IFO Releases
Act 1 Index Reaches New High
November 28, 2023 | Property Tax
The Act 1 index limits the annual increase in school district millage rates. For FY 24-25, PDE recently certified an all-time high value (5.3%). This report examines the factors that drive that outcome and provides projections through FY 28-29.
Five-Year Economic and Budget Outlook
November 15, 2023 | Revenue Estimates
The Independent Fiscal Office (IFO) released its five-year Economic and Budget Outlook. Click the hyperlink above to view the report and presentations.
PLEA Wage Contract Analysis
November 09, 2023 | Wage Contracts
This letter provides a fiscal impact analysis of the collective bargaining agreement between the Commonwealth of Pennsylvania and the Pennsylvania Liquor Enforcement Association (PLEA).
Economic and Budget Outlook
November 08, 2023 | Revenue Estimates
The IFO will release its long-term budget outlook for FY 2023-24 to FY 2028-29 on November 15 at 1:30 pm. Long-term issues that impact the outlook include the expiration of federal relief programs, a rapidly expanding 75+ age cohort and the depletion of surplus balances that currently generate significant interest income. See the announcement for a link to register for the presentation.
Tags: budget, economic, outlook, presentation
October 2023 Revenue Update
November 01, 2023 | Revenue & Economic Update
The Commonwealth collected $3.25 billion in General Fund revenues for October, an increase of $121.4 million (3.9%) compared to October 2022.
CIVEA Wage Contract Analysis
October 26, 2023 | Wage Contracts
This letter provides a fiscal impact analysis of the collective bargaining agreement between the Commonwealth of Pennsylvania and the Correctional Institution Vocational Education Association (CIVEA).
Pennsylvania's Strained Nursing Homes
October 25, 2023 | Economics and Other
The IFO posted a new research brief that discusses placement waitlists and potential cost implications from the contraction in nursing home capacity since 2019.
UFWC Wage Contract Analysis
October 25, 2023 | Wage Contracts
This letter provides a fiscal impact analysis of the collective bargaining agreement between the Commonwealth of Pennsylvania and the United Food and Commercial Workers (UFCW).
October 2023 Monthly Economic Update
October 23, 2023 | Revenue & Economic Update
The Monthly Economic Update provides data and insight on current trends that impact the state economy.
2023 Demographic Outlook
October 19, 2023 | 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 2023-24 to 2028-29 in November 2023.
Tags: demographics, outlook