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.
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.
Director Knittel gave an Economic and Act 1 Index update at the Pennsylvania Association of School Business Officials (PASBO) Annual Conference.
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.
Director Knittel provided an economic update to the PA Chamber of Business and Industry.
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
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
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.
The Commonwealth collected $2.83 billion in General Fund revenues for February, an increase of $393.5 million (16.2%) compared to February 2022.
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.