IFO Releases
2024 Demographic Outlook
October 24, 2024 | Economics and Other
Section 604-B (a)(2) of the Administrative Code of 1929 specifies that the Independent Fiscal Office (IFO) shall “provide an assessment of the state’s current fiscal condition and a projection of what the fiscal condition will be during the next five years. The assessment shall take into account the state of the economy, demographics, revenues and expenditures.” This report fulfills the demographics obligation of this statute. The IFO will release the Economic and Budget Outlook for Fiscal Years 2024-25 to 2029-30 in November 2024.
How Did School Districts Use COVID Funds?
October 22, 2024 | Economics and Other
This research brief uses data from the Pennsylvania Department of Education to examine how school districts used $6.0 billion of temporary COVID-19 funds.
Economic and Property Tax Update
October 08, 2024 | Property Tax
Fiscal Analyst Jesse Bushman presented an update on the Pennsylvania economy and a new projection of the Act 1 Index to the Pennsylvania Association of School Business Officials.
iGaming Drives Property Tax Relief to New High
October 02, 2024 | Property Tax
This research brief uses data from the Pennsylvania Department of Education and Pennsylvania Gaming Control Board to examine the recent increase in Act 1 property tax relief due to gaming expansion.
September 2024 Revenue Update
October 01, 2024 | Revenue & Economic Update
The Commonwealth collected $4.16 billion in General Fund revenues for September, an increase of $105 million (+2.6%) compared to September 2023.