Releases

Revenue Estimates

IFO Releases

Demographic Outlook

September 08, 2020 | Revenue Estimates

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 in advance of the IFO’s release of the Economic and Budget Outlook for Fiscal Year 2020-21 to 2025-26. In prior years, the information contained in this report was presented as an individual section within the IFO’s Five-Year Economic and Budget Outlook.

Tags: demographics

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Revenue Estimate Performance

September 03, 2020 | Revenue Estimates

This report examines the performance of IFO revenue estimates for the past eight budget cycles.

Tags: estimates, performance, revenue

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Monthly and Quarterly Revenue Estimates

August 27, 2020 | Revenue Estimates

This report provides revenue distributions based on the FY 2020-21 projections contained in the Official Revenue Estimate published by the IFO on June 22, 2020. They reflect the statutory changes that were enacted with the FY 2020-21 state budget.

Tags: estimates, monthly, quarterly, revenue

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August 2020 Economic and Revenue Update

August 19, 2020 | Revenue Estimates

Director Matthew Knittel provided a brief economic and revenue update to members of the Senate Appropriations Committee (Democrat).

Tags: economic, revenue

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Official Revenue Estimate FY 2020-21

June 22, 2020 | Revenue Estimates

This report provides revised revenue estimates for FY 2019-20 and official estimates for FY 2020-21 related to the General Fund, Motor License Fund, Lottery Fund and federal funds subject to appropriation. 

Presentation

Methodology

Tags: estimates, revenue

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Initial Revenue Estimate FY 2020-21

May 26, 2020 | Revenue Estimates

The initial revenue estimate for FY 2020-21 and updated estimates for FY 2019-20 are included. 

Tags: estimates, revenue

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Initial Revenue Estimate FY 2020-21 Presentation

May 26, 2020 | Revenue Estimates

Director Matthew Knittel made a presentation on the initial revenue estimate for FY 2020-21 and updated estimates for FY 2019-20.

Tags: estimates, presentation, revenue

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IFO Public Briefing: Initial Revenue Estimate FY 2020-21

May 19, 2020 | Revenue Estimates

The Independent Fiscal Office will release an updated revenue estimate for FY 2019-20 and an initial revenue estimate for FY 2020-21. The briefing is open to the public and submitted questions will be addressed at the end of the presentation. The report will also be posted to the IFO website when the presentation concludes. Click on the link for details on how to register.

 

Tags: estimates, presentation, revenue

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Analysis of Revenue Proposals in the 2020-21 Executive Budget

April 23, 2020 | Revenue Estimates

This report provides estimates for the revenue proposals contained in the 2020-21 Executive Budget released February 2020. 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.”

Tags: estimates, revenue

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Projected Revenue Impact of COVID-19

April 08, 2020 | Revenue Estimates

The IFO released an updated revenue projection for FY 2019-20 and a preliminary projection for FY 2020-21 using two scenarios for business closures due to the COVID-19 virus. The release also discusses the impact on economic growth rates and federal stimulus monies that are projected to flow into the state economy.

Tags: estimates, revenue

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