed and fall short of baseline assumptions.

Tags: analysis, pension, psers

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February 2023 Revenue Update

March 01, 2023 | Revenue & Economic Update

The Commonwealth collected $2.83 billion in General Fund revenues for February, an increase of $393.5 million (16.2%) compared to February 2022.

Tags: estimates, monthly, revenue

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Pennsylvania Electricity Update

March 01, 2023 | Energy

The IFO posted a research brief that provides an overview of the Pennsylvania electricity market. For 2022, PA remains the top exporter of electricity across all states. The next largest state (AL) exported 40% less electricity.

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