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Pennsylvania Electricity Update

The IFO released a research brief that provides a general overview of the Pennsylvania electricity market. Recent EIA data show that Pennsylvania remains the largest net exporter of electricity in the country.

Tags: electricity, energy, gas

Natural Gas Production Report, 2021Q2

This report for the second quarter of 2021 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, production

Impact Fee Update and Outlook 2021

This update examines 2020 impact fee collections and provides an outlook for 2021. The Commonwealth collected $146.3 million in impact fees for 2020, a $54.1 million decrease from 2019 and the lowest amount since the fee's inception.

Tags: gas

Natural Gas Production Report, 2021Q1

This report for the first quarter of 2021 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, production

Budget and Economic Update Presentation

Deputy Director Brenda Warburton and Revenue Analyst Jesse Bushman gave a presentation to the Marcellus Shale Coalition regarding the Commonwealth’s economic and budget outlook and recent natural gas trends.

Tags: budget, economic, employment, gas, presentation

Natural Gas Production Report, 2020Q4

This report for the fourth quarter of 2020 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, production

2020 Impact Fee Estimate

This report uses recent data published by the Department of Environmental Protection to project CY 2020 Impact Fee collections (remitted April 2021). Collections are estimated to be $144.9 million, a decrease of $55.9 million from the prior year.

Tags: collections, gas

Natural Gas Production Report, 2020Q3

This report for the third quarter of 2020 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, production

Natural Gas Production Report, 2020Q2

This report for the second quarter of 2020 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, production

Pennsylvania Impact Fee and Natural Gas Trends Presentation

Revenue Analyst Jesse Bushman made a presentation to the Center for Energy Policy and Management at Washington & Jefferson College regarding regional natural gas trends and how they are affecting the state's Impact Fee.

Tags: gas, presentation

Impact Fee Update and 2020 Outlook

This report examines impact fee collections for 2019 and provides an outlook for 2020.

Tags: gas

Natural Gas Production Report, 2020Q1

This report for the first quarter of 2020 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, production

Natural Gas Production Report, 2019Q4

This report for the fourth quarter of 2019 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 gas Production Report, 2021Q2

This report for the second quarter of 2021 uses data collected by the PA Department of Environmental Protection to develop statewide and county-level tabulations of production volume and well counts.

08/24/2021

Natural gas Production Report, 2021Q1

This report for the first quarter of 2021 uses data collected by the PA Department of Environmental Protection to develop statewide and county-level tabulations of production volume and well counts.

05/24/2021

Budget and Economic Update Presentation

Deputy Director Brenda Warburton and Revenue Analyst Jesse Bushman gave a presentation to the Marcellus Shale Coalition regarding the Commonwealth’s economic and budget outlook and recent natural gas trends.

03/31/2021

Natural gas Production Report, 2020Q4

This report for the fourth quarter of 2020 uses data collected by the PA Department of Environmental Protection to develop statewide and county-level tabulations of production volume and well counts. 

03/02/2021

Natural gas Production Report, 2020Q3

This report for the third quarter of 2020 uses data collected by the PA Department of Environmental Protection to develop statewide and county-level tabulations of production volume and well counts. 

11/24/2020

Natural gas Production Report, 2020Q2

This report for the second quarter of 2020 uses data collected by the PA Department of Environmental Protection to develop statewide and county-level tabulations of production volume and well counts.

08/20/2020

Pennsylvania Impact Fee and Natural gas Trends Presentation

Revenue Analyst Jesse Bushman made a presentation to the Center for Energy Policy and Management at Washington & Jefferson College regarding regional natural gas trends and how they are affecting the state's Impact Fee.

07/14/2020

Natural gas Production Report, 2020Q1

This report for the first quarter of 2020 uses data collected by the PA Department of Environmental Protection to develop statewide and county-level tabulations of production volume and well counts. 

05/21/2020

Natural gas Production Report, 2019Q4

This report for the fourth quarter of 2019 uses data collected by the PA Department of Environmental Protection to develop statewide and county-level tabulations of production volume and well counts.

02/26/2020

Natural gas Production Report, 2019Q3

This report for the third quarter of 2019 uses data collected by the PA Department of Environmental Protection to develop statewide and county-level tabulations of production volume and well counts.

12/03/2019

Natural gas Royalties Increase in 2017

This research brief uses state personal income tax data to estimate natural gas royalties paid to landowners in 2017. The data suggest that royalties paid increased significantly from the prior year due to increased production and higher prices.

09/20/2019

Natural gas Production Report, 2019Q2

This report for the second quarter of 2019 uses data collected by the PA Department of Environmental Protection to develop statewide and county-level tabulations of production volume and well counts. 

08/21/2019

Natural gas Production Report, 2019Q1

This report for the first quarter of 2019 uses data collected by the PA Department of Environmental Protection to develop statewide and county-level tabulations of production volume and well counts.

05/30/2019

NATURAL gas PRODUCTION REPORT, 2018 Q4

This report for the fourth quarter of 2018 uses data collected by the PA Department of Environmental Protection to develop statewide and county-level tabulations of production volume and well counts.

03/05/2019

Natural gas Production Report, 2018 Q3

This report for the third quarter of 2018 uses data collected by the PA Department of Environmental Protection to develop statewide and county-level tabulations of production volume and well counts.

12/04/2018

NATURAL gas PRODUCTION REPORT, 2018Q2

This report for the second quarter of 2018 uses data collected by the PA Department of Environmental Protection to develop statewide and county-level tabulations of production volume and well counts.

08/30/2018

Impact Fee Update and 2018 Outlook

This report examines 2017 impact fee collections and natural gas production in Pennsylvania. It also provides an outlook for 2018.

06/28/2018

NATURAL gas PRODUCTION REPORT, 2018Q1

This report for the first quarter of 2018 uses data collected by the PA Department of Environmental Protection to develop statewide and county-level tabulations of production volume and well counts.

05/31/2018

Pennsylvania Natural gas Royalties

The IFO responds to a request regarding natural gas royalty payments in Pennsylvania. Based on draft statutory language provided by the Administration regarding the deductibility of the proposed severance tax from royalty payments, footnote 7 was added to the original letter. (March 23, 2018)

03/23/2018

Natural gas Production Report, 2017Q4

This report for the fourth quarter of 2017 and the calendar year uses data collected by the PA Department of Environmental Protection to develop statewide and county-level tabulations of production volume and well counts.

03/05/2018

Budget Hearings Packet for Appropriations Committees

The Independent Fiscal Office submitted material to the House and Senate Appropriations Committees in advance of its scheduled budget hearings on Tuesday, February 20.  The hearings packet contains a brief background on the Independent Fiscal Office and its responsibilities, along with a list of the reports and analyses published since January 2017. It also provides data regarding the economic and revenue outlook, demographics, pensions, and natural gas. Testimony Supplemental Table

02/16/2018

Natural gas Production Report, 2017 Q3

This report for the third quarter of 2017 and the calendar year uses data collected by the PA Department of Environmental Protection to develop statewide and county-level tabulations of production volume and well counts.

12/07/2017

Natural gas Production Report, 2017 Q2

This report for the second quarter of 2017 and the calendar year uses data collected by the PA Department of Environmental Protection to develop statewide and county-level tabulations of production volume and well counts.

08/29/2017

Impact Fee Update and 2017 Outlook

This research brief examines 2016 impact fee collections and natural gas production in Pennsylvania. It also provides an outlook for 2017. 

07/04/2017

Natural gas Production Report, 2017 Q1

This report for the first quarter of 2017 and the calendar year uses data collected by the PA Department of Environmental Protection to develop statewide and county-level tabulations of production volume and well counts.

05/22/2017

Natural gas Production Report, 2016 Quarter 4

This report for the fourth quarter of 2016 and the calendar year uses data collected by the PA Department of Environmental Protection to develop statewide and county-level tabulations of production volume and well counts.

03/02/2017

Budget Hearing Packet for Appropriations Committees

The IFO has compiled information for the House and Senate Appropriations Committees in advance of its scheduled testimony on Tuesday, February 21.  The hearing packet contains a brief background on the Independent Fiscal Office and its responsibilities, along with a list of the reports and analyses published since January 2016. It also provides data regarding the economic and revenue outlook, demographics, pensions, and natural gas.    Download a version for optimized web viewing

02/16/2017

Natural gas Production Report, 2016 Quarter 3

This report for the third quarter of 2016 and the calendar year-to-date uses data collected by the PA Department of Environmental Protection to develop statewide and county-level tabulations of production volume and well counts.

11/30/2016

Natural gas Production Report, 2016 Quarter 2

This report for the second quarter of 2016 and the calendar year-to-date uses data collected by the PA Department of Environmental Protection to develop statewide and county-level tabulations of production volume and well counts.

08/26/2016

Impact Fee Update and 2016 Outlook

This research brief examines 2015 impact fee collections and natural gas production in Pennsylvania. It also provides an outlook for 2016. 

07/14/2016

Natural gas Production Report, 2016 Quarter 1

This report for the first quarter of 2016 uses data collected by the PA Department of Environmental Protection to develop statewide and county-level tabulations of production volume and well counts.

05/26/2016

Natural gas Production Report, 2015 July to December

This report for the second half of 2015 and the calendar year-to-date uses data collected by the PA Department of Environmental Protection to develop statewide and county-level tabulations of production volume and well counts.

02/29/2016

Glossary of Natural gas Terminology

Glossary of technical terms to supplement the Natural gas Production Report for the first half of 2015.

09/15/2015

Natural gas Production Report, 2015 January to June

This report for the first half of 2015 uses data collected by the PA Department of Environmental Protection to develop statewide and county-level tabulations of production volume and well counts.

09/15/2015

Impact Fee Update and 2015 Outlook

This research brief analyzes calendar year (CY) 2014 impact fee revenues (remitted April 2015) reported by the Pennsylvania Public Utility Commission (PUC) and potential scenarios for CY 2015. The research brief also translates the impact fee into an annual average effective tax rate (ETR) based on natural gas price and production data. The ETR is a metric that quantifies the implicit tax burden imposed by the impact fee in a given year.

06/25/2015

Impact Fee Update - February 2015

This research brief estimates the calendar year 2014 impact fee revenues (to be remitted in April 2015) using data from the Department of Environmental Protection (DEP) and the Public Utility Commission (PUC). The research brief also translates the impact fee into an annual average effective tax rate (ETR) based on recent natural gas price and production data. The ETR is a metric that quantifies the implicit tax burden imposed by the impact fee in a given year.

02/27/2015

Natural gas Extraction: An Interstate Tax Comparison

This report compares Pennsylvania's unique natural gas tax structure to other states. The report also considers other taxes that may be levied on natural gas producers such as real and personal property, corporate and personal income, sales and use and miscellaneous fees. Due to the complexity of the analysis, readers are encouraged to thoroughly review the methodology and assumptions contained in Section 1 of this report. Full report Analysis-in-Brief (2 pages) Background on effective tax rates (2 pages, updated 4/4/2014 for the 2013 reporting year impact fee collections)

03/17/2014

PBB_2020_DEP_Report.pdf

Chesapeake Bay ................................................................................................ 13 Activity 5: Water Resource Planning ................................................................................... 17 Activity 6: Vector Management ........................................................................................... 19 Activity 7: Oil and Gas Management ................................................................................... 21 Activity 8: Air Quality ......................................................................................................... 25 Activity 9: Radiation Protection ........................................................................................... 29 Activity 10: Waste Management ......................................................................................... 31 Activity 11: Environmental Cleanup and of statewide waters 6 Vector Management……………………………………... Protect citizens from black flies and West Nile Virus 7 Oil and Gas Management……………………………... Manage statewide oil and gas environmental programs 8 Air Quality………………………………………………………. Monitor air quality to meet environmental standards 9 Radiation Protection……………………………………… Minimize

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Single-Use Plastics Report-2020_06.pdf

He is the primary analyst responsible for all reports and analyses related to local property taxes and natural gas. Other responsibilities include forecasting revenues for gross receipts and inheritance taxes and performance-based budgeting for agencies such as the Department of Retail Bag Manufacturing Employment and Production ..................................................................... 31 Manufacturer Response to Regulations ........................................................................................... 32 Petrochemical and Plastics Manufacturing from Natural Gas ............................................................. 33 Section 6: Net Economic Impacts ........................................................................................... 37 Consumption and Spending on Retail Bags...................................................................................... 37 Impact on Employment and Earnings ............................................................................................. 39 Treatment of

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2006_surviving_spouse_healthcare_study.pdf

000 2014 89,300,000 96,000,000 2015 $101,000,000 $109,600,000 New Governmental Accounting Standards Board (GASB) Accounting Standards In 2004, the GASB issued new accounting standards for public employers and public employee benefit plans regarding postemployment benefits, such as retiree health insurance

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Revenue-Proposal-Analysis-2018-04.pdf

left blank. - Table of Contents Introduction ................................................................................................................ 1 Tax and Revenue Proposals ......................................................................................... 3 Corporate Net Income Tax ........................................................................................ 3 Natural Gas Severance Tax ....................................................................................... 7 Raising the Minimum Wage ....................................................................................... 15 Minimum Wage Across States ................................................................................. 16 Workers Directly Affected by a Higher Minimum Wage ........................................... 19 proposes changes to the corporate net income tax and a new tax levy on the severance of natural gas. By fiscal year (FY) 2022-23, the analysis projects that the proposals would increase General Fund tax revenues by $305 million. New

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Impact-Fee-Update-2017-Outlook-2017-07.pdf

July 2017 Impact Fee Update and 2017 Outlook Pennsylvania imposes an annual impact fee on unconventional (i.e., shale) natural gas wells that were drilled or operating in the previous calendar year. 1 Proceeds from the impact fee are distributed to governments receive funds based on the number of wells located within their boundaries or their proximity to jurisdictions where natural gas extraction took place. Distributions for the last four calendar years are shown in Table 1. The annual impact fee for

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Budget_Hearing_Background_Feb2016.pdf

following:  A decline in General Fund support from special funds, such as the Lottery Fund and the Oil and Gas Lease Fund.  Service populations that expand at a faster pace than the labor force that supports the tax base detail regarding impact fee revenues including the number of wells subject to the fee and their vintage.  Quarterly Natural Gas Production Report. Provides unconventional production volumes and well counts on a quarterly basis. Top producing counties also listed.  Quarterly

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RB 2019 Natural Gas Royalties.pdf

Natural gas royalties are an important source of income for many Pennsylvania landowners. Firms pay royalties based on the revenues received from the sale of natural gas extracted from wells located on a landowner’s property. Pennsylvania law mandates a minimum royalty rate of 12.5 percent

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Impact_Fee_Update_Outlook_2021.pdf

Independent Fiscal Office | June 2021 Pennsylvania imposes an annual impact fee on unconventional (i.e., shale) natural gas wells that were drilled or operating in the previous calendar year. 1 Proceeds from the impact fee are distributed to governments receive funds based on the number of wells located within their boundaries or their proximity to jurisdictions where natural gas extraction took place. Distributions for the last four calendar years are shown in Table 1. The annual impact fee for

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Impact-Fee-Update-Outlook-2019-06.pdf

2019 1 Impact Fee Update and 2019 Outlook Pennsylvania imposes an annual impact fee on unconventional (i.e., shale) natural gas wells that were drilled or operating in the previous calendar year. 1 Proceeds from the impact fee are distributed to governments receive funds based on the number of wells located within their boundaries or their proximity to jurisdictions where natural gas extraction took place. Distributions for the last four calendar years are shown in Table 1. The annual impact fee for

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Impact-Fee-Update-2018-Outlook-2018-06.pdf

2018 1 Impact Fee Update and 2018 Outlook Pennsylvania imposes an annual impact fee on unconventional (i.e., shale) natural gas wells that were drilled or operating in the previous calendar year. 1 Proceeds from the impact fee are distributed to governments receive funds based on the number of wells located within their boundaries or their proximity to jurisdictions where natural gas extraction took place. Distributions for the last four calendar years are shown in Table 1. The annual impact fee for

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2013-06 Monthly Economic Summary - FINAL.pdf

Sales Year-over-year growth rate of retail sales based on lat- est three months of data. Includes purchases of gas and motor vehicles. 3 Residential Home Sales Year-over-year growth rate in residential home sales based on latest three relative health of the manufacturing sector. An index greater than 50 indi- cates that the sector is expanding. 6 Average Gas Price National average price for one gallon of unleaded gas- oline. 7 S&P 500 Index An index based on

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Impact-Fee-Update-Outlook-2020.pdf

Introduction Pennsylvania imposes an annual impact fee on unconventional (i.e., shale) natural gas wells that were drilled or operating in the previous calendar year. 1 Proceeds from the impact fee are distributed to governments receive funds based on the number of wells located within their boundaries or their proximity to jurisdictions where natural gas extraction took place. Distributions for the last four calendar years are shown in Table 1. The annual impact fee for

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Impact-Fee-Estimate-2019.pdf

Office January 2020 1 2019 Impact Fee Estimate Pennsylvania imposes an annual impact fee on unconventional (i.e., shale) natural gas wells that were drilled or operating in the previous calendar year. 1 Proceeds from the impact fee are distributed to governments receive funds based on the number of wells located within their boundaries or their proximity to jurisdictions where natural gas extraction took place. The annual impact fee for an unconventional natural gas well is determined according to a bracketed schedule

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IFO_Hearing_Packet_Feb2018.pdf

State Comparison ‐ Tax Burdens 15 Simulation: Impact of Federal Tax Reform 16 Pennsylvania Federal Income Tax Data (2015) 17 Natural Gas Trends Production, Price and Impact Fee Trends 18 Historical Spot Prices 19 Impact Fee Research Brief 20 PSERS and SERS detail regarding impact fee revenues, including the number of wells subject to the fee and their vintage.  Quarterly Natural Gas Production Report. Provides unconventional production volumes and well counts on a quarterly basis. Top producing counties also listed. Published Reports

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NGPR-2016Q4.pdf

The Pennsylvania Department of Environmental Protection (DEP) publishes monthly production data submitted by natural gas extractors that operate in the state. Unless otherwise noted, this report uses those data, in conjunction with DEP data on quarter of 2016 and the calendar year. These data are current as of February 22, 2017 and pertain only to gas produced from unconventional formations, which include the Marcellus and Utica formations. The final page provides definitions of the technical terms

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Independent Fiscal Office

Independent Fiscal Office IFO • Latest Releases • Data • Calendar • Right-to-Know • About • About IFO • Contact IFO • Email Subscription • Links • Follow on Twitter • • Independent Fiscal Office Revenue Estimates Revenue & Economic Update Performance Budgeting Natural Gas Pension Analysis Property Tax Wage Contracts Tax Credit Review News Stand & Other Featured Releases September 2021 Economic Update Revenue & Economic labor market continued to improve in July as pandemic-related job losses declined from the prior month. ... (Full Report) Natural Gas Production Report, 2021Q2 Natural Gas August 24, 2021 This report for the second quarter of 2021 uses data collected by

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2020_Impact_Fee_Estimate.pdf

Introduction Pennsylvania imposes an annual impact fee on unconventional (i.e., shale) natural gas wells that were drilled or operating in the previous calendar year. 1 Proceeds from the impact fee are distributed to governments receive funds based on the number of wells located within their boundaries or their proximity to jurisdictions where natural gas extraction took place. Distributions for the last four calendar years are shown in Table 1. (2020 is an estimate.) The

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NGPR-2016Q3.pdf

The Pennsylvania Department of Environmental Protection (DEP) publishes monthly production data submitted by natural gas extractors that operate in the state. Unless otherwise noted, this report uses those data, in conjunction with DEP data on 2016 and the calendar year-to-date. These data are current as of November 21, 2016 and pertain only to gas produced from unconventional formations, which include the Marcellus and Utica formations. The final page provides definitions of the technical terms

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NGPR-2016Q1.pdf

The Pennsylvania Department of Environmental Protection (DEP) publishes monthly production data submitted by natural gas extractors that operate in the state. Except as otherwise noted, this report uses those data, in conjunction with DEP data 2016 and the calendar year-to-date. These data are current as of May 20, 2016 and pertain only to gas produced from unconventional formations, which include the Marcellus and Utica formations. The final page provides definitions of the technical terms

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2013-10 Monthly Economic Summary.pdf

Sales Year-over-year growth rate of retail sales based on lat- est three months of data. Includes purchases of gas and motor vehicles. 3 Residential Home Sales Year-over-year growth rate in residential home sales based on latest three relative health of the manufacturing sector. An index greater than 50 indi- cates that the sector is expanding. 6 Average Gas Price National average price for one gallon of unleaded gas- oline. 7 S&P 500 Index An index based on

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NGPR-2015-2H.pdf

The Pennsylvania Department of Environmental Protection publishes monthly production data submitted by natural gas extractors that operate in the state. This report uses those data to develop statewide and county-level tabulations of production the last six months of 2015 and the full calendar year. The data summarized in this report pertain exclusively to gas produced from unconventional formations, which include the Marcellus and Utica formations. Natural Gas Production Report July to December Calendar Year

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NGIFE-2015.pdf

Impact Fee Update In June 2015, the Independent Fiscal Of Ðice (IFO) issued Research Brief 2015‐3, which reported unconventional gas well impact fee collections for calendar year (CY) 2014 along with three potential scenarios for CY 2015 collections (to be The research brief also translates the impact fee into an annual average effective tax rate (ETR) based on recent natural gas price and production data. The ETR is a metric that quanti Ðies the implicit tax burden imposed by the impact

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Economic_and_Revenue_Update_2020.pdf

included wide-ranging discussions regarding Pennsylvania’s economic outlook, labor market, revenue collections, demographics, long-term fiscal outlook and natural gas trends. This submission includes data, tables and graphs that have been requested in prior budget hearings. We trust they will and Net Revenues ............................................................................................................ 17 Gaming Expansion Revenues .................................................................................................................. 18 State and Local Tax Burden Comparison ........................................................................................... 19 Property Tax Data ....................................................................................................................................... 20 Natural Gas Production and Spot Prices ............................................................................................ 21 Natural Gas Price Trends ($/mmbtu) ................................................................................................... 22 SERS and PSERS Employer Contributions Rates and Funding Ratios

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NGPR-2016Q2.pdf

The Pennsylvania Department of Environmental Protection (DEP) publishes monthly production data submitted by natural gas extractors that operate in the state. Except as otherwise noted, this report uses those data, in conjunction with DEP data 2016 and the calendar year-to-date. These data are current as of August 23, 2016 and pertain only to gas produced from unconventional formations, which include the Marcellus and Utica formations. The final page provides definitions of the technical terms

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MSC_March_31_2021.pdf

firms pay entire increase Note: Figures in dollar millions. Source: Independent Fiscal Office, Analysis of Revenue Proposals (April 2020). Natural Gas Trends 2015 2016 2017 2018 2019 2020 PA Production (bcf) 4,601 5,096 5,364 6,123 6,815 811 777 614 475 Growth Rate -42.7% -36.1% 61.9% -4.2% -21.0% -22.6% PA Natural Gas Spot Price $1.37 $1.47 $2.10 $2.59 $2.10 $1.38 NYMEX Natural Gas Price $2.66

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NGIFE-2018.pdf

2018-2 January 2018 2017 Impact Fee Estimate Pennsylvania imposes an annual impact fee on unconventional (i.e., shale) natural gas wells that were drilled or operating in the previous calendar year. This research brief uses recent data published by the 1 This brief also translates the impact fee into an annual average effective tax rate (ETR) based on recent natural gas price and production data. The ETR quantifies the implicit tax burden imposed by the impact fee in a given year

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Five_Year_Outlook_2020.pdf

well as other revenue sources. To that end, the report includes projections for the Lottery, Tobacco Settlement and Oil and Gas Lease Funds. Certain disbursements from those funds support General Fund programs, and the projections allow policymakers to determine if legislative to increase by $24 million (17.4 percent) in FY 2021-22 due to reduced support from the Oil and Gas Lease Fund (OGLF). Due to diminished royalty revenues resulting from low natural gas prices, the OGLF will not be able

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RB-2019-01.pdf

2019-1 January 2019 2018 Impact Fee Estimate Pennsylvania imposes an annual impact fee on unconventional (i.e., shale) natural gas wells that were drilled or operating in the previous calendar year. This research brief uses recent data published by the 1 This brief also translates the impact fee into an annual average effective tax rate (ETR) based on recent natural gas price and production data. The ETR quantifies the implicit tax burden imposed by the impact fee in a given year

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NGPR-2019Q3.pdf

For the third quarter of 2019, recent data from the Pennsylvania Department of Environmental Protection (DEP) show that total natural gas production volume was 1,714.7 billion cubic feet (bcf) (see Table 1). This output represents an increase of 9 rate in two years. Calendar year production is up 12.7 percent compared to the same period in 2018. Natural Gas Production Report Q3 Table 2: Production Volume by Spud Year (bcf) Third Quarter Calendar Year Spud Year 2018 2019 Growth

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NGPR-2018Q3.pdf

For the third quarter of 2018, recent data from the Pennsylvania Department of Environmental Protection (DEP) show that total natural gas production volume was 1,570.1 billion cubic feet (bcf) (see Table 1). Compared to the third quarter of 2017 5 percent. That rate is considerably higher than the first (9.9 percent) and second (10.0 percent) quarters. Natural Gas Production Report Q3 Table 2: Production Volume by Spud Year (bcf) Third Quarter Calendar Year-to-Date Spud Year 2017

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NGPR-2017Q1.pdf

in any quarter of that year. For non-producing wells, the year-to-date number represents wells that produced no gas for that entire period. “Other” includes wells with miscellaneous designations such as abandoned. All characterizations of wells are based on Trends For the first quarter of 2017, recent data from the Department of Environmental Protection (DEP) show that total natural gas production volume was 1,305.7 billion cubic feet (bcf) and the number of producing wells was 7,678. Compared

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NGIFE-2016.pdf

2017-1 January 2017 2016 Impact Fee Estimate Pennsylvania imposes an annual impact fee on unconventional (i.e., shale) natural gas wells that were drilled or operating in the previous calendar year. This research brief uses recent data published by the 1 This brief also translates the impact fee into an annual average effective tax rate (ETR) based on recent natural gas price and production data. The ETR is a metric that quantifies the implicit tax burden imposed by the impact fee

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MTR-2016-11.pdf

7% FYTD $10,836 $10,727 $110 Growth 1.5% 1.6% -4.5% Dollar amounts are in millions. NATURAL GAS DRILLING JOBS DECLINE AS PRODUCTION INCREASES Employment in the natural gas industry has been declining in Pennsylvania in recent years. Data from the Quarterly Census of Employment and Wages 1 show

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Five_Year_Outlook_2019.pdf

other revenue sources. To that end, the report includes projections for the Lottery, Tobacco Settlement and Oil and Gas Lease Funds. Certain disbursements from those funds support General Fund programs, and the projections allow policymakers to determine if legislative or policy Resources (DCNR) include $47 million of funds appropriated from the Environmental Stewardship Fund, Recycling Fund and Oil and Gas Lease Fund. The forecast as- sumes that these special funds will not provide future support, and the expenditures are returned to the

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Budget Hearings Packet.pdf

Provides detail regarding impact fee revenues including the number of wells subject to the fee and their vintage. • Quarterly Natural Gas Production Report. Provides unconventional production volumes and well counts on a quarterly basis. Top producing counties also listed. • Quarterly Revenue s revenue estimates to actual revenues. Published Reports and Analyses (since January 1, 2016) • Impact Fee Update (January 2016) • Natural Gas Production Report Quarter 4 (February 2016) • Economic Development Incentives (March 2016) • Analysis of Revenue Proposals in FY 2016-17 Executive

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Budget Hearings Packet- Web Version.pdf

Provides detail regarding impact fee revenues including the number of wells subject to the fee and their vintage. • Quarterly Natural Gas Production Report. Provides unconventional production volumes and well counts on a quarterly basis. Top producing counties also listed. • Quarterly Revenue s revenue estimates to actual revenues. Published Reports and Analyses (since January 1, 2016) • Impact Fee Update (January 2016) • Natural Gas Production Report Quarter 4 (February 2016) • Economic Development Incentives (March 2016) • Analysis of Revenue Proposals in FY 2016-17 Executive

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NGPR-2019Q1.pdf

For the first quarter of 2019, recent data from the Pennsylvania Department of Environmental Protection (DEP) show that total natural gas production volume was 1,655.4 billion cubic feet (bcf) (see Table 1). Compared to the first quarter of 2018 by 14.7 percent. Despite decelerating from the previous two quarters, production growth continued to show signifi- cant strength. Natural Gas Production Report Q1 Table 2: Production Volume by Spud Year (bcf) First Quarter Spud Year 2018 2019 Growth Share 2018

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2007_divestment_complete_report.pdf

SINOPEC GROUP) CHINA PETROLEUM AND CHEMICAL CORPORATION (SINOPEC CORP) (majority-owned publicly traded subsidiary, bonds issued) SINOPEC SHANGHAI PETROCHEMICAL CO. LTD. (majority- owned publicly traded subsidiary, bonds issued) SINOPEC KANTON HOLDINGS (majority-owned publicly traded subsidiary) Country: China Industry Sector: Oil PETROLEUM BERHAD Country: Malaysia Industry Sector: Oil KEJURUTERAAN SAMUDRA TIMUR BHD (KSTB) Country: Malaysia Industry Sector: Oil PETROFAC Country: UK Industry Sector: Oil PECD BERHAD BONDS ISSUED Country: Malaysia Industry Sector: Oil - 100 - WEATHERFORD INTERNATIONAL LIMITED BONDS ISSUED WEATHERFORD INTERNATIONAL INCORPORATED

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NGPR-2019Q4.pdf

For the fourth quarter of 2019, recent data from the Pennsylvania Department of Environmental Protection (DEP) show that total natural gas production volume was 1,776.0 billion cubic feet (bcf) (see Table 1). This output represents an increase of 7 over two years. Calendar year production is up 11.4 per- cent compared to the same period in 2018. Natural Gas Production Report Q4 Table 2: Production Volume by Spud Year (bcf) Fourth Quarter Calendar Year Spud Year 2018 2019 Growth

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NGPR-2019Q2.pdf

For the second quarter of 2019, recent data from the Pennsylvania Department of Environmental Protection (DEP) show that total natural gas production volume was 1,668.9 billion cubic feet (bcf) (see Table 1). This represents an increase of 14.5 the pri- or year. Calendar year production is up 14.6 percent compared to the same period in 2018. Natural Gas Production Report Q2 Table 2: Production Volume by Spud Year (bcf) Second Quarter Calendar Year Spud Year 2018 2019 Growth

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NGPR-2018Q4.pdf

For the fourth quarter of 2018, recent data from the Pennsylvania Department of Environmental Protection (DEP) show that total natural gas production volume was 1,650.7 billion cubic feet (bcf) (see Table 1). Compared to the fourth quarter of 2017 was up 14.2 percent from the prior year, the largest year- over-year increase in production since 2014. Natural Gas Production Report Q4 Table 2: Production Volume by Spud Year (bcf) Fourth Quarter Calendar Year Spud Year 2017 2018 Growth

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NGPR-2017Q4.pdf

producing in any quarter of that year. For non-producing wells, the calendar year number represents wells that produced no gas for that entire year. “Other” includes wells with miscellaneous designations such as abandoned. All characterizations of wells are based on Trends For the fourth quarter of 2017, recent data from the Department of Environmental Protection (DEP) show that total natural gas production volume was 1,401.8 billion cubic feet (bcf) and the number of producing wells was 8,268. Compared

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NGPR-2017Q3.pdf

in any quarter of that year. For non-producing wells, the year-to-date number represents wells that produced no gas for that entire period. “Other” includes wells with miscellaneous designations such as abandoned. All characterizations of wells are based on Trends For the third quarter of 2017, recent data from the Department of Environmental Protection (DEP) show that total natural gas production volume was 1,326.2 billion cubic feet (bcf) and the number of producing wells was 8,073. Compared

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NGPR-2017Q2.pdf

in any quarter of that year. For non-producing wells, the year-to-date number represents wells that produced no gas for that entire period. “Other” includes wells with miscellaneous designations such as abandoned. All characterizations of wells are based on Trends For the second quarter of 2017, recent data from the Department of Environmental Protection (DEP) show that total natural gas production volume was 1,315.7 billion cubic feet (bcf) and the number of producing wells was 7,853. Compared

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MTR-2017-02.pdf

Pennsylvania has contracted from 55% in 2006 to 25% in 2016, due, in part, to the increasing prevalence of natural gas. In 2006, natural gas was the third largest source of electricity, comprising 6.2% of electricity generated. Data for 2016 show that natural gas

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IFO_Hearing_Packet_Feb2019.pdf

Comparison .............................................................................. 11 2018-19 Revenue Update........................................................................................................ 12 2019-20 Revenue Projections ............................................................................................... 13 State Comparison: State-Local Tax Burdens ................................................................... 14 Natural Gas Production and Spot Prices ........................................................................... 15 Natural Gas Spot Prices ............................................................................................................ 16 Natural Gas: U.S. and PA Consumption .............................................................................. 17 2018 Impact Fee Estimate ...................................................................................................... 18 Pension Systems Data ............................................................................................................... 20

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NGPR-2020-Q2.pdf

FISCAL OFFICE SECOND QUARTER 2020 This report uses data reported to the Pennsylvania Department of Environmental Protection (DEP) from natural gas operators to develop statewide tabulations of production volume and well counts. These data are presented on a quarterly basis to show recent trends in natural gas activity in the Commonwealth. Production and well count data pertain only to gas produced from unconventional sources (e.g., shale

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NGPR-2018Q2.pdf

For the second quarter of 2018, recent data from the Pennsylvania Department of Environmental Protection (DEP) show that total natural gas production volume was 1,455.8 billion cubic feet (bcf) (see Table 1). Compared to the second quarter of 2017 driven by a 10.0 percent gain in production from horizontal wells, which ac- counts for nearly all production. Natural Gas Production Report Q2 Table 2: Production Volume by Spud Year (bcf) Second Quarter Calendar Year-to-Date Spud Year 2017

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NGPR-2018Q1.pdf

For the first quarter of 2018, recent data from the Pennsylvania Department of Environmental Protection (DEP) show that total natural gas production volume was 1,441.2 billion cubic feet (bcf) (see table 1). Compared to the first quarter of 2017 by a 9.9 percent increase in production from horizontal wells, which ac- counts for nearly all of production. Natural Gas Production Report Q1 Table 2: Production Volume by Spud Year (bcf) First Quarter Calendar Year Spud Year 2017 2018 Growth

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MER-2014-10.pdf

Retail Sales Year‐over‐year growth rate of retail sales based on latest three months of data. Includes purchases of gas and motor vehicles. 3 Residential Home Sales Year‐over‐year growth rate in the number of residential homes sold based relative health of the manu‐ facturing sector. An index greater than 50 indicates that the sector is expanding. 6 Average Gas Price National average price for one gallon of unleaded gasoline. 7 S&P 500 Index An index based on the

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RB-2016-02.pdf

0 Created for the potential development of an ethylene manufacturing facility that would remove ethane and ethane derivatives from natural gas to make industrial products. To qualify, the facility must make a capital in‐ vestment of $1 billion and create 2 ty Fund expenditures. Energy Development Projects $0 $7,694 Provides project funding for facilities to liquefy or re Ðine natural gas, oil or other fuels, or to convert natural gas to ethane, propane or other substances. Marcellus Legacy Fund expenditures from

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NGPR_2020_Q3.pdf

FISCAL OFFICE THIRD QUARTER 2020 This report uses data reported to the Pennsylvania Department of Environmental Protection (DEP) by natural gas operators to develop statewide tabulations of production volume and well counts. These data are presented on a quarterly basis to show recent trends in natural gas activity in the Commonwealth. Production and well count data pertain only to gas produced from unconventional sources (e.g., shale

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Economic_and_Revenue_Update_2021.pdf

hearings have included discussions regarding Pennsylvania’s economic outlook, labor market, revenue collections, demographics, long-term fiscal outlook and natural gas trends. This submission includes data, tables and graphs that have been requested in prior budget hearings. We trust they will General Fund Financial Statement Comparison ........................................................ 13 General Fund Education Expenditures .................................................................... 14 School District Property Tax ................................................................................... 15 Impact Fee and Natural Gas Trends ....................................................................... 16 State and Local Tax Burden: Average Tax Rate and Rank ........................................ 17 SERS and PSERS Financial Data ............................................................................. 18 Tax

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2013_special_report_funding_and_reforming_public_employee_retirement_systems.pdf

well as the privatization of the Pennsylvania lottery system. The City of Philadelphia has considered the sale of the Philadelphia Gas Works in order to provide additional revenue to fund the City’s unfunded pension liabilities. Although somewhat drastic, the liquidation some of the amortization methods shown would not be in compliance with current standards of the Governmental Accounting Standards Board (GASB). However, adoption of one of these amortization methods may provide a payment plan for addressing funding shortfalls which is more

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Presentation_Phil_Chamber_2-12-2015.pdf

revenues through January 2015. • Revisions to FY 2014-15 General Fund revenues. • Implications for projected budget deficits. Latest Economic Developments. • Gas prices. Consumer confidence. Low inflation. 12.Feb.2015 2 Today’s Presentation  Act 120 of 2010 Creates Independent Fiscal request of Gen. Assembly): • HB 1776 and SB 76 – Property Tax Reform. • Medicaid Expansion. • Film Tax Credits. • Taxation of Natural Gas in Pennsylvania. • Consolidation of York County School Districts. Other Products and Releases 12.Feb.2015 4 Revenues and Deficits Budget

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PBB_2020_PEMA_REPORT.pdf

0 Hazardous Material Response Fund 1.8 1.7 1.7 1.8 1.7 1.8 Unconventional Gas Well Fund 0.8 1.0 1.4 1.4 1.9 1.5 Total 307.7 363.3 457.6 428 can cover multiple counties. 2 Hazardousmaterials incidents can include but are not limited to: oil or fuel spills, gas leaks, industrial plant incidents, agricultural runoff, truck overturns, minor chemical spills, etc. Fire Grants and Loan Program | Page 27 Activity 6: Fire

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NGPR_2021_Q2.pdf

FISCAL OFFICE SECOND QUARTER 2021 This report uses data reported to the Pennsylvania Department of Environmental Protection (DEP) by natural gas operators to develop statewide tabulations of production volume and well counts. These data are presented on a quarterly basis to show recent trends in natural gas activity in the Commonwealth. Production and well count data pertain only to gas produced from unconventional sources (e.g., shale

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NGPR_2020_Q4.pdf

FISCAL OFFICE FOURTH QUARTER 2020 This report uses data reported to the Pennsylvania Department of Environmental Protection (DEP) by natural gas operators to develop statewide tabulations of production volume and well counts. These data are presented on a quarterly basis to show recent trends in natural gas activity in the Commonwealth. Production and well count data pertain only to gas produced from unconventional sources (e.g., shale

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NGPR-2020-Q1.pdf

FISCAL OFFICE FIRST QUARTER 2020 This report uses data reported to the Pennsylvania Department of Environmental Protection (DEP) from natural gas operators to develop statewide tabulations of production volume and well counts. These data are presented on a quarterly basis to show recent trends in natural gas activity in the Commonwealth. Production and well count data pertain only to gas produced from unconventional sources (e.g., shale

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Monthly_Economic_Update_August_2021.pdf

delinquencies remain relatively low. However, delinquencies may rise in the fall with the expiration of federal stimulus programs. Summer Natural Gas Prices at Highest Level Since 2014 As noted in a recent WSJ article, natural gas production restraint in the Appalachia region and strong demand have combined to push natural gas prices to their highest levels

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NGPR-2021-Q1.pdf

FISCAL OFFICE FIRST QUARTER 2021 This report uses data reported to the Pennsylvania Department of Environmental Protection (DEP) by natural gas operators to develop statewide tabulations of production volume and well counts. These data are presented on a quarterly basis to show recent trends in natural gas activity in the Commonwealth. Production and well count data pertain only to gas produced from unconventional sources (e.g., shale

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NGPR-2015-1H.pdf

The Pennsylvania Department of Environmental Protection (DEP) publishes monthly production data submitted by natural gas extractors that operate in the state. This report uses those data to develop statewide and county-level tabulations of production volume and well counts for the first six months of 2015. The data summarized in this report pertain exclusively to gas produced from unconventional formations, which include the Marcellus and Utica formations. A separate document published on the IFO’s website

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NGPR-2015-09.pdf

The Pennsylvania Department of Environmental Protection (DEP) publishes monthly production data submitted by natural gas extractors that operate in the state. This report uses those data to develop statewide and county-level tabulations of production volume and well counts for the first six months of 2015. The data summarized in this report pertain exclusively to gas produced from unconventional formations, which include the Marcellus and Utica formations. A separate document published on the IFO’s website

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MER-2013-11.pdf

Sales Year-over-year growth rate of retail sales based on lat- est three months of data. Includes purchases of gas and motor vehicles. 3 Residential Home Sales Year-over-year growth rate in residential home sales based on latest three relative health of the manufacturing sector. An index greater than 50 indi- cates that the sector is expanding. 6 Average Gas Price National average price for one gallon of unleaded gas- oline. 7 S&P 500 Index An index based on

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RB-2015-02-annual_vs_lifetime_ETR.pdf

The rate of tax specified in the statute that authorizes or levies the tax. For severance taxes imposed on natural gas, the statutory tax rate is applied to one (or both) of the following tax bases:  Value. The rate is expressed as a percentage of the market value of gas extracted.  Volume. The rate is expressed in cents per thousand cubic feet (Mcf) of gas extracted. Special Provisions – State

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NewsStand_2019_August.pdf

de- creased by 65%. The data also show that dividends and interest income increased by 13% and 21%, respectively. Natural Gas Prices Plummet Due to Oversupply A recent WSJ article notes that despite record high demand for natural gas this summer, national and regional prices are at the lowest levels in several years due to continued gains in nationwide

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Monthly_Economic_Update_July_2020.pdf

NYMEX Natural Gas Price at Lowest Level in Decades The average price of natural gas on the New York Mercantile Exchange (NYMEX), upon which the Pennsylvania impact fee is based, settled at $1.50 for

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MER-2015-01.pdf

Retail Sales Year-over-year growth rate of retail sales based on latest three months of data. Includes purchases of gas and motor vehicles. 3 Residential Home Sales Year-over-year growth rate in the number of residential homes sold based health of the manu- facturing sector. An index greater than 50 indicates that the sector is expanding. 6 Monthly Average Gas Price National average price for one gallon of regular gasoline. 7 S&P 500 Index An index based on the

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WJ-Presentation-Natural-Gas-7-14-20.pdf

Pennsylvania Impact Fee and Natural Gas Trends Jesse Bushman – Revenue Analyst July 14, 2020 1 Center for Energy Policy & Management Washington & Jefferson College Impact Fee July by producers, varying by well age and type  Fee schedule is determined each year by the average NYMEX natural gas price.  Newer wells pay higher fees, payments decline as a well ages.  Wells can be exempt from the

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PBB-Board-Hearing-Jan-22-2020.pdf

216 9.3% 34.4 6.7% Environmental Cleanup and Brownfields 198 8.5% 50.7 9.8% Oil and Gas Management 177 7.6% 24.2 4.7% Abandoned Mine Reclamation 174 7.5% 60.4 11.7% Waste Management Total 84.5 28.4 13.5 8.8 135.1 Note: Amounts in $ millions. Other includes Chesapeake Bay, Oil-Gas Management, Radiation Protection, Energy Programs, Lab Services. DEP Metric Highlights By 19-20, 65% of inspectors migrated to e-inspection

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Newsstand_2018_April.pdf

News Nationwide News (717) 230-8293 | Rachel Carson State Office Building Harrisburg, PA | www.ifo.state.pa.us Could Shale Gas Lead To a Manufacturing Boom in Appalachia? A recent article from Forbes magazine discusses the production of shale gas in Pennsylvania and surrounding states and its potential impact on the economy and communities. The article notes that production from

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mid-year-FY14-15-presentation.pdf

Commonwealth of Pennsylvania 2015 Revenue Conference Economic Outlook for 2015 and 2016. • Forecasts: June 2014 vs. January 2015. • Drop in gas prices: SUT and other impacts. • Real wage growth: boost to consumer confidence? FY 2014‐15 General Fund Revenues. • Performance through wash” over long‐term, but not short‐term. 28.Jan.2015 6 Forecast: Very Low Inflation 28.Jan.2015 7 Gas Prices Drive Low Inflation CY CY Dec‐13 to CPI 2013 2014 Dec‐14 Weight All Items – Philadelphia CPI‐U

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jackson ppt.pdf

will also return to pre-recession peak employment earlier than US average • PA – 2013Q2 vs. US – 2014Q3 • Marcellus Shale natural gas production has been a big jobs booster. • Natural resources/mining and manufacturing the most obvious sectors. • Many related sectors, especially this presentation may be reproduced, reused, or otherwise distributed in any form without prior written consent. Crude Oil and Natural Gas Prices Have Diverged 11 © 2012, IHS Inc. No portion of this presentation may be reproduced, reused, or otherwise distributed in

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IFO_Hearing_8-30-2017.pdf

Provides detail regarding impact fee revenues including the number of wells subject to the fee and their vintage. • Quarterly Natural Gas Production Report. Provides unconventional production volumes and well counts on a quarterly basis. Top producing counties also listed. • Quarterly Revenue 2016) • Impact Fee Update and 2016 Outlook (July 2016) • Revenue Estimate Performance (August 2016) • Quarterly Revenue Estimate (August 2016) • Natural Gas Production Report Quarter 2 (August 2016) • Using Performance Measures in the State Budget (September 2016) • AFSCME Wage Contract Analysis (September

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2012-10 Monthly Economic Summary FINAL.pdf

Sales Year-over-year growth rate of retail sales based on lat- est three months of data. Includes purchases of gas and motor vehicles. 3 Residential Home Sales Year-over-year growth rate in residential home sales based on latest three relative health of the manufacturing sector. An index greater than 50 indi- cates that the sector is expanding. 6 Average Gas Price National average price for one gallon of unleaded gas- oline. 7 S&P 500 Index An index based on

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RB 2019 County Income Patterns.pdf

certain counties did not experience real income gains at a county-wide level. Eight of those counties were significant natural gas producers, and the material reduction in natural gas royalty payments due to lower prices likely had a significant impact on income growth. For 2015, tax data suggest that

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QRR_2015Q2.pdf

close to $400 million. • The enacted budget package anticipated a transfer of $95 million from the Oil and Gas Lease Fund to the General Fund. The transfer did not occur because the Oil and Gas Lease Fund did not have sufficient resources. In total, the remaining General Fund revenue collections were within $4 million of the projected

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PICPA_Presentation.pdf

Revenue proposals. Loans/enhancements. Efficiency gains.  Unclear what will be enacted.  Severance tax and minimum wage increase.  Gas prices recently recover. Will it last?  Minimum wage: higher incomes vs. lower employment. The Outlook in February 2017 June tax includes taxation of custom programming and certain business storage services. Source: Analysis of Revenue Proposals, IFO, April 2017. Natural Gas Production and Prices June 7, 2017 19 2014 2015 2016 2017 2018 PA Natural Gas Production 4,071 4,597

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Monthly_Economic_Update_July_2021_Final.pdf

gains in the housing market. Impact Fee Revenues Could Increase Significantly in 2022 As noted in a WSJ article, natural gas prices have risen to levels not recorded in over two years as the economy reopens and temperatures run above normal been modest in 2021, reducing a supply glut that restrained prices in prior years. The near-month settlement price of gas on the New York Mercantile Exchange (NYMEX), upon which Pennsylvania’s impact fee schedule is based, is $3.62 for

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Monthly_Economic_Update_December_2020.pdf

amounts for dependents) are also being discussed, which could provide some immediate relief to renters behind on their payments. Natural Gas Price Declines 21%, PA Impact Fee to Fall to Record Low The average price of natural gas on the New York Mercantile Exchange (NYMEX), upon which the Pennsylvania Impact Fee is based, settled at $2.08 for

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MER-2015-04.pdf

Retail Sales Year‐over‐year growth rate of retail sales based on latest three months of data. Includes purchases of gas and motor vehicles. 3 Residential Home Sales Year‐over‐year growth rate in the number of residential homes sold based health of the manu‐ facturing sector. An index greater than 50 indicates that the sector is expanding. 6 Monthly Average Gas Price National average price for one gallon of regular gasoline. 7 S&P 500 Index An index based on the

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MER-2014-06.pdf

Retail Sales Year‐over‐year growth rate of retail sales based on latest three months of data. Includes purchases of gas and motor vehicles. 3 Residential Home Sales Year‐over‐year growth rate in the number of residential homes sold based relative health of the manu‐ facturing sector. An index greater than 50 indicates that the sector is expanding. 6 Average Gas Price National average price for one gallon of unleaded gasoline. 7 S&P 500 Index An index based on the

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Electricity_Update_Sep_2021.pdf

consumption and net exports for Pennsylvania and other regional states. Net generation is broken down into electricity generated from natural gas, coal, nuclear and other sources. Other sources include hydroelectric, wind, solar and other renewable sources. Total consumption is the sum The residential price in Pennsylvania declined by 4.6% from 2016 to 2021. That trend is due to increasing natural gas production that provided a relatively low-cost input for electricity generators in the state. Moreover, the share of total electricity

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2013-09 Monthly Economic Summary-FINAL.pdf

Sales Year-over-year growth rate of retail sales based on lat- est three months of data. Includes purchases of gas and motor vehicles. 3 Residential Home Sales Year-over-year growth rate in residential home sales based on latest three relative health of the manufacturing sector. An index greater than 50 indi- cates that the sector is expanding. 6 Average Gas Price National average price for one gallon of unleaded gas- oline. 7 S&P 500 Index An index based on

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2013-08 Monthly Economic Summary.pdf

Sales Year-over-year growth rate of retail sales based on lat- est three months of data. Includes purchases of gas and motor vehicles. 3 Residential Home Sales Year-over-year growth rate in residential home sales based on latest three relative health of the manufacturing sector. An index greater than 50 indi- cates that the sector is expanding. 6 Average Gas Price National average price for one gallon of unleaded gas- oline. 7 S&P 500 Index An index based on

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2013-07 Monthly Economic Summary.pdf

Sales Year-over-year growth rate of retail sales based on lat- est three months of data. Includes purchases of gas and motor vehicles. 3 Residential Home Sales Year-over-year growth rate in residential home sales based on latest three relative health of the manufacturing sector. An index greater than 50 indi- cates that the sector is expanding. 6 Average Gas Price National average price for one gallon of unleaded gas- oline. 7 S&P 500 Index An index based on

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2013-05_Monthly_Economic_Summary.pdf

Sales Year-over-year growth rate of retail sales based on lat- est three months of data. Includes purchases of gas and motor vehicles. 3 Residential Home Sales Year-over-year growth rate in residential home sales based on latest three relative health of the manufacturing sector. An index greater than 50 indi- cates that the sector is expanding. 6 Average Gas Price National average price for one gallon of unleaded gas- oline. 7 S&P 500 Index An index based on

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2013-04 Monthly Economic Report.pdf

Sales Year-over-year growth rate of retail sales based on lat- est three months of data. Includes purchases of gas and motor vehicles. 3 Residential Home Sales Year-over-year growth rate in residential home sales based on latest three relative health of the manufacturing sector. An index greater than 50 indi- cates that the sector is expanding. 6 Average Gas Price National average price for one gallon of unleaded gas- oline. 7 S&P 500 Index An index based on

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2013-03b Monthly Economic Summary.pdf

Sales Year-over-year growth rate of retail sales based on lat- est three months of data. Includes purchases of gas and motor vehicles. 3 Residential Home Sales Year-over-year growth rate in residential home sales based on latest three relative health of the manufacturing sector. An index greater than 50 indi- cates that the sector is expanding. 6 Average Gas Price National average price for one gallon of unleaded gas- oline. 7 S&P 500 Index An index based on

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2013-02 Monthly Economic Report.pdf

Sales Year-over-year growth rate of retail sales based on lat- est three months of data. Includes purchases of gas and motor vehicles. 3 Residential Home Sales Year-over-year growth rate in residential home sales based on latest three relative health of the manufacturing sector. An index greater than 50 indi- cates that the sector is expanding. 6 Average Gas Price National average price for one gallon of unleaded gas- oline. 7 S&P 500 Index An index based on

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2013-01 Monthly Economic Report.pdf

Sales Year-over-year growth rate of retail sales based on lat- est three months of data. Includes purchases of gas and motor vehicles. 3 Residential Home Sales Year-over-year growth rate in residential home sales based on latest three relative health of the manufacturing sector. An index greater than 50 indi- cates that the sector is expanding. 6 Average Gas Price National average price for one gallon of unleaded gas- oline. 7 S&P 500 Index An index based on

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2012-12 Monthly Economic Summary FINAL.pdf

Sales Year-over-year growth rate of retail sales based on lat- est three months of data. Includes purchases of gas and motor vehicles. 3 Residential Home Sales Year-over-year growth rate in residential home sales based on latest three relative health of the manufacturing sector. An index greater than 50 indi- cates that the sector is expanding. 6 Average Gas Price National average price for one gallon of unleaded gas- oline. 7 S&P 500 Index An index based on

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2012-11 Monthly Economic Summary- DRAFT 6.pdf

Sales Year-over-year growth rate of retail sales based on lat- est three months of data. Includes purchases of gas and motor vehicles. 3 Residential Home Sales Year-over-year growth rate in residential home sales based on latest three relative health of the manufacturing sector. An index greater than 50 indi- cates that the sector is expanding. 6 Average Gas Price National average price for one gallon of unleaded gas- oline. 7 S&P 500 Index An index based on

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Revenue-Estimate-2019-05.pdf

strong growth in the final three quarters of 2018.  Preliminary data suggest that the pace of natural gas production decelerated in 2019 Q1, but maintained recent strength.  Lottery instant ticket sales can serve as a leading or contemporaneous economic PA Taxable Retail Sales 3.0% 5.1% 5.4% 4.7% 3.2% n.a. PA Natural Gas Production 10.1% 10.1% 18.6% 17.8% 14.0% n.a. PA Instant Ticket Sales 4.8% 6.7% 5

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QRE_FY14-15.pdf

1408, which provides for transfers to the board from the State Gaming Fund. Transfer from the Oil and Gas Lease Fund (Act 126) Section 1605-E of the Fiscal Code provides that $95 million shall be transferred from the Oil and Gas Lease Fund to the General Fund in FY 2014-15. Prior Law Sections 1604-E and 1605-E of the Fiscal Code

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Official-Revenue-Estimate-2019-06.pdf

to the first quarter.  Data from the Department of Environmental Protection show that the pace of natural gas produc- tion decelerated in 2019 Q1 but maintained recent strength.  Lottery instant ticket sales can serve as a leading or contemporaneous PA Taxable Retail Sales 3.0% 5.0% 5.4% 4.7% 3.2% 5.6% PA Natural Gas Production 10.1% 10.1% 18.6% 17.8% 14.7% n.a. PA Instant Ticket Sales 4.8% 6.7% 5

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Newsstand_March_2020.pdf

increase was 41,600 jobs (pre-revision) and grew to 55,500 jobs (post-revision) com- pared to 2018. Natural Gas Production Decelerates Recent data from the Department of Environmental Protection (DEP) show that January natural gas production in the Commonwealth increased by 5.4 percent compared to the prior year. This is the weakest year-over-

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Newsstand_2018_November.pdf

lower than others (Virginia (4.2%) and Ohio (3.7%)) and the same as Maryland (3.6%). Regional Hub Natural Gas Prices Spike in November On November 14, a Wall Street Journal article noted that a sudden change in weather forecasts pushed natural gas futures to a four-year high. The article noted that natural gas prices “have climbed more than 50% this year

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MTR-2015-10.pdf

the national inflation rate, which declined 0.4% over the same period. Gasoline prices fell sharply, declining 27.7%. Natural gas prices also fell, declining 14.0%. Overall, energy costs in Pennsylvania declined 17.2%. Excluding energy costs, the CPI-W increased 1.7% in the third quarter of 2015. The impact of low gasoline and natural gas prices will also be reflected in COLAs for 2017. The Social Security Administration does not reduce benefit payments when consumer

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MER-2015-06.pdf

Retail Sales Year-over-year growth rate of retail sales based on latest three months of data. Includes purchases of gas and motor vehicles. 3 Residential Home Sales Year-over-year growth rate in the number of residential homes sold based health of the manu- facturing sector. An index greater than 50 indicates that the sector is expanding. 6 Monthly Average Gas Price National average price for one gallon of regular gasoline. 7 S&P 500 Index An index based on the

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MER-2015-03.pdf

Retail Sales Year‐over‐year growth rate of retail sales based on latest three months of data. Includes purchases of gas and motor vehicles. 3 Residential Home Sales Year‐over‐year growth rate in the number of residential homes sold based health of the manu‐ facturing sector. An index greater than 50 indicates that the sector is expanding. 6 Monthly Average Gas Price National average price for one gallon of regular gasoline. 7 S&P 500 Index An index based on the

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MER-2015-02.pdf

Retail Sales Year‐over‐year growth rate of retail sales based on latest three months of data. Includes purchases of gas and motor vehicles. 3 Residential Home Sales Year‐over‐year growth rate in the number of residential homes sold based health of the manu‐ facturing sector. An index greater than 50 indicates that the sector is expanding. 6 Monthly Average Gas Price National average price for one gallon of regular gasoline. 7 S&P 500 Index An index based on the

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MER-2014-12.pdf

Retail Sales Year‐over‐year growth rate of retail sales based on latest three months of data. Includes purchases of gas and motor vehicles. 3 Residential Home Sales Year‐over‐year growth rate in the number of residential homes sold based relative health of the manu‐ facturing sector. An index greater than 50 indicates that the sector is expanding. 6 Average Gas Price National average price for one gallon of regular gasoline. 7 S&P 500 Index An index based on the

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MER-2014-11.pdf

Retail Sales Year‐over‐year growth rate of retail sales based on latest three months of data. Includes purchases of gas and motor vehicles. 3 Residential Home Sales Year‐over‐year growth rate in the number of residential homes sold based relative health of the manu‐ facturing sector. An index greater than 50 indicates that the sector is expanding. 6 Average Gas Price National average price for one gallon of unleaded gasoline. 7 S&P 500 Index An index based on the

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MER-2014-09.pdf

Retail Sales Year‐over‐year growth rate of retail sales based on latest three months of data. Includes purchases of gas and motor vehicles. 3 Residential Home Sales Year‐over‐year growth rate in the number of residential homes sold based relative health of the manu‐ facturing sector. An index greater than 50 indicates that the sector is expanding. 6 Average Gas Price National average price for one gallon of unleaded gasoline. 7 S&P 500 Index An index based on the

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MER-2014-08.pdf

Retail Sales Year‐over‐year growth rate of retail sales based on latest three months of data. Includes purchases of gas and motor vehicles. 3 Residential Home Sales Year‐over‐year growth rate in the number of residential homes sold based relative health of the manu‐ facturing sector. An index greater than 50 indicates that the sector is expanding. 6 Average Gas Price National average price for one gallon of unleaded gasoline. 7 S&P 500 Index An index based on the

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MER-2014-07.pdf

Retail Sales Year‐over‐year growth rate of retail sales based on latest three months of data. Includes purchases of gas and motor vehicles. 3 Residential Home Sales Year‐over‐year growth rate in the number of residential homes sold based relative health of the manu‐ facturing sector. An index greater than 50 indicates that the sector is expanding. 6 Average Gas Price National average price for one gallon of unleaded gasoline. 7 S&P 500 Index An index based on the

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MER-2014-05.pdf

Retail Sales Year‐over‐year growth rate of retail sales based on latest three months of data. Includes purchases of gas and motor vehicles. 3 Residential Home Sales Year‐over‐year growth rate in the number of residential homes sold based relative health of the manu‐ facturing sector. An index greater than 50 indicates that the sector is expanding. 6 Average Gas Price National average price for one gallon of unleaded gasoline. 7 S&P 500 Index An index based on the

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MER-2014-04.pdf

Retail Sales Year‐over‐year growth rate of retail sales based on latest three months of data. Includes purchases of gas and motor vehicles. 3 Residential Home Sales Year‐over‐year growth rate in the number of residential homes sold based relative health of the manu‐ facturing sector. An index greater than 50 indicates that the sector is expanding. 6 Average Gas Price National average price for one gallon of unleaded gasoline. 7 S&P 500 Index An index based on the

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MER-2014-03.pdf

Retail Sales Year‐over‐year growth rate of retail sales based on latest three months of data. Includes purchases of gas and motor vehicles. 3 Residential Home Sales Year‐over‐year growth rate in the number of residential homes sold based relative health of the manu‐ facturing sector. An index greater than 50 indicates that the sector is expanding. 6 Average Gas Price National average price for one gallon of unleaded gasoline. 7 S&P 500 Index An index based on the

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MER-2014-02.pdf

Retail Sales Year‐over‐year growth rate of retail sales based on latest three months of data. Includes purchases of gas and motor vehicles. 3 Residential Home Sales Year‐over‐year growth rate in the number of residential homes sold based relative health of the manu‐ facturing sector. An index greater than 50 indicates that the sector is expanding. 6 Average Gas Price National average price for one gallon of unleaded gasoline. 7 S&P 500 Index An index based on the

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MER-2014-01.pdf

Retail Sales Year‐over‐year growth rate of retail sales based on latest three months of data. Includes purchases of gas and motor vehicles. 3 Residential Home Sales Year‐over‐year growth rate in the number of residential homes sold based relative health of the manu‐ facturing sector. An index greater than 50 indicates that the sector is expanding. 6 Average Gas Price National average price for one gallon of unleaded gasoline. 7 S&P 500 Index An index based on the

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MER-2013-12.pdf

Retail Sales Year-over-year growth rate of retail sales based on latest three months of data. Includes purchases of gas and motor vehicles. 3 Residential Home Sales Year-over-year growth rate in the number of residential homes sold based relative health of the manu- facturing sector. An index greater than 50 indicates that the sector is expanding. 6 Average Gas Price National average price for one gallon of unleaded gasoline. 7 S&P 500 Index An index based on the

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EPLC Feb 2020 FINAL.pdf

estimates (how much revenues are available?)  Performance based budgeting | Tax credit reviews  Special Studies: property tax reform, natural gas, minimum wage February 28, 2020 2 Today’s Presentation: Three Parts State demographics and economy  Labor market still robust tax: replace with income and sales tax?  Tax burden rankings: how does PA compare to border states?  Natural gas: how is the market doing? February 28, 2020 3 PA Population Snapshot February 28, 2020 4 Number (000s) Change (000s

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ACN_SB1_A01354_A01558_2017_06_03a.pdf

a model practice in the CCA White Paper mentioned in the previous paragraph. Furthermore, this method also complies with the GASB 67 requirements. We concur with the CCA White Paper and believe this approach is preferable for determining costs under a It does not provide any information with regard to the impact any changes may have on financial disclosures under applicable GASB standards. This cost note was prepared under my supervision. I am a Fellow of the Society of Actuaries and a

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2012-09 Monthly Economic Summary 7.pdf

Retail Sales Year-over-year growth rate of retail sales based on latest three months of data. Includes purchases of gas and motor vehicles. 3 Residential Home Sales Year-over-year growth rate in residential home sales based on latest three of the man- ufacturing sector. An index greater than 50 generally indi- cates that the sector is expanding. 6 Average Gas Price National average price for one gallon of unleaded gasoline. 7 S&P 500 Index An index based on the

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2012-08 Monthly Economic Summary_Final.pdf

Retail Sales Year-over-year growth rate of retail sales based on latest three months of data. Includes purchases of gas and motor vehicles. 3 Residential Home Sales Year-over-year growth rate in residential home sales based on latest three of the man- ufacturing sector. An index greater than 50 generally indi- cates that the sector is expanding. 6 Average Gas Price National average price for one gallon of unleaded gasoline. 7 S&P 500 Index An index based on the

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2012-07 Monthly Economic Summary10.pdf

Retail Sales Year-over-year growth rate of retail sales based on latest three months of data. Includes purchases of gas and motor vehicles. Data are from the US Department of Commerce. Residential Home Sales Year-over-year growth rate in greater than 50 generally indicates that the sector is ex- panding. Data are from the Institute of Supply Management. Average Gas Price National average price for one gallon of unleaded gasoline. Data are from the Energy Information Administration. S&P 500

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Releases

labor market continued to improve in July as pandemic-related job losses declined from the prior month. Tags: labor , market , update Full Report Natural Gas Production Report, 2021Q2 August 24, 2021 | Natural Gas This report for the second quarter of 2021 uses data collected by the PA Department of Environmental Protection to develop

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Presentation_PICPA_12-3-2014.pdf

Plus: Delayed Liquor Store Profits Deposit 80 Less: Projected Casino Fees -75 Adjusted Revenue Gain 140 At Risk: Oil and Gas Lease Fund Transfer 95 Potential Net Gain 45 19 Note: millions of dollars. The Snapback: FY 2014-15 to FY PSERS 225 Total Savings 619 From Tobacco Fund (to DHS) $144 From Lottery Fund (to DHS) 172 From Oil and Gas Lease Fund (to DCNR) 16 Total Shifts 332 24 Note: millions of dollars. 261 723 451 211 127 147 -72

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PBB_2021_PennDOT_REPORT.pdf

Funds include Highway Beautification Fund, Motor Vehicle Transaction Recovery Fund, Governor Casey Organ and Tissue Donation Awareness Fund and Unconventional Gas Well Fund. 1 Includes state and federal revenues/reimbursements received by the department. Department of Transportation Overview | Page 6 PennDOT for all modes fell by nearly 8% in the same time period. Transit ridership often declines in response to lower gas prices. Increased competition from private shared-ride platforms (i.e., Lyft, Uber) likely also contribute to this downward trend. From

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NewsStand_2019_December.pdf

other devel- oped nations, higher fertility and immigration rates, that are now both falling in line with international peers. Natural Gas The average price of natural gas on the New York Mercantile Exchange (NYMEX), upon which the Pennsylvania Impact Fee is based, settled at $2.63 for

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MTR-2017-06.pdf

of that contraction (71%) was attributable to support activities for mining. In particular, drilling and support operations for oil and gas mining contracted considerably (-5,922 jobs). The QCEW also publishes data on the average annual wage for each sector (includes 5. U.S.: Annual growth rate of advance retail sales based on latest three months of data. Includes purchases of gas and motor vehicles. Excludes services. Source: U.S. Dept. of Commerce. PA: Annual growth rate of sales tax revenues based

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MTR-2016-08.pdf

were 4.2% higher in the first half of 2016 than the same period in 2015. Declining prices of natural gas and coal, which generated 43.7% of PA electricity in the first half of 2016, may be a factor in 5. U.S.: Annual growth rate of advance retail sales based on latest three months of data. Includes purchases of gas and motor vehicles. Excludes services. Source: U.S. Dept. of Commerce. PA: Annual growth rate of sales tax revenues based

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MTR-2016-03.pdf

to contract was the mining sector (-6.7%), largely due to a reduction in employment from a decline in natural gas drilling activity. Healthcare-social services was the largest sector (13.8% of total), and gross earnings increased by 3.0% 5. U.S.: Annual growth rate of advance retail sales based on latest three months of data. Includes purchases of gas and motor vehicles. Excludes services. Source: U.S. Dept. of Commerce. PA: Annual growth rate of sales tax revenues based

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MTR-2016-02.pdf

in profits is attributable to two sectors. Mining sector profits have deteriorated rapidly due to the collapse in oil and gas prices. In addition, utility profits have weakened due to falling consumption, strong competition and facility upgrades. The losses in these 5. U.S.: Annual growth rate of advance retail sales based on latest three months of data. Includes purchases of gas and motor vehicles. Excludes services. Source: U.S. Dept. of Commerce. PA: Annual growth rate of sales tax revenues based

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MTR-2016-01.pdf

4% increase) since 2007. A recent contraction in the coal mining subsector was more than offset by gains in natural gas extraction. The mining sector now comprises 0.6% of total payroll employment. In absolute terms, the healthcare sector (includes social 5. U.S.: Annual growth rate of advance retail sales based on latest three months of data. Includes purchases of gas and motor vehicles. Excludes services. Source: U.S. Dept. of Commerce. PA: Annual growth rate of sales tax revenues based

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Monthly_Economic_Update_Table_December_2020.pdf

2.26 $2.32 CPI-U All Items 4 0.4% 0.6% 0.8% n.a. n.a. Natural Gas Price 5 $1.22 $1.17 $1.07 $0.98 $2.37 Home Sales 6 13.8% 16.2% 4 growth rate, domestic profits only. Source: U.S. Bureau of Economic Analysis. 5. Price is weighted average from major Pennsylvania gas hubs. Unit is dollars per MMBtu. Source: Bentek Energy. 6. Seasonally Adjusted Annual Rate. Pennsylvania figures represent northeast region. Source

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Monthly_Economic_Update_September_2021_Indicators.pdf

3.15 $3.18 CPI-U All Items 4 3.5% 4.2% 4.9% 4.7% 4.6% Natural Gas Price 5 $1.95 $2.03 $2.23 $2.87 $3.51 Number of Home Sales 6 -3.9% -1 growth rate, domestic profits only. Source: U.S. Bureau of Economic Analysis. 5. Price is weighted average from major Pennsylvania gas hubs. Unit is dollars per MMBtu. Source: Bentek Energy. 6. Seasonally Adjusted Annual Rate. Pennsylvania figures represent northeast region. Source

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Monthly_Economic_Update_September_2021.pdf

3.15 $3.18 CPI-U All Items 4 3.5% 4.2% 4.9% 4.7% 4.6% Natural Gas Price 5 $1.95 $2.03 $2.23 $2.87 $3.51 Number of Home Sales 6 -3.9% -1 growth rate, domestic profits only. Source: U.S. Bureau of Economic Analysis. 5. Price is weighted average from major Pennsylvania gas hubs. Unit is dollars per MMBtu. Source: Bentek Energy. 6. Seasonally Adjusted Annual Rate. Pennsylvania figures represent northeast region. Source

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Monthly_Economic_Update_September_2020.pdf

2.25 $2.29 CPI-U All Items 4 0.0% 0.1% 0.3% 0.4% n.a. Natural Gas Price 5 $1.31 $1.34 $1.31 $1.25 $1.07 Home Sales 6 -13.0% 4.3% 32 growth rate, domestic profits only. Source: U.S. Bureau of Economic Analysis. 5. Price is weighted average from major Pennsylvania gas hubs. Unit is dollars per MMBtu. Source: Bentek Energy. 6. Seasonally Adjusted Annual Rate. Pennsylvania figures represent northeast region. Source

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Monthly_Economic_Update_October_2020.pdf

2.28 $2.28 CPI-U All Items 4 0.1% 0.3% 0.4% n.a. n.a. Natural Gas Price 5 $1.34 $1.32 $1.22 $1.19 $0.45 Home Sales 6 4.3% 32.7% 13 growth rate, domestic profits only. Source: U.S. Bureau of Economic Analysis. 5. Price is weighted average from major Pennsylvania gas hubs. Unit is dollars per MMBtu. Source: Bentek Energy. 6. Seasonally Adjusted Annual Rate. Pennsylvania figures represent northeast region. Source

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Monthly_Economic_Update_November_2020_Final.pdf

2.28 $2.24 CPI-U All Items 4 0.3% 0.4% 0.6% 0.8% n.a. Natural Gas Price 5 $1.32 $1.22 $1.17 $0.94 $1.93 Home Sales 6 32.7% 13.8% 16 growth rate, domestic profits only. Source: U.S. Bureau of Economic Analysis. 5. Price is weighted average from major Pennsylvania gas hubs. Unit is dollars per MMBtu. Source: Bentek Energy. 6. Seasonally Adjusted Annual Rate. Pennsylvania figures represent northeast region. Source

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Monthly_Economic_Update_May_2021.pdf

2.87 $2.86 CPI-U All Items 4 1.1% 1.0% 1.0% 2.2% 3.5% Natural Gas Price 5 $2.01 $2.27 $3.29 $2.03 $1.87 Number of Home Sales 6 3.5% -2 growth rate, domestic profits only. Source: U.S. Bureau of Economic Analysis. 5. Price is weighted average from major Pennsylvania gas hubs. Unit is dollars per MMBtu. Source: Bentek Energy. 6. Seasonally Adjusted Annual Rate. Pennsylvania figures represent northeast region. Source

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Monthly_Economic_Update_May_2020.pdf

2.06 $2.00 CPI-U All Items 4 2.5% 2.6% 1.2% -0.1% n.a. Natural Gas Price 5 $1.65 $1.60 $1.37 $1.42 $1.35 Home Sales 6 10.5% 9.7% n growth rate, domestic profits only. Source: U.S. Bureau of Economic Analysis. 5. Price is weighted average from major Pennsylvania gas hubs. Unit is dollars per MMBtu. Source: Bentek Energy. 6. Source: Zillow. 7. The quarterly, annualized real growth rate of

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Monthly_Economic_Update_March_2021.pdf

2.47 $2.63 CPI-U All Items 4 0.8% 0.9% 1.1% 1.0% 1.0% Natural Gas Price 5 $1.07 $1.09 $2.01 $2.27 $3.18 Home Sales 6 3.6% -1.1% 3 growth rate, domestic profits only. Source: U.S. Bureau of Economic Analysis. 5. Price is weighted average from major Pennsylvania gas hubs. Unit is dollars per MMBtu. Source: Bentek Energy. 6. Seasonally Adjusted Annual Rate. Pennsylvania figures represent northeast region. Source

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Monthly_Economic_Update_June_2021_Indicators.pdf

2.86 $3.01 CPI-U All Items 4 1.0% 1.0% 2.2% 3.5% n.a. Natural Gas Price 5 $2.27 $3.29 $2.03 $1.95 $1.97 Number of Home Sales 6 -2.2% -11 growth rate, domestic profits only. Source: U.S. Bureau of Economic Analysis. 5. Price is weighted average from major Pennsylvania gas hubs. Unit is dollars per MMBtu. Source: Bentek Energy. 6. Seasonally Adjusted Annual Rate. Pennsylvania figures represent northeast region. Source

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Monthly_Economic_Update_June_2021.pdf

2.86 $3.01 CPI-U All Items 4 1.0% 1.0% 2.2% 3.5% n.a. Natural Gas Price 5 $2.27 $3.29 $2.03 $1.95 $1.97 Number of Home Sales 6 -2.2% -11 growth rate, domestic profits only. Source: U.S. Bureau of Economic Analysis. 5. Price is weighted average from major Pennsylvania gas hubs. Unit is dollars per MMBtu. Source: Bentek Energy. 6. Seasonally Adjusted Annual Rate. Pennsylvania figures represent northeast region. Source

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Monthly_Economic_Update_June_2020.pdf

2.03 $2.13 CPI-U All Items 4 2.6% 1.2% -0.1% n.a. n.a. Natural Gas Price 5 $1.60 $1.37 $1.43 $1.31 $1.40 Home Sales 6 9.7% n.a. n growth rate, domestic profits only. Source: U.S. Bureau of Economic Analysis. 5. Price is weighted average from major Pennsylvania gas hubs. Unit is dollars per MMBtu. Source: Bentek Energy. 6. Source: Zillow. 7. The quarterly, annualized real growth rate of

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Monthly_Economic_Update_July_2021_Indicators.pdf

3.01 $3.08 CPI-U All Items 4 1.0% 2.2% 3.5% 4.2% 4.9% Natural Gas Price 5 $3.29 $2.03 $1.95 $2.03 $2.06 Number of Home Sales 6 -11.5% -1 growth rate, domestic profits only. Source: U.S. Bureau of Economic Analysis. 5. Price is weighted average from major Pennsylvania gas hubs. Unit is dollars per MMBtu. Source: Bentek Energy. 6. Seasonally Adjusted Annual Rate. Pennsylvania figures represent northeast region. Source

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Monthly_Economic_Update_January_2021_Indicators.pdf

2.34 $2.45 CPI-U All Items 4 0.6% 0.8% 0.9% 1.1% n.a. Natural Gas Price 5 $1.17 $1.07 $1.09 $1.98 $2.32 Home Sales 6 16.2% 4.7% -2 growth rate, domestic profits only. Source: U.S. Bureau of Economic Analysis. 5. Price is weighted average from major Pennsylvania gas hubs. Unit is dollars per MMBtu. Source: Bentek Energy. 6. Seasonally Adjusted Annual Rate. Pennsylvania figures represent northeast region. Source

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Monthly_Economic_Update_January_2021.pdf

2.34 $2.45 CPI-U All Items 4 0.6% 0.8% 0.9% 1.1% n.a. Natural Gas Price 5 $1.17 $1.07 $1.09 $1.98 $2.32 Home Sales 6 16.2% 4.7% -2 growth rate, domestic profits only. Source: U.S. Bureau of Economic Analysis. 5. Price is weighted average from major Pennsylvania gas hubs. Unit is dollars per MMBtu. Source: Bentek Energy. 6. Seasonally Adjusted Annual Rate. Pennsylvania figures represent northeast region. Source

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Monthly_Economic_Update_February_2021_Indicators.pdf

2.34 $2.47 CPI-U All Items 4 0.6% 0.8% 0.9% 1.1% n.a. Natural Gas Price 5 $1.17 $1.07 $1.09 $2.01 $2.30 Home Sales 6 16.2% 4.7% -1 growth rate, domestic profits only. Source: U.S. Bureau of Economic Analysis. 5. Price is weighted average from major Pennsylvania gas hubs. Unit is dollars per MMBtu. Source: Bentek Energy. 6. Seasonally Adjusted Annual Rate. Pennsylvania figures represent northeast region. Source

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Monthly_Economic_Update_February_2021.pdf

2.34 $2.47 CPI-U All Items 4 0.6% 0.8% 0.9% 1.1% n.a. Natural Gas Price 5 $1.17 $1.07 $1.09 $2.01 $2.30 Home Sales 6 16.2% 4.7% -1 growth rate, domestic profits only. Source: U.S. Bureau of Economic Analysis. 5. Price is weighted average from major Pennsylvania gas hubs. Unit is dollars per MMBtu. Source: Bentek Energy. 6. Seasonally Adjusted Annual Rate. Pennsylvania figures represent northeast region. Source

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Monthly_Economic_Update_August_2020.pdf

2.25 $2.24 CPI-U All Items 4 -0.1% 0.0% 0.1% n.a. n.a. Natural Gas Price 5 $1.43 $1.31 $1.34 $1.32 $1.26 Home Sales 6 -16.9% -13.0% 4 growth rate, domestic profits only. Source: U.S. Bureau of Economic Analysis. 5. Price is weighted average from major Pennsylvania gas hubs. Unit is dollars per MMBtu. Source: Bentek Energy. 6. Seasonally Adjusted Annual Rate. Pennsylvania figures represent northeast region. Source

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Monthly_Economic_Update_April_2021_Indicators.pdf

2.63 $2.87 CPI-U All Items 4 0.9% 1.1% 1.0% 1.0% n.a. Natural Gas Price 5 $1.09 $2.01 $2.27 $3.29 $2.15 Home Sales 6 -1.1% 3.5% -2 growth rate, domestic profits only. Source: U.S. Bureau of Economic Analysis. 5. Price is weighted average from major Pennsylvania gas hubs. Unit is dollars per MMBtu. Source: Bentek Energy. 6. Seasonally Adjusted Annual Rate. Pennsylvania figures represent northeast region. Source

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Monthly_Economic_Update_April_2021.pdf

2.63 $2.87 CPI-U All Items 4 0.9% 1.1% 1.0% 1.0% n.a. Natural Gas Price 5 $1.09 $2.01 $2.27 $3.29 $2.15 Home Sales 6 -1.1% 3.5% -2 growth rate, domestic profits only. Source: U.S. Bureau of Economic Analysis. 5. Price is weighted average from major Pennsylvania gas hubs. Unit is dollars per MMBtu. Source: Bentek Energy. 6. Seasonally Adjusted Annual Rate. Pennsylvania figures represent northeast region. Source

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Monthly_Economic_Update_April_2020.pdf

2.35 $2.08 CPI-U All Items 4 2.4% 2.5% 2.6% n.a. n.a. Natural Gas Price 5 $1.81 $1.65 $1.60 $1.37 $1.26 Home Sales 6 8.7% 10.6% n growth rate, domestic profits only. Source: U.S. Bureau of Economic Analysis. 5. Price is weighted average from major Pennsylvania gas hubs. Unit is dollars per MMBtu. Source: Bentek Energy. 6. Source: Zillow. 7. The quarterly, annualized real growth rate of

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TC_2020_Keystone_Innovation_Zone_Tax_Credit.pdf

by Industry Code Table 2.3 Note: Other Category includes the following industries: Mining, Quarrying and Oil and Gas Extraction; Utilities; Transportation and Warehousing; Finance and Insurance; Arts, Entertainment and Recreation; Accommodation and Food Services and Other Services (except Public Administration

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TC_2019_New_Jobs_Tax_Credit_Report.pdf

Industry Jobs Credit 11 Agriculture, Forestry, Fishing, and Hunting 580 $1,540 21 Mining, Quarrying and Oil and Gas Extraction 25 25 23 Construction 98 98 31-33 Manufacturing 7,207 15,206 42 Wholesale Trade 1,101 2,284 44-

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Revenue-Estimate-2019-05-Presentation.pdf

Other factors break positive to boost revenues  Federal Reserve does not increase rates (talk of rate reduction)  Temporary gas price dip, large volume of stock buybacks  Wayfair court decision  Low medical care inflation PA consumers do not

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REU-2020-02.pdf

slight increase in the fourth quarter after declining in the second and third quarters.  U.S. and Pennsylvania average gas prices dropped this month to the lowest levels since the beginning of 2019.  Pennsylvania taxable retail sales continue to

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RB-10-2020-Economic_Development_Incentives.pdf

at $26.7 million in annual awards) is intended to encourage investment in Pennsylvania manufacturing facilities that use dry natural gas in the production of petrochemicals and fertilizers. The program becomes effective January 1, 2024.  As part of the tax

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Public Employee Retirement Laws of PA Local Governments (2009).pdf

does not require any particular actuarial cost method, economic actuarial assumptions, or minimum funding standard. However, Governmental Accounting Standards Board (GASB) Statement #50 requires the disclo- sure of actuarial data based upon the entry age normal cost method for 2009 and

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Presentation_2017_02_10_EPLC.pdf

Recent budgets have utilized a succession of short-term measures.  Shifts to the Lottery, Tobacco Settlement and Oil and Gas Lease funds.  Transfers of available monies from special funds.  Acceleration of revenue or deferrals of expenditures.  Loans

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Presentation_2016-06-08_GPNP_Budget_Outlook.pdf

 Recent budgets have utilized a succession of short‐ term measures. • Shifts to the Lottery, Tobacco Settlement and Oil and Gas Lease funds. • Transfers of available monies from special funds. • Acceleration of revenue or deferrals of expenditures. • “Snap‐back” as one‐

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Presentation-2019-3-1-EPLC.pdf

interim collections and Act 1 allocations, excludes delinquent collections. FY 2017-18 property taxes are estimated by the IFO. Natural Gas Statistics March 1, 2019 25 2014 2015 2016 2017 2018 2019 Production (bcf) 4,069 4,596 5,094 5

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Presentation-2018-06-PICPA.pdf

S. Bureau of Labor Statistics, Quarterly Census of Employment and Wages. 2017 is preliminary. June.12.2018 7 PA Natural Gas Statistics 2014 2015 2016 2017 2018 Production (bcf) 4,053 4,582 5,082 5,354 5,888 Growth 31

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Presentation-2018-06-Philly-Pitt-Chambers.pdf

the Management and Administrative-Waste Management sectors. Source: U.S. Bureau of Labor Statistics. June.04.2018 6 PA Natural Gas Statistics 2014 2015 2016 2017 2018 Production (bcf) 4,053 4,582 5,082 5,354 5,888 Growth 31

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Presentation-2018-06-PASBO.pdf

the Management and Administrative-Waste Management sectors. Source: U.S. Bureau of Labor Statistics. June.05.2018 5 PA Natural Gas Statistics 2014 2015 2016 2017 2018 Production (bcf) 4,053 4,582 5,082 5,354 5,888 Growth 31

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PBB_2021_DMVA_REPORT.pdf

9% -- % Facilities audited by the Environmental Performance Assessment System 2,3 -- 32% 42% 44% 45% -- Notes: 6 Includes electric, natural gas, oil, steam, propane and solar. 5.To ensure that all usable real property assets are correctly recorded on the Facilities

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PA_Turnpike_Toll_Projections_May_31_2013.pdf

2009 and I-576 near the Pittsburgh International Airport in 2011. 19 Burris and Huang, “The Short Run Impact of Gas Prices on Toll Roads,” University Transportation Center for Mobility, 2011, at http://utcm.tamu.edu/publications/final_reports/Burris_09-01-03

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Official_Revenue_Estimate_Methodology_2021.pdf

Patents and Copyrights: The model assumes that the overall growth in royalty payments tracks with the projected growth in natural gas prices. The yearly growth rates of the residual income (i.e., rents, patents and copyrights) is extrapolated based on the

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Official-Revenue-Estimate-Methodology-2020-6.pdf

Copyrights: The model assumes that the overall growth in royalty payments tracks with the projected growth in natural gas prices. The yearly growth rates of the residual income (i.e., rents, patents and copyrights) is extrapolated based on the current forecast

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Official-Revenue-Estimate-Methodology-2019-06.pdf

Copyrights: The model assumes that the overall growth in royalty payments tracks with the projected growth in natural gas prices. The yearly growth rates of the residual income (i.e. rents, patents and copyrights) is extrapolated based on the current forecast

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Official-Revenue-Estimate-2018-06.pdf

projected net job gains. The construction and transportation sectors also record solid gains. The re- covery of natural gas prices coincides with modest net job gains for the mining sector, while the manufacturing sector also recovers after a significant contraction in

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Newsstand_2019_March.pdf

gains in medical care (3.9%) and home furnishings (4.5%). Regional inflation was suppressed due to a drop in gas prices (-11.3%). Excluding consumer purchases related to en- ergy, the CPI-U increase was 1.9%. - March 2019- National

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Newsstand_2018_December.pdf

Fee Schedule for CY 2018 Final futures data for CY 2018 reveal that the average price for Henry Hub natural gas on the NYMEX exceeded $3.00 per MMBtu. Due to very strong price gains in November and December, the average

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MTR-2019-06.pdf

5. U.S.: Annual growth rate of advance retail sales based on latest three months of data. Includes purchases of gas and motor vehicles. Excludes services. Source: U.S. Department of Commerce. PA: Annual growth rate of sales tax revenues based

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MTR-2019-05.pdf

5. U.S.: Annual growth rate of advance retail sales based on latest three months of data. Includes purchases of gas and motor vehicles. Excludes services. Source: U.S. Department of Commerce. PA: Annual growth rate of sales tax revenues based

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MTR-2019-04.pdf

5. U.S.: Annual growth rate of advance retail sales based on latest three months of data. Includes purchases of gas and motor vehicles. Excludes services. Source: U.S. Department of Commerce. PA: Annual growth rate of sales tax revenues based

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MTR-2019-03.pdf

5. U.S.: Annual growth rate of advance retail sales based on latest three months of data. Includes purchases of gas and motor vehicles. Excludes services. Source: U.S. Department of Commerce. PA: Annual growth rate of sales tax revenues based

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MTR-2019-02.pdf

5. U.S.: Annual growth rate of advance retail sales based on latest three months of data. Includes purchases of gas and motor vehicles. Excludes services. Source: U.S. Department of Commerce. PA: Annual growth rate of sales tax revenues based

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MTR-2019-01.pdf

5. U.S.: Annual growth rate of advance retail sales based on latest three months of data. Includes purchases of gas and motor vehicles. Excludes services. Source: U.S. Department of Commerce. PA: Annual growth rate of sales tax revenues based

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MTR-2018-12.pdf

5. U.S.: Annual growth rate of advance retail sales based on latest three months of data. Includes purchases of gas and motor vehicles. Excludes services. Source: U.S. Department of Commerce. PA: Annual growth rate of sales tax revenues based

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MTR-2018-11.pdf

5. U.S.: Annual growth rate of advance retail sales based on latest three months of data. Includes purchases of gas and motor vehicles. Excludes services. Source: U.S. Department of Commerce. PA: Annual growth rate of sales tax revenues based

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MTR-2018-10.pdf

5. U.S.: Annual growth rate of advance retail sales based on latest three months of data. Includes purchases of gas and motor vehicles. Excludes services. Source: U.S. Department of Commerce. PA: Annual growth rate of sales tax revenues based

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MTR-2018-1.pdf

5. U.S.: Annual growth rate of advance retail sales based on latest three months of data. Includes purchases of gas and motor vehicles. Excludes services. Source: U.S. Dept. of Commerce. PA: Annual growth rate of sales tax revenues based

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MTR-2018-09.pdf

5. U.S.: Annual growth rate of advance retail sales based on latest three months of data. Includes purchases of gas and motor vehicles. Excludes services. Source: U.S. Department of Commerce. PA: Annual growth rate of sales tax revenues based

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MTR-2018-07.pdf

5. U.S.: Annual growth rate of advance retail sales based on latest three months of data. Includes purchases of gas and motor vehicles. Excludes services. Source: U.S. Department of Commerce. PA: Annual growth rate of sales tax revenues based

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MTR-2018-06.pdf

5. U.S.: Annual growth rate of advance retail sales based on latest three months of data. Includes purchases of gas and motor vehicles. Excludes services. Source: U.S. Department of Commerce. PA: Annual growth rate of sales tax revenues based

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MTR-2018-05.pdf

5. U.S.: Annual growth rate of advance retail sales based on latest three months of data. Includes purchases of gas and motor vehicles. Excludes services. Source: U.S. Department of Commerce. PA: Annual growth rate of sales tax revenues based

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MTR-2018-04.pdf

5. U.S.: Annual growth rate of advance retail sales based on latest three months of data. Includes purchases of gas and motor vehicles. Excludes services. Source: U.S. Dept. of Commerce. PA: Annual growth rate of sales tax revenues based

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MTR-2018-03.pdf

5. U.S.: Annual growth rate of advance retail sales based on latest three months of data. Includes purchases of gas and motor vehicles. Excludes services. Source: U.S. Dept. of Commerce. PA: Annual growth rate of sales tax revenues based

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MTR-2018-02.pdf

5. U.S.: Annual growth rate of advance retail sales based on latest three months of data. Includes purchases of gas and motor vehicles. Excludes services. Source: U.S. Dept. of Commerce. PA: Annual growth rate of sales tax revenues based

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MTR-2017-12.pdf

5. U.S.: Annual growth rate of advance retail sales based on latest three months of data. Includes purchases of gas and motor vehicles. Excludes services. Source: U.S. Dept. of Commerce. PA: Annual growth rate of sales tax revenues based

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MTR-2017-11.pdf

5. U.S.: Annual growth rate of advance retail sales based on latest three months of data. Includes purchases of gas and motor vehicles. Excludes services. Source: U.S. Dept. of Commerce. PA: Annual growth rate of sales tax revenues based

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MTR-2017-10.pdf

5. U.S.: Annual growth rate of advance retail sales based on latest three months of data. Includes purchases of gas and motor vehicles. Excludes services. Source: U.S. Dept. of Commerce. PA: Annual growth rate of sales tax revenues based

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MTR-2017-09.pdf

5. U.S.: Annual growth rate of advance retail sales based on latest three months of data. Includes purchases of gas and motor vehicles. Excludes services. Source: U.S. Dept. of Commerce. PA: Annual growth rate of sales tax revenues based

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MTR-2017-08.pdf

5. U.S.: Annual growth rate of advance retail sales based on latest three months of data. Includes purchases of gas and motor vehicles. Excludes services. Source: U.S. Dept. of Commerce. PA: Annual growth rate of sales tax revenues based

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MTR-2017-07.pdf

5. U.S.: Annual growth rate of advance retail sales based on latest three months of data. Includes purchases of gas and motor vehicles. Excludes services. Source: U.S. Dept. of Commerce. PA: Annual growth rate of sales tax revenues based

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MTR-2017-05.pdf

5. U.S.: Annual growth rate of advance retail sales based on latest three months of data. Includes purchases of gas and motor vehicles. Excludes services. Source: U.S. Dept. of Commerce. PA: Annual growth rate of sales tax revenues based

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MTR-2017-04.pdf

5. U.S.: Annual growth rate of advance retail sales based on latest three months of data. Includes purchases of gas and motor vehicles. Excludes services. Source: U.S. Dept. of Commerce. PA: Annual growth rate of sales tax revenues based

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MTR-2017-03.pdf

5. U.S.: Annual growth rate of advance retail sales based on latest three months of data. Includes purchases of gas and motor vehicles. Excludes services. Source: U.S. Dept. of Commerce. PA: Annual growth rate of sales tax revenues based

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MTR-2017-01.pdf

5. U.S.: Annual growth rate of advance retail sales based on latest three months of data. Includes purchases of gas and motor vehicles. Excludes services. Source: U.S. Dept. of Commerce. PA: Annual growth rate of sales tax revenues based

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MTR-2016-12.pdf

5. U.S.: Annual growth rate of advance retail sales based on latest three months of data. Includes purchases of gas and motor vehicles. Excludes services. Source: U.S. Dept. of Commerce. PA: Annual growth rate of sales tax revenues based

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MTR-2016-10.pdf

5. U.S.: Annual growth rate of advance retail sales based on latest three months of data. Includes purchases of gas and motor vehicles. Excludes services. Source: U.S. Dept. of Commerce. PA: Annual growth rate of sales tax revenues based

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MTR-2016-09.pdf

5. U.S.: Annual growth rate of advance retail sales based on latest three months of data. Includes purchases of gas and motor vehicles. Excludes services. Source: U.S. Dept. of Commerce. PA: Annual growth rate of sales tax revenues based

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MTR-2016-06.pdf

5. U.S.: Annual growth rate of advance retail sales based on latest three months of data. Includes purchases of gas and motor vehicles. Excludes services. Source: U.S. Dept. of Commerce. PA: Annual growth rate of sales tax revenues based

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MTR-2016-05.pdf

5. U.S.: Annual growth rate of advance retail sales based on latest three months of data. Includes purchases of gas and motor vehicles. Excludes services. Source: U.S. Dept. of Commerce. PA: Annual growth rate of sales tax revenues based

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MTR-2016-04.pdf

5. U.S.: Annual growth rate of advance retail sales based on latest three months of data. Includes purchases of gas and motor vehicles. Excludes services. Source: U.S. Dept. of Commerce. PA: Annual growth rate of sales tax revenues based

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MTR-2015-11.pdf

5. U.S.: Annual growth rate of advance retail sales based on latest three months of data. Includes purchases of gas and motor vehicles. Excludes services. Source: U.S. Dept. of Commerce. PA: Annual growth rate of sales tax revenues based

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MTR-2015-09.pdf

5. U.S.: Annual growth rate of advance retail sales based on latest three months of data. Includes purchases of gas and motor vehicles. Excludes services. Source: U.S. Dept. of Commerce. PA: Annual growth rate of sales tax revenues based

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MTR-2015-08.pdf

5. U.S.: Annual growth rate of advance retail sales based on latest three months of data. Includes purchases of gas and motor vehicles. Excludes services. Source: U.S. Dept. of Commerce. PA: Annual growth rate of sales tax revenues based

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MTR-2015-07.pdf

5. U.S.: Annual growth rate of advance retail sales based on latest three months of data. Includes purchases of gas and motor vehicles. Excludes services. Source: U.S. Dept. of Commerce. PA: Annual growth rate of sales and use taxes

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Mid_Year_FY16-17_Presentation.pdf

6 Year-Over-Year Growth Rates PA Energy Inflation Returns -40% -30% -20% -10% 0% 10% Residential Electricity Residential Natural Gas Gasoline Source: U.S. Energy Information Administration. 25.Jan.2017 7 PA Wage Growth Underperforms Source: U.S. Bureau of

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mid-year-FY14-15-press-release.pdf

Other 30 Mainly related to the NIZ and CRIZ programs. ------ Subtotal – Increases 520 Decreases Non-Tax Revenue -160 No Oil & Gas Lease Fund transfer or casino license fees. Personal Income -55 Concerns about wage growth and strength of annual payment. Bank

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Initial_Estimate_May_2017_Presentation.pdf

have negative impact.  Wage growth underperforms despite strong labor market.  Business investment disappoints, but picking up.  Natural gas prices collapsed; lower royalty payments. Technical factors work in same direction.  Income growth does not translate into spending growth

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Initial-Revenue-Estimate-2018-05.pdf

projected net job gains. The construction and transportation sectors also record solid gains. The re- covery of natural gas prices coincides with modest net job gains for the mining sector, while the manufacturing sector also recovers after a significant contraction in

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IFO-Presentation-11-14-2019.pdf

33.23 33.55 34.45 3.3% Note: billions of dollars. Special Funds includes Lottery, Tobacco Settlement, Oil and Gas Lease, ESF and Recycling Funds. General Fund Financial Statement November 14, 2019 20 19-20 20-21 21-22 22-

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HTAE_2019_05_15.pdf

1.6% 1.7% 1.3% 1.5% Home Price Index 6.2% 5.4% 4.6% 5.0% --- Natural Gas Production 10.1% 10.1% 18.6% 17.8% 14.0% Lottery Instant Ticket Sales 4.8% 6.7% 5

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Five_Year_Outlook_2016_IFO_PPT.pdf

06 07-08 09-10 11-12 13-14 15-16 17-18 19-20 21-22 Tobacco Lottery Oil & Gas Note: figures in dollar millions. Lottery Fund Balance Sheet 15-16 16-17 17-18 18-19 Beg. Balance $15

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EPLC-2-19-21.pdf

issues: ▪ Revenue estimates (how much revenues are available?) ▪ Performance based budgeting | Tax credit reviews ▪ Special Studies: property tax reform, natural gas, minimum wage February 19, 2021 2 Today’s Presentation: Three Parts State demographics, economy and COVID impacts ▪ A contracting labor

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Demographics_Outlook_2020.pdf

Pike, Schuylkill and Wayne) grew by 0.5 percent per annum, likely due to rapid increases in natural gas production in that part of the state. However, from 2010 to 2019, that growth appears to have peaked as population declined by

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CNIT-Rate-Cut-2018-04.pdf

was the significant decline in remittances by the mining sector, due to the lower profitability from the collapse of natural gas prices. Table 3: Corporate Net Income Tax Cash Payments by Industry 2014-15 2015-16 2016-17 Share Agriculture, Forestry

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Budget_Hearing_Testimony-Feb2014.pdf

taverns. • Proposed legislative changes to reduce the holding period for unclaimed property or to transfer monies from the Oil and Gas Lease Fund. • Additional slots or table games fees from new casino openings Thank you. I would be happy to answer

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2020_Mid_Year_Update.pdf

3.0% | form of payment shift | impact from safe harbors  Upside: strong stock market to end year  Natural gas royalties down due to prices January 28, 2020 9 PIT Payments Growth January 28, 2020 10 Tax Year Basis 2015

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2002_dbdc_report.pdf

differences between the DB plan and a DC plan on internal budget principles and procedures should be addressed. Accounting – Under GASB standards, the cost for a DC plan is essentially the amount of employer contributions to the plan, as contrasted with

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About IFO

revenues from the inheritance and gross receipts taxes along with numerous projects related to school district property taxes and natural gas. Prior to joining the IFO, Mr. Bushman was employed as a Purchasing Intern at Volvo Construction Equipment in Shippensburg, PA

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