Revenue Estimate PerformanceThis report examines the performance of IFO revenue estimates for the past eleven budget cycles. Tags: estimate, performance, revenue |
PBB Overview Presentation for PID and EOIFO presentation of Performance-Based Budget overview and agency highlights for the Pennsylvania Insurance Department and the Executive Offices is posted on the website. Tags: budgeting, performance |
PBB Overview Presentation for DORIFO presentation of Performance-Based Budget overview and agency highlights for the Department of Revenue is posted on the website. Tags: budgeting, performance |
PBB Overview Presentation for DCNR and DDAPIFO presentation of Performance-Based Budget overview and agency highlights for the Department of Conservation and Natural Resources and the Department of Drug and Alcohol Programs is posted on the website. Tags: budgeting, performance |
Executive OfficesAct 48 of 2017 requires the Independent Fiscal Office (IFO) to develop performance-based budget plans for all agencies under the Governor’s jurisdiction once every five years. For the fifth year, the IFO reviewed the Department of Conservation and Natural Resources, Department of Drug and Alcohol Programs, Department of Revenue, Pennsylvania Insurance Department and the Executive Offices. Click on the link to access the performance-based budget review for the Executive Offices. Approved by the PBB Board on January 11, 2023.
Tags: budgeting, performance |
Pennsylvania Insurance DepartmentAct 48 of 2017 requires the Independent Fiscal Office (IFO) to develop performance-based budget plans for all agencies under the Governor’s jurisdiction once every five years. For the fifth year, the IFO reviewed the Department of Conservation and Natural Resources, Department of Drug and Alcohol Programs, Department of Revenue, Pennsylvania Insurance Department and the Executive Offices. Click on the link to access the performance-based budget review for the Pennsylvania Insurance Department. Approved by the PBB Board on January 11, 2023. The report was reposted on January 18, 2023 to correct a single year of data on page 14.
Tags: budgeting, performance |
Department of RevenueAct 48 of 2017 requires the Independent Fiscal Office (IFO) to develop performance-based budget plans for all agencies under the Governor’s jurisdiction once every five years. For the fifth year, the IFO reviewed the Department of Conservation and Natural Resources, Department of Drug and Alcohol Programs, Department of Revenue, Pennsylvania Insurance Department and the Executive Offices. Click on the link to access the performance-based budget review for the Department of Revenue. Approved by the PBB Board on January 10, 2023. Tags: budgeting, performance |
Department of Drug and Alcohol ProgramsAct 48 of 2017 requires the Independent Fiscal Office (IFO) to develop performance-based budget plans for all agencies under the Governor’s jurisdiction once every five years. For the fifth year, the IFO reviewed the Department of Conservation and Natural Resources, Department of Drug and Alcohol Programs, Department of Revenue, Pennsylvania Insurance Department and the Executive Offices. Click on the link to access the performance-based budget review for the Department of Drug and Alcohol. Approved by the PBB Board on January 9, 2023. Tags: budgeting, performance |
Department of Conservation and Natural ResourcesAct 48 of 2017 requires the Independent Fiscal Office (IFO) to develop performance-based budget plans for all agencies under the Governor’s jurisdiction once every five years. For the fifth year, the IFO reviewed the Department of Conservation and Natural Resources, Department of Drug and Alcohol Programs, Department of Revenue, Pennsylvania Insurance Department and the Executive Offices. Click on the link to access the performance-based budget review for the Department of Conservation and Natural Resources. Approved by the PBB Board on January 9, 2023. Tags: budgeting, performance |
REVENUE ESTIMATE PERFORMANCEThis report examines the performance of IFO revenue estimates for the past ten budget cycles. Tags: estimates, performance, revenues |
Department of Human Services - Part 3Act 48 of 2017 requires the Independent Fiscal Office (IFO) to develop performance-based budget plans for all agencies under the Governor’s jurisdiction once every five years. For the fourth year, the IFO reviewed the Departments of Aging, Agriculture, Education, Human Services (Part 3), Labor and Industry and the Pennsylvania Historical and Museum Commission. Click on the link to access the performance-based budget review for the Department of Human Services (Part 3). Approved by the PBB Board on January 25, 2022. The report was updated on May 4, 2022 to include addenda to Activity 1, 7 and 10.
Tags: budgeting, performance |
Department of EducationAct 48 of 2017 requires the Independent Fiscal Office (IFO) to develop performance-based budget plans for all agencies under the Governor’s jurisdiction once every five years. For the fourth year, the IFO reviewed the Departments of Aging, Agriculture, Education, Human Services (Part 3), Labor and Industry and the Pennsylvania Historical and Museum Commission. Click on the link to access the performance-based budget review for the Department of Education. Tabled by the PBB Board on January 26, 2022. The report was updated on January 31, 2022 for technical changes on pages 10, 15 and 16. The report was updated on April 26, 2022. The amended report includes additions requested by the PBB Board on March 9, 2022. The board’s request can be viewed here: http://www.ifo.state.pa.us//Resources/Documents/PBB_Board_Amend_03_09_22.pdf The underlying data for the dot plots can be viewed here: http://www.ifo.state.pa.us//Resources/Documents/DotPlotData.xlsx Approved by the PBB Board on May 25, 2022. Tags: budgeting, performance |
Department of AgingAct 48 of 2017 requires the Independent Fiscal Office (IFO) to develop performance-based budget plans for all agencies under the Governor’s jurisdiction once every five years. For the fourth year, the IFO reviewed the Departments of Aging, Agriculture, Education, Human Services (Part 3), Labor and Industry and the Pennsylvania Historical and Museum Commission. Click on the link to access the performance-based budget review for the Department of Aging. Approved by the PBB Board on January 25, 2022. The report was updated on April 26, 2022 to include an addendum to Activity 1. Tags: budgeting, performance |
PBB Overview Presentation for PDEIFO presentation of Performance-Based Budget overview and agency highlights for the Pennsylvania Department of Education is posted on the website. Tags: budgeting, performance |
PBB Overview Presentation for PDE and AgricultureIFO presentation of Performance-Based Budget overview and agency highlights for the Pennsylvania Department of Education and the Department of Agriculture is posted on the website. Tags: budgeting, performance |
PBB Overview Presentation for Aging and DHS (Part 3)IFO presentation of Performance-Based Budget overview and agency highlights for the Department of Aging and the Department of Human Services (Part 3) is posted on the website. Tags: budgeting, performance |
PBB Overview Presentation for DLI and PHMCIFO presentation of Performance-Based Budget overview and agency highlights for the Department of Labor and Industry and the Pennsylvania Historical and Museum Commission is posted on the website. Tags: budgeting, performance |
Department of AgricultureAct 48 of 2017 requires the Independent Fiscal Office (IFO) to develop performance-based budget plans for all agencies under the Governor’s jurisdiction once every five years. For the fourth year, the IFO reviewed the Departments of Aging, Agriculture, Education, Human Services (Part 3), Labor and Industry and the Pennsylvania Historical and Museum Commission. Click on the link to access the performance-based budget review for the Department of Agriculture. Approved by the PBB Board on January 26, 2022. The report was updated on January 26, 2022 for technical changes on pages 20 and 21.
Tags: budgeting, performance |
Pennsylvania Historical and Museum CommissionAct 48 of 2017 requires the Independent Fiscal Office (IFO) to develop performance-based budget plans for all agencies under the Governor’s jurisdiction once every five years. For the fourth year, the IFO reviewed the Departments of Aging, Agriculture, Education, Human Services (Part 3), Labor and Industry and the Pennsylvania Historical and Museum Commission. Click on the link to access the performance-based budget review for the Pennsylvania Historical and Museum Commision. Approved by the PBB Board on January 24, 2022. Tags: budgeting, performance |
Department of Labor and IndustryAct 48 of 2017 requires the Independent Fiscal Office (IFO) to develop performance-based budget plans for all agencies under the Governor’s jurisdiction once every five years. For the fourth year, the IFO reviewed the Departments of Aging, Agriculture, Education, Human Services (Part 3), Labor and Industry and the Pennsylvania Historical and Museum Commission. Click on the link to access the performance-based budget review for the Department of Labor and Industry. Approved by the PBB Board on January 24, 2022. Tags: budgeting, performance |
PBB Addendums and Updated KSDZ Tax Credit Report PresentationThe IFO presented the PBB Addendums and revised KSDZ Tax Credit report to the Performance Based Budget Board. Tags: based, budget, credit, performance, tax |
Department of Military and Veterans AffairsAct 48 of 2017 requires the Independent Fiscal Office (IFO) to develop performance-based budget plans for all agencies under the Governor’s jurisdiction once every five years. For the third year, the IFO reviewed the Department of Transportation, Department of Human Services (Part 2), Department of Military and Veterans Affairs and Pennsylvania State Police. Click on the link to access the performance-based budget review for the Department of Military and Veterans Affairs. Tags: budgeting, performance |
Department of Human Services - Part 2Act 48 of 2017 requires the Independent Fiscal Office (IFO) to develop performance-based budget plans for all agencies under the Governor’s jurisdiction once every five years. For the third year, the IFO reviewed the Department of Transportation, Department of Human Services (Part 2), Department of Military and Veterans Affairs and Pennsylvania State Police. Click on the link to access the performance-based budget review for the Department of Human Services (Part 2). Tags: budgeting, performance |
Department of TransportationAct 48 of 2017 requires the Independent Fiscal Office (IFO) to develop performance-based budget plans for all agencies under the Governor’s jurisdiction once every five years. For the third year, the IFO reviewed the Department of Transportation, Department of Human Services (Part 2), Department of Military and Veterans Affairs and Pennsylvania State Police. Click on the link to access the performance-based budget review for the Department of Transportation. Tags: budgeting, performance |
Pennsylvania State PoliceAct 48 of 2017 requires the Independent Fiscal Office (IFO) to develop performance-based budget plans for all agencies under the Governor’s jurisdiction once every five years. For the third year, the IFO reviewed the Department of Transportation, Department of Human Services (Part 2), Department of Military and Veterans Affairs and Pennsylvania State Police. Click on the link to access the performance-based budget review for the Pennsylvania State Police. Tags: budgeting, performance |
Revenue Estimate PerformanceThis report examines the performance of IFO revenue estimates for the past nine budget cycles. Tags: estimates, performance, revenue |
PBB Overview Presentation for PSP and DMVAIFO presentation of Performance-Based Budget overview and agency highlights for the Pennsylvania State Police and the Department of Military and Veterans Affairs is posted on the website. Tags: budgeting, performance |
PBB Overview Presentation for PennDOT and DHS (Part 2)IFO presentation of Performance-Based Budget overview and agency highlights for the Department of Transportation and the Department of Human Services (Part 2). Tags: budgeting, performance |
Revenue Estimate PerformanceThis report examines the performance of IFO revenue estimates for the past eight budget cycles. Tags: estimates, performance, revenue |
Summary and Analysis of Annual PSERS Stress Test ReportPursuant to Act 128 of 2020, the IFO issued a report that summarizes results from the Public School Employees Retirement System’s (PSERS) recent stress test report. Based on PSERS’ baseline projections, the IFO projects that from FY 2024-25 to FY 2051-52, the Commonwealth will use $53.0 billion in General Fund revenues (2.7%) for the state’s share of public school employer pension contributions. Relative to baseline projections, the report also summarizes the impact from scenarios that allow investment performance to exceed and fall short of assumptions. 02/28/2024 |
Summary and Analysis of Annual SERS Stress Test ReportPursuant to Act 128 of 2020, the IFO issued a report that summarizes results from the State Employee Retirement System’s (SERS) recent stress test report. Based on SERS baseline projections, the IFO projects that over the next 20 years, Commonwealth agencies will use $24.9 billion in General Fund revenues (2.0%) for employer pension contributions. Relative to baseline projections, the report also summarizes the impact from scenarios that allow investment performance to exceed and fall short of baseline assumptions and the issuance of an 8.3% cost-of-living adjustment (equal to a 13th monthly annuity each year). 12/01/2023 |
Revenue Estimate performanceThis report examines the performance of IFO revenue estimates for the past eleven budget cycles. 08/10/2023 |
Summary and Analysis of Annual PSERS Stress Test ReportPursuant to Act 128 of 2020, the IFO issued a report that summarizes results from the Public School Employees Retirement System’s (PSERS) recent stress test report. Based on PSERS baseline projections, the IFO projects that from FY 2023-24 to FY 2050-51, the Commonwealth will use $46.5 billion in General Fund revenues (2.3%) for the state’s share of public school employer pension contributions. Relative to baseline projections, the report also summarizes the impact from scenarios that allow investment performance to exceed and fall short of baseline assumptions. 03/01/2023 |
PBB Overview Presentation for PID and EOIFO presentation of performance-Based Budget overview and agency highlights for the Pennsylvania Insurance Department and the Executive Offices is posted on the website. 01/11/2023 |
PBB Overview Presentation for DORIFO presentation of performance-Based Budget overview and agency highlights for the Department of Revenue is posted on the website. 01/10/2023 |
PBB Overview Presentation for DCNR and DDAPIFO presentation of performance-Based Budget overview and agency highlights for the Department of Conservation and Natural Resources and the Department of Drug and Alcohol Programs is posted on the website. 01/09/2023 |
Executive OfficesAct 48 of 2017 requires the Independent Fiscal Office (IFO) to develop performance-based budget plans for all agencies under the Governor’s jurisdiction once every five years. For the fifth year, the IFO reviewed the Department of Conservation and Natural Resources, Department of Drug and Alcohol Programs, Department of Revenue, Pennsylvania Insurance Department and the Executive Offices. Click on the link to access the performance-based budget review for the Executive Offices. Approved by the PBB Board on January 11, 2023. 01/05/2023 |
Pennsylvania Insurance DepartmentAct 48 of 2017 requires the Independent Fiscal Office (IFO) to develop performance-based budget plans for all agencies under the Governor’s jurisdiction once every five years. For the fifth year, the IFO reviewed the Department of Conservation and Natural Resources, Department of Drug and Alcohol Programs, Department of Revenue, Pennsylvania Insurance Department and the Executive Offices. Click on the link to access the performance-based budget review for the Pennsylvania Insurance Department. Approved by the PBB Board on January 11, 2023. The report was reposted on January 18, 2023 to correct a single year of data on page 14. 01/05/2023 |
Department of RevenueAct 48 of 2017 requires the Independent Fiscal Office (IFO) to develop performance-based budget plans for all agencies under the Governor’s jurisdiction once every five years. For the fifth year, the IFO reviewed the Department of Conservation and Natural Resources, Department of Drug and Alcohol Programs, Department of Revenue, Pennsylvania Insurance Department and the Executive Offices. Click on the link to access the performance-based budget review for the Department of Revenue. Approved by the PBB Board on January 10, 2023. 01/05/2023 |
Department of Drug and Alcohol ProgramsAct 48 of 2017 requires the Independent Fiscal Office (IFO) to develop performance-based budget plans for all agencies under the Governor’s jurisdiction once every five years. For the fifth year, the IFO reviewed the Department of Conservation and Natural Resources, Department of Drug and Alcohol Programs, Department of Revenue, Pennsylvania Insurance Department and the Executive Offices. Click on the link to access the performance-based budget review for the Department of Drug and Alcohol. Approved by the PBB Board on January 9, 2023. 01/05/2023 |
Department of Conservation and Natural ResourcesAct 48 of 2017 requires the Independent Fiscal Office (IFO) to develop performance-based budget plans for all agencies under the Governor’s jurisdiction once every five years. For the fifth year, the IFO reviewed the Department of Conservation and Natural Resources, Department of Drug and Alcohol Programs, Department of Revenue, Pennsylvania Insurance Department and the Executive Offices. Click on the link to access the performance-based budget review for the Department of Conservation and Natural Resources. Approved by the PBB Board on January 9, 2023. 01/05/2023 |
Summary and Analysis of Annual SERS Stress Test ReportPursuant to Act 128 of 2020, the IFO issued a report that summarizes results from the State Employee Retirement System’s (SERS) recent stress test report. Based on SERS baseline projections, the IFO projects that over the next 20 years, Commonwealth agencies will use $17.8 billion in General Fund revenues (1.5%) for employer pension contributions. Relative to baseline projections, the report also summarizes the impact from scenarios that allow investment performance and member salary growth to exceed and fall short of baseline assumptions. 12/01/2022 |
REVENUE ESTIMATE performanceThis report examines the performance of IFO revenue estimates for the past ten budget cycles. 10/12/2022 |
Department of Human Services - Part 3Act 48 of 2017 requires the Independent Fiscal Office (IFO) to develop performance-based budget plans for all agencies under the Governor’s jurisdiction once every five years. For the fourth year, the IFO reviewed the Departments of Aging, Agriculture, Education, Human Services (Part 3), Labor and Industry and the Pennsylvania Historical and Museum Commission. Click on the link to access the performance-based budget review for the Department of Human Services (Part 3). Approved by the PBB Board on January 25, 2022. The report was updated on May 4, 2022 to include addenda to Activity 1, 7 and 10. 05/04/2022 |
Department of EducationAct 48 of 2017 requires the Independent Fiscal Office (IFO) to develop performance-based budget plans for all agencies under the Governor’s jurisdiction once every five years. For the fourth year, the IFO reviewed the Departments of Aging, Agriculture, Education, Human Services (Part 3), Labor and Industry and the Pennsylvania Historical and Museum Commission. Click on the link to access the performance-based budget review for the Department of Education. Tabled by the PBB Board on January 26, 2022. The report was updated on January 31, 2022 for technical changes on pages 10, 15 and 16. The report was updated on April 26, 2022. The amended report includes additions requested by the PBB Board on March 9, 2022. The board’s request can be viewed here: http://www.ifo.state.pa.us//Resources/Documents/PBB_Board_Amend_03_09_22.pdf The underlying data for the dot plots can be viewed here: http://www.ifo.state.pa.us//Resources/Documents/DotPlotData.xlsx Approved by the PBB Board on May 25, 2022. 04/27/2022 |
Department of AgingAct 48 of 2017 requires the Independent Fiscal Office (IFO) to develop performance-based budget plans for all agencies under the Governor’s jurisdiction once every five years. For the fourth year, the IFO reviewed the Departments of Aging, Agriculture, Education, Human Services (Part 3), Labor and Industry and the Pennsylvania Historical and Museum Commission. Click on the link to access the performance-based budget review for the Department of Aging. Approved by the PBB Board on January 25, 2022. The report was updated on April 26, 2022 to include an addendum to Activity 1. 04/26/2022 |
PBB Overview Presentation for PDEIFO presentation of performance-Based Budget overview and agency highlights for the Pennsylvania Department of Education is posted on the website. 03/09/2022 |
PBB Overview Presentation for PDE and AgricultureIFO presentation of performance-Based Budget overview and agency highlights for the Pennsylvania Department of Education and the Department of Agriculture is posted on the website. 01/26/2022 |
PBB Overview Presentation for Aging and DHS (Part 3)IFO presentation of performance-Based Budget overview and agency highlights for the Department of Aging and the Department of Human Services (Part 3) is posted on the website. 01/25/2022 |
PBB Overview Presentation for DLI and PHMCIFO presentation of performance-Based Budget overview and agency highlights for the Department of Labor and Industry and the Pennsylvania Historical and Museum Commission is posted on the website. 01/24/2022 |
Department of AgricultureAct 48 of 2017 requires the Independent Fiscal Office (IFO) to develop performance-based budget plans for all agencies under the Governor’s jurisdiction once every five years. For the fourth year, the IFO reviewed the Departments of Aging, Agriculture, Education, Human Services (Part 3), Labor and Industry and the Pennsylvania Historical and Museum Commission. Click on the link to access the performance-based budget review for the Department of Agriculture. Approved by the PBB Board on January 26, 2022. The report was updated on January 26, 2022 for technical changes on pages 20 and 21. 01/20/2022 |
Pennsylvania Historical and Museum CommissionAct 48 of 2017 requires the Independent Fiscal Office (IFO) to develop performance-based budget plans for all agencies under the Governor’s jurisdiction once every five years. For the fourth year, the IFO reviewed the Departments of Aging, Agriculture, Education, Human Services (Part 3), Labor and Industry and the Pennsylvania Historical and Museum Commission. Click on the link to access the performance-based budget review for the Pennsylvania Historical and Museum Commision. Approved by the PBB Board on January 24, 2022. 01/20/2022 |
Department of Labor and IndustryAct 48 of 2017 requires the Independent Fiscal Office (IFO) to develop performance-based budget plans for all agencies under the Governor’s jurisdiction once every five years. For the fourth year, the IFO reviewed the Departments of Aging, Agriculture, Education, Human Services (Part 3), Labor and Industry and the Pennsylvania Historical and Museum Commission. Click on the link to access the performance-based budget review for the Department of Labor and Industry. Approved by the PBB Board on January 24, 2022. 01/20/2022 |
PBB Addendums and Updated KSDZ Tax Credit Report PresentationThe IFO presented the PBB Addendums and revised KSDZ Tax Credit report to the performance Based Budget Board. 09/28/2021 |
Department of Military and Veterans AffairsAct 48 of 2017 requires the Independent Fiscal Office (IFO) to develop performance-based budget plans for all agencies under the Governor’s jurisdiction once every five years. For the third year, the IFO reviewed the Department of Transportation, Department of Human Services (Part 2), Department of Military and Veterans Affairs and Pennsylvania State Police. Click on the link to access the performance-based budget review for the Department of Military and Veterans Affairs. 09/24/2021 |
Department of Human Services - Part 2Act 48 of 2017 requires the Independent Fiscal Office (IFO) to develop performance-based budget plans for all agencies under the Governor’s jurisdiction once every five years. For the third year, the IFO reviewed the Department of Transportation, Department of Human Services (Part 2), Department of Military and Veterans Affairs and Pennsylvania State Police. Click on the link to access the performance-based budget review for the Department of Human Services (Part 2). 09/24/2021 |
Department of TransportationAct 48 of 2017 requires the Independent Fiscal Office (IFO) to develop performance-based budget plans for all agencies under the Governor’s jurisdiction once every five years. For the third year, the IFO reviewed the Department of Transportation, Department of Human Services (Part 2), Department of Military and Veterans Affairs and Pennsylvania State Police. Click on the link to access the performance-based budget review for the Department of Transportation. 09/24/2021 |
Pennsylvania State PoliceAct 48 of 2017 requires the Independent Fiscal Office (IFO) to develop performance-based budget plans for all agencies under the Governor’s jurisdiction once every five years. For the third year, the IFO reviewed the Department of Transportation, Department of Human Services (Part 2), Department of Military and Veterans Affairs and Pennsylvania State Police. Click on the link to access the performance-based budget review for the Pennsylvania State Police. 09/24/2021 |
Revenue Estimate performanceThis report examines the performance of IFO revenue estimates for the past nine budget cycles. 09/16/2021 |
performance-Based Budget Board Hearing RequestThe IFO responded to a question raised during the performance-Based Budget Board hearing on April 26, 2021 by providing Neighborhood Assistance Program and the Resource Enhancement and Protection Program Tax Credit awards by region or county. 05/04/2021 |
PBB Overview Presentation for PSP and DMVAIFO presentation of performance-Based Budget overview and agency highlights for the Pennsylvania State Police and the Department of Military and Veterans Affairs is posted on the website. 04/28/2021 |
PBB Overview Presentation for PennDOT and DHS (Part 2)IFO presentation of performance-Based Budget overview and agency highlights for the Department of Transportation and the Department of Human Services (Part 2). 04/27/2021 |
Revenue Estimate performanceThis report examines the performance of IFO revenue estimates for the past eight budget cycles. 09/03/2020 |
OBMD, MTBI, R&D, and KIZ Tax Credit Reviews and PBB Overview for DCED, DOH and DHSIFO presentation of Organ and Bone Marrow Donation, Mobile Telecommunications Broadband Investment, Research and Development and Keystone Innovation Zone Tax Credit Reviews and performance-Based Budget highlights for the Department of Community and Economic Development, Department of Health and Department of Human Services. 01/22/2020 |
PBB Overview Presentation for PEMA, DOS and DEPIFO presentation of performance-Based Budget overview and agency highlights for the Pennsylvania Emergency Management Agency, Department of State and Department of Environmental Protection. 01/22/2020 |
performance-Based Budget Board Hearings Agenda- Year 2The IFO has posted the agenda for upcoming performance-based budget and tax credit review hearings. 01/21/2020 |
Department of Human Services - Part 1Act 48 of 2017 requires the Independent Fiscal Office (IFO) to develop performance-based budget plans for all agencies under the Governor’s jurisdiction once every five years. For the second year, the IFO reviewed the Department of Community and Economic Development, Department of Human Services (Part 1), Department of Health, Department of Environmental Protection, Department of State and Pennsylvania Emergency Management Agency. Click on the link to access the performance-based budget review for the Department of Human Services. The report has been reposted with modifications adopted by vote of the performance-Based Budget Board. 01/21/2020 |
Department of Community and Economic DevelopmentAct 48 of 2017 requires the Independent Fiscal Office (IFO) to develop performance-based budget plans for all agencies under the Governor’s jurisdiction once every five years. For the second year, the IFO reviewed the Department of Community and Economic Development, Department of Human Services (Part 1), Department of Health, Department of Environmental Protection, Department of State and Pennsylvania Emergency Management Agency. Click on the link to access the performance-based budget review for the Department of Community and Economic Development. 01/21/2020 |
Department of HealthAct 48 of 2017 requires the Independent Fiscal Office (IFO) to develop performance-based budget plans for all agencies under the Governor’s jurisdiction once every five years. For the second year, the IFO reviewed the Department of Community and Economic Development, Department of Human Services (Part 1), Department of Health, Department of Environmental Protection, Department of State and Pennsylvania Emergency Management Agency. Click on the link to access the performance-based budget review for the Department of Health. 01/20/2020 |
Pennsylvania Emergency Management AgencyAct 48 of 2017 requires the Independent Fiscal Office (IFO) to develop performance-based budget plans for all agencies under the Governor’s jurisdiction once every five years. For the second year, the IFO reviewed the Department of Community and Economic Development, Department of Human Services (Part 1), Department of Health, Department of Environmental Protection, Department of State and Pennsylvania Emergency Management Agency. Click on the link to access the performance-based budget review for the Pennsylvania Emergency Management Agency. 01/16/2020 |
Department of StateAct 48 of 2017 requires the Independent Fiscal Office (IFO) to develop performance-based budget plans for all agencies under the Governor’s jurisdiction once every five years. For the second year, the IFO reviewed the Department of Community and Economic Development, Department of Human Services (Part 1), Department of Health, Department of Environmental Protection, Department of State and Pennsylvania Emergency Management Agency. This report was updated to reflect the performance-Based Budget Board vote to amend the report on January 22, 2020. Click on the link to access the performance-based budget review for the Department of State. 01/16/2020 |
Department of Environmental ProtectionAct 48 of 2017 requires the Independent Fiscal Office (IFO) to develop performance-based budget plans for all agencies under the Governor’s jurisdiction once every five years. For the second year, the IFO reviewed the Department of Community and Economic Development, Department of Human Services (Part 1), Department of Health, Department of Environmental Protection, Department of State and Pennsylvania Emergency Management Agency. Click on the link to access the performance-based budget review for the Department of Environmental Protection. 01/16/2020 |
Revenue Estimate performanceThis report examines the performance of IFO revenue estimates for the past seven budget cycles. 07/26/2019 |
performance-Based Budget Board Hearings Agenda- RevisedThe IFO has posted a revised agenda for the upcoming performance-based budget and tax credit review hearings. 01/22/2019 |
performance-Based Budget ReviewsClick on the hyperlink above to access the five performance-based budget reviews and presentations. 01/18/2019 |
performance-Based Budget Board Hearings AgendaThe IFO has posted the agenda for upcoming performance-based budget and tax credit review hearings. 01/16/2019 |
performance-Based Budget Board Hearings ScheduleThe IFO has posted the schedule for upcoming performance-based budget and tax credit review hearings. 12/14/2018 |
performance-Based Budgeting UpdateOn October 15, Deputy Director Brenda Warburton gave a presentation to the performance-Based Budget Board which provided an update regarding Act 48 implementation. 10/16/2018 |
Revenue Estimate performanceThis report examines the performance of IFO revenue estimates for the past six budget cycles. 07/25/2018 |
performance-Based Budget and Tax Credit Review ScheduleThe IFO has posted the schedule for upcoming performance-based budgets and tax credit reviews. 01/30/2018 |
Revenue Estimate performanceThis report examines the performance of IFO revenue estimates for the past five budget cycles. 12/22/2017 |
Department of Corrections performance MeasuresAt the request of the General Assembly, the IFO has published a performance measurement report for the Department of Corrections (DOC) in advance of the agency’s budget hearings. The report includes agency cost-drivers, performance metrics and multi-state comparisons. The DOC report arises from the IFO’s 2016 report, “Using performance Measures in the State Budget,” in which the office outlined options for performance measurement and provided a prototype report that could be integrated into the state budget process and utilized during annual budget hearings. 02/27/2017 |
Using performance Measures in the State BudgetDiscusses performance-based budgeting and how it could be integrated into Pennsylvania's budget process. Highlights how other states are effectively using performance measures in their budget systems. Includes a prototype report which could be used in agency budget hearings and provides a method for quick integration. 09/19/2016 |
Revenue Estimate performanceExamination of the performance of IFO revenue estimates for the past four budget cycles (August 2016). 08/12/2016 |
State Economic ComparisonThis research brief uses Real GDP, Personal Income and Payroll Employment to compare economic performance in Pennsylvania to four adjacent states and the U.S. over the past decade. 09/30/2014 |
PBB_2021_DHS_REPORT_ADDENDUM.pdf717) 230-8293 | contact@ifo.state.pa.us INDEPENDENT FISCAL OFFICE March 25, 2021 The Honorable Members of the Pennsylvania Performance-Based Budget Board: Act 48 of 2017 specifies that the Independent Fiscal Office (IFO) shall “review agency performance-based budget information and develop an agency performance-based budget plan for agencies subject to a per- formance-based budget Hits: 67 |
PBB_2021_PennDOT_REPORT_ADDENDUM.pdf717) 230-8293 | contact@ifo.state.pa.us INDEPENDENT FISCAL OFFICE March 25, 2021 The Honorable Members of the Pennsylvania Performance-Based Budget Board: Act 48 of 2017 specifies that the Independent Fiscal Office (IFO) shall “review agency performance-based budget information and develop an agency performance-based budget plan for agencies subject to a per- formance-based budget Hits: 63 |
PBB_2022_PDE_REPORT_Amended.pdf717) 230-8293 | contact@ifo.state.pa.us INDEPENDENT FISCAL OFFICE January 19, 2022 The Honorable Members of the Pennsylvania Performance-Based Budget Board: Act 48 of 2017 specifies that the Independent Fiscal Office (IFO) shall “review agency performance-based budget information and develop an agency performance-based budget plan for agencies subject to a per- formance-based budget Hits: 59 |
index.cfmRevenue Estimates Revenue & Economic Update Performance Budgeting Energy Pension Analysis Property Tax Wage Contracts Tax Credit Review Economics and Other Featured Releases Treasury Windfalls Boost Revenues public school employer pension contributions. Relative to baseline projections, the report also summarizes the impact from scenarios that allow investment performance to exceed and fall short of assumptions. ... (Full Report) Natural Gas Quarterly Update, 2023 Q4 Energy February 26, 2024 This Hits: 58 |
PBB_2020_DCED_REPORT.pdf8293 | contact@ifo.state.pa.us INDEPENDENT FISCAL OFFICE January 21, 2020 The Honorable Members of the Pennsylvania Performance-Based Budget Board: Act 48 of 2017 specifies that the Independent Fiscal Office (IFO) shall “review agency performance-based budget information and develop an agency performance-based budget plan for agencies subject to a per- formance-based budget review.” This Hits: 54 |
PBB_2022_DHS_REPORT_ADDENDUM.pdf717) 230-8293 | contact@ifo.state.pa.us INDEPENDENT FISCAL OFFICE January 19, 2022 The Honorable Members of the Pennsylvania Performance-Based Budget Board: Act 48 of 2017 specifies that the Independent Fiscal Office (IFO) shall “review agency performance-based budget information and develop an agency performance-based budget plan for agencies subject to a per- formance-based budget Hits: 48 |
PBB_2020_DHS_REPORT_Final_Updated.pdf8293 | contact@ifo.state.pa.us INDEPENDENT FISCAL OFFICE January 21, 2020 The Honorable Members of the Pennsylvania Performance-Based Budget Board: Act 48 of 2017 specifies that the Independent Fiscal Office (IFO) shall “review agency performance-based budget information and develop an agency performance-based budget plan for agencies subject to a per- formance-based budget review.” This Hits: 47 |
PBB_2021_PSP_REPORT_ADDENDUM.pdf717) 230-8293 | contact@ifo.state.pa.us INDEPENDENT FISCAL OFFICE March 25, 2021 The Honorable Members of the Pennsylvania Performance-Based Budget Board: Act 48 of 2017 specifies that the Independent Fiscal Office (IFO) shall “review agency performance-based budget information and develop an agency performance-based budget plan for agencies subject to a per- formance-based budget Hits: 45 |
PBB_2020_PEMA_REPORT.pdf8293 | contact@ifo.state.pa.us INDEPENDENT FISCAL OFFICE January 16, 2020 The Honorable Members of the Pennsylvania Performance-Based Budget Board: Act 48 of 2017 specifies that the Independent Fiscal Office (IFO) shall “review agency performance-based budget information and develop an agency performance-based budget plan for agencies subject to a per- formance-based budget review.” This Hits: 45 |
PBB_2022_DLI_REPORT.pdf717) 230-8293 | contact@ifo.state.pa.us INDEPENDENT FISCAL OFFICE January 19, 2022 The Honorable Members of the Pennsylvania Performance-Based Budget Board: Act 48 of 2017 specifies that the Independent Fiscal Office (IFO) shall “review agency performance-based budget information and develop an agency performance-based budget plan for agencies subject to a per- formance-based budget Hits: 44 |
PBB_2020_DEP_Report.pdf120). ___________________________________________________________ - This page intentionally left blank. - INDEPENDENT FISCAL OFFICE January 16, 2020 The Honorable Members of the Pennsylvania Performance-Based Budget Board: Act 48 of 2017 specifies that the Independent Fiscal Office (IFO) shall “review agency performance-based budget information and develop an agency performance-based budget plan for agencies subject to a per- formance-based budget review.” This Hits: 41 |
PBB_2019_Criminal_Justice_Report.pdf120). ___________________________________________________________ - This page intentionally left blank. - INDEPENDENT FISCAL OFFICE January 14, 2019 The Honorable Members of the Pennsylvania Performance-Based Budget Board: Act 48 of 2017 specifies that the Independent Fiscal Office (IFO) shall “review agency performance-based budget information and develop an agency performance-based budget plan for agencies subject to a per- formance-based budget review.” This Hits: 40 |
PBB_2020_DOH_REPORT_Final_Update.pdf8293 | contact@ifo.state.pa.us INDEPENDENT FISCAL OFFICE January 21, 2020 The Honorable Members of the Pennsylvania Performance-Based Budget Board: Act 48 of 2017 specifies that the Independent Fiscal Office (IFO) shall “review agency performance-based budget information and develop an agency performance-based budget plan for agencies subject to a per- formance-based budget review.” This Hits: 37 |
PBB_2020_DOS_REPORT.pdf8293 | contact@ifo.state.pa.us INDEPENDENT FISCAL OFFICE January 16, 2020 The Honorable Members of the Pennsylvania Performance-Based Budget Board: Act 48 of 2017 specifies that the Independent Fiscal Office (IFO) shall “review agency performance-based budget information and develop an agency performance-based budget plan for agencies subject to a per- formance-based budget review.” This Hits: 36 |
PBB_2019_PCCD_Report.pdf120). ___________________________________________________________ - This page intentionally left blank. - INDEPENDENT FISCAL OFFICE January 14, 2019 The Honorable Members of the Pennsylvania Performance-Based Budget Board: Act 48 of 2017 specifies that the Independent Fiscal Office (IFO) shall “review agency performance-based budget information and develop an agency performance-based budget plan for agencies subject to a per- formance-based budget review.” This Hits: 35 |
PBB_2019_DGS_Report.pdf120). ___________________________________________________________ - This page intentionally left blank. - INDEPENDENT FISCAL OFFICE January 14, 2019 The Honorable Members of the Pennsylvania Performance-Based Budget Board: Act 48 of 2017 specifies that the Independent Fiscal Office (IFO) shall “review agency performance-based budget information and develop an agency performance-based budget plan for agencies subject to a per- formance-based budget review.” This Hits: 35 |
PBB_2023_DDAP_REPORT.pdf717) 230-8293 | contact@ifo.state.pa.us INDEPENDENT FISCAL OFFICE January 3, 2023 The Honorable Members of the Pennsylvania Performance-Based Budget Board: Act 48 of 2017 specifies that the Independent Fiscal Office (IFO) shall “review agency performance-based budget information and develop an agency performance-based budget plan for agencies subject to a performance-based budget review Hits: 33 |
TC_2021_Entertainment_Economic_Enhancement_Program.pdfus | (717) 230-8293 | contact@ifo.state.pa.us INDEPENDENT FISCAL OFFICE March 25, 2021 The Honorable Members of the Performance-Based Budget Board and Chairs of the House and Senate Finance Committees: Act 48 of 2017 requires the Independent Fiscal Production and Keystone Special Development Zones Tax Credits. The act requires the IFO to submit tax credit reviews to the Performance-Based Budget Board and the Chairs of the House and Senate Finance Committees and to make the reports available to Hits: 31 |
PBB_2023_EO_REPORT.pdfstate.pa.us - This page intentionally left blank. - INDEPENDENT FISCAL OFFICE January 3, 2023 The Honorable Members of the Pennsylvania Performance-Based Budget Board: Act 48 of 2017 specifies that the Independent Fiscal Office (IFO) shall “review agency performance-based budget information and develop an agency performance-based budget plan for agencies subject to a performance-based budget review Hits: 29 |
PBB_2021_DMVA_REPORT_ADDENDUM.pdf717) 230-8293 | contact@ifo.state.pa.us INDEPENDENT FISCAL OFFICE March 25, 2021 The Honorable Members of the Pennsylvania Performance-Based Budget Board: Act 48 of 2017 specifies that the Independent Fiscal Office (IFO) shall “review agency performance-based budget information and develop an agency performance-based budget plan for agencies subject to a per- formance-based budget Hits: 29 |
PBB_2022_AGRICULTURE_REPORT.pdf717) 230-8293 | contact@ifo.state.pa.us INDEPENDENT FISCAL OFFICE January 19, 2022 The Honorable Members of the Pennsylvania Performance-Based Budget Board: Act 48 of 2017 specifies that the Independent Fiscal Office (IFO) shall “review agency performance-based budget information and develop an agency performance-based budget plan for agencies subject to a per- formance-based budget Hits: 28 |
PBB_2022_AGING_REPORT_Addendum.pdf717) 230-8293 | contact@ifo.state.pa.us INDEPENDENT FISCAL OFFICE January 19, 2022 The Honorable Members of the Pennsylvania Performance-Based Budget Board: Act 48 of 2017 specifies that the Independent Fiscal Office (IFO) shall “review agency performance-based budget information and develop an agency performance-based budget plan for agencies subject to a performance-based budget review Hits: 28 |
PBB_2023_DOR_REPORT.pdf717) 230-8293 | contact@ifo.state.pa.us INDEPENDENT FISCAL OFFICE January 3, 2023 The Honorable Members of the Pennsylvania Performance-Based Budget Board: Act 48 of 2017 specifies that the Independent Fiscal Office (IFO) shall “review agency performance-based budget information and develop an agency performance-based budget plan for agencies subject to a performance-based budget review Hits: 27 |
PBB_2023_DCNR_REPORT.pdf717) 230-8293 | contact@ifo.state.pa.us INDEPENDENT FISCAL OFFICE January 3, 2023 The Honorable Members of the Pennsylvania Performance-Based Budget Board: Act 48 of 2017 specifies that the Independent Fiscal Office (IFO) shall “review agency performance-based budget information and develop an agency performance-based budget plan for agencies subject to a performance-based budget review Hits: 27 |
PBB_2019_DOBS_Report.pdf120). ___________________________________________________________ - This page intentionally left blank. - INDEPENDENT FISCAL OFFICE January 14, 2019 The Honorable Members of the Pennsylvania Performance-Based Budget Board: Act 48 of 2017 specifies that the Independent Fiscal Office (IFO) shall “review agency performance-based budget information and develop an agency performance-based budget plan for agencies subject to a per- formance-based budget review.” This Hits: 26 |
PBB_2023_PID_REPORT.pdf717) 230-8293 | contact@ifo.state.pa.us INDEPENDENT FISCAL OFFICE January 3, 2023 The Honorable Members of the Pennsylvania Performance-Based Budget Board: Act 48 of 2017 specifies that the Independent Fiscal Office (IFO) shall “review agency performance-based budget information and develop an agency performance-based budget plan for agencies subject to a performance-based budget review Hits: 25 |
PBB_2019_JCJC_Report.pdf120). ___________________________________________________________ - This page intentionally left blank. - INDEPENDENT FISCAL OFFICE January 14, 2019 The Honorable Members of the Pennsylvania Performance-Based Budget Board: Act 48 of 2017 specifies that the Independent Fiscal Office (IFO) shall “review agency performance-based budget information and develop an agency performance-based budget plan for agencies subject to a per- formance-based budget review.” This Hits: 25 |
PBB_2022_PHMC_REPORT.pdf717) 230-8293 | contact@ifo.state.pa.us INDEPENDENT FISCAL OFFICE January 19, 2022 The Honorable Members of the Pennsylvania Performance-Based Budget Board: Act 48 of 2017 specifies that the Independent Fiscal Office (IFO) shall “review agency performance-based budget information and develop an agency performance-based budget plan for agencies subject to a per- formance-based budget Hits: 23 |
2013_special_report_funding_and_reforming_public_employee_retirement_systems.pdf6 - B.Increase Funding1. One obvious way in which to increase funding would be to enhance the pension systems’ investment performance. Returns on the investment of pension plan assets represent the largest single source of income for the funding of plan benefits. Favorable investment experience, in which investment performance exceeds the investment return assumptions set by the trustees of the retirement system results in actuarial gains that can then Hits: 23 |
TC_2021_Resource_Enhancement_and_Protection.pdfus | (717) 230-8293 | contact@ifo.state.pa.us INDEPENDENT FISCAL OFFICE March 25, 2021 The Honorable Members of the Performance-Based Budget Board and Chairs of the House and Senate Finance Committees: Act 48 of 2017 requires the Independent Fiscal Production and Keystone Special Development Zones Tax Credits. The act requires the IFO to submit tax credit reviews to the Performance-Based Budget Board and the Chairs of the House and Senate Finance Committees and to make reports available to the Hits: 20 |
TC_2021_Neighborhood_Assistance_Program.pdfus | (717) 230-8293 | contact@ifo.state.pa.us INDEPENDENT FISCAL OFFICE April 19, 2021 The Honorable Members of the Performance-Based Budget Board and Chairs of the House and Senate Finance Committees: Act 48 of 2017 requires the Independent Fiscal Production and Keystone Special Development Zone Tax Credits. The act requires the IFO to submit tax credit reviews to the Performance-Based Budget Board and the Chairs of the House and Senate Finance Committees and to make reports available to the Hits: 20 |
TC_2022_Educational_Tax_Credits.pdfus | (717) 230-8293 | contact@ifo.state.pa.us INDEPENDENT FISCAL OFFICE January 24, 2022 The Honorable Members of the Performance-Based Budget Board and Chairs of the House and Senate Finance Committees: Act 48 of 2017 requires the Independent Fiscal Reclamation, Brewers’ and Mixed-Use Development Tax Credits. The act requires the IFO to submit tax credit reviews to the Performance-Based Budget Board and the Chairs of the House and Senate Finance Committees and to make reports available to the Hits: 19 |
2007_divestment_complete_report.pdfInvestors . . . . . . . . . . . . . . . . . . . . . . . . . . . . 31 – Precedence for Future Restrictive Investment Mandates . . . . . 31 Part V. Divestment Costs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 33 – Current Total Market Value . . . . . . . . . . . . . . . . . . . . . . . . . . 33 – Investment Performance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 34 – Increased Risk and Volatility . . . . . . . . . . . . . . . . . . . . . . . . . 35 – Effect of Divestment on Indirect Investments . . . . . . . . . . . . . 36 – Impact on Assumed Investment Returns and Employer Subsequently, increased contributions from public employers, and ultimately the taxpayers, will be required to offset the effects of diminished investment performance. • Compulsory divestment places the selling fund at a competitive disadvantage vis-a-vis buyers, who will take advantage of the Hits: 18 |
TC_2020_Keystone_Innovation_Zone_Tax_Credit.pdf230-8293 | contact@ifo.state.pa.us INDEPENDENT FISCAL OFFICE January 21, 2020 The Honorable Members of the Performance-Based Budget Board and Chairs of the House and Senate Finance Committees: Act 48 of 2017 requires the Independent Fiscal Office (IFO and Bone Marrow Donation Tax Credits. The act requires the IFO to submit tax credit reviews to the Performance-Based Budget Board and the Chairs of the House and Senate Finance Committees and to make the reports avail- able to the Hits: 17 |
TC_2019_New_Jobs_Tax_Credit_Report.pdfNo.120). ___________________________________________________________ - This page intentionally left blank. - INDEPENDENT FISCAL OFFICE January 14, 2019 The Honorable Members of the Performance-Based Budget Board and Chairs of the House and Senate Finance Committees: Act 48 of 2017 requires the Independent Fiscal Office (IFO Production and Jobs Creation tax credits. The act requires the IFO to submit tax credit reviews to the Performance- Based Budget Board and the Chairs of the House and Senate Finance Committees and to make reports available to the public on Hits: 17 |
TC_2019_Historic_Preservation_Tax_Credit_Report.pdfNo.120). ___________________________________________________________ - This page intentionally left blank. - INDEPENDENT FISCAL OFFICE January 14, 2019 The Honorable Members of the Performance-Based Budget Board and Chairs of the House and Senate Finance Committees: Act 48 of 2017 requires the Independent Fiscal Office (IFO Production and Jobs Creation Tax Credits. The act requires the IFO to submit tax credit reviews to the Performance- Based Budget Board and the Chairs of the House and Senate Finance Committees and to make reports available to the public on Hits: 17 |
TC_2023_Manufacturing.pdfus | (717) 230-8293 | contact@ifo.state.pa.us INDEPENDENT FISCAL OFFICE January 3, 2023 The Honorable Members of the Performance-Based Budget Board and Chairs of the House and Senate Finance Committees: Act 48 of 2017 requires the Independent Fiscal Jobs and Investment, and Waterfront Development Tax Credits. The act requires the IFO to submit tax credit reviews to the Performance-Based Budget Board and the Chairs of the House and Senate Finance Committees and to make reports available to the Hits: 16 |
TC_2020_Research and Development Tax Credit.pdf230-8293 | contact@ifo.state.pa.us INDEPENDENT FISCAL OFFICE January 21, 2020 The Honorable Members of the Performance-Based Budget Board and Chairs of the House and Senate Finance Committees: Act 48 of 2017 requires the Independent Fiscal Office (IFO and Bone Marrow Donation Tax Credits. The act requires the IFO to submit tax credit reviews to the Performance-Based Budget Board and the Chairs of the House and Senate Finance Committees and to make reports available to the public on Hits: 16 |
BEFC_Survey_Results_FINAL.pdffrom school year (SY) 2012-13 and separated districts into four groups based on their SY 2012-13 school performance profile (SPP) score: (1) high performance (SPP 90.0%+), (2) good (80.0- 89.9%), (3) proficient (70.0-79.9%) and (4) low performance (<70.0% Hits: 16 |
TC_2021_Video_Game_Production.pdfus | (717) 230-8293 | contact@ifo.state.pa.us INDEPENDENT FISCAL OFFICE March 25, 2021 The Honorable Members of the Performance-Based Budget Board and Chairs of the House and Senate Finance Committees: Act 48 of 2017 requires the Independent Fiscal Production and Keystone Special Development Zone Tax Credits. The act requires the IFO to submit tax credit reviews to the Performance-Based Budget Board and the Chairs of the House and Senate Finance Committees and to make the reports available to Hits: 15 |
TC_2020_Mobile Telecommunications Broadband Investment Tax Credit.pdf230-8293 | contact@ifo.state.pa.us INDEPENDENT FISCAL OFFICE January 16, 2020 The Honorable Members of the Performance-Based Budget Board and Chairs of the House and Senate Finance Committees: Act 48 of 2017 requires the Independent Fiscal Office (IFO and Bone Marrow Donation Tax Credits. The act requires the IFO to submit tax credit reviews to the Performance-Based Budget Board and the Chairs of the House and Senate Finance Committees and to make the reports avail- able to the Hits: 15 |
TC_2019_Film_Production_Tax_Credit_Report.pdfNo.120). ___________________________________________________________ - This page intentionally left blank. - INDEPENDENT FISCAL OFFICE January 14, 2019 The Honorable Members of the Performance-Based Budget Board and Chairs of the House and Senate Finance Committees: Act 48 of 2017 requires the Independent Fiscal Office (IFO Production and Jobs Creation tax credits. The act requires the IFO to submit tax credit reviews to the Performance- Based Budget Board and the Chairs of the House and Senate Finance Committees and to make reports available to the public on Hits: 15 |
Presentation-2018-10-Performance-Based-Budget-Board.pdfOverview of Act 48 Implementation October 15, 2018 Presentation to the Performance-Based Budget Board Act 48 Overview Act 48 of 2017 directs the IFO to develop performance-based budget (PBB) plans for each agency under the Governor’s jurisdiction and conduct tax credit reviews every fifth year Hits: 15 |
TC_2023_Waterfront_Development.pdfus | (717) 230-8293 | contact@ifo.state.pa.us INDEPENDENT FISCAL OFFICE January 3, 2023 The Honorable Members of the Performance-Based Budget Board and Chairs of the House and Senate Finance Committees: Act 48 of 2017 requires the Independent Fiscal Jobs and Investment, and Waterfront Development Tax Credits. The act requires the IFO to submit tax credit reviews to the Performance-Based Budget Board and the Chairs of the House and Senate Finance Committees and to make reports available to the Hits: 14 |
TC_2020_Organ and Bone Marrow Donation Tax Credit.pdf230-8293 | contact@ifo.state.pa.us INDEPENDENT FISCAL OFFICE January 16, 2020 The Honorable Members of the Performance-Based Budget Board and Chairs of the House and Senate Finance Committees: Act 48 of 2017 requires the Independent Fiscal Office (IFO Bone Mar- row Donation Tax Credits. The act requires the IFO to submit tax credit reviews to the Performance-Based Budget Board and the Chairs of the House and Senate Finance Committees and to make the reports avail- able to the Hits: 14 |
TC_2021_Keystone_Special_Development_Zones_Update.pdfintentionally left blank. - General Findings and Recommendations | Page 3 INDEPENDENT FISCAL OFFICE July 29, 2021 The Honorable Members of the Performance-Based Budget Board and Chairs of the House and Senate Finance Committees: Act 48 of 2017 requires the Independent Fiscal Production and Keystone Special Development Zones Tax Credits. The act requires the IFO to submit tax credit reviews to the Performance-Based Budget Board and the Chairs of the House and Senate Finance Committees and to make reports available to the Hits: 13 |
Summary_Tax_Credit_Reviews_Oct_2023.pdfthe various Pennsylvania state tax credits every five years. 1 The IFO must submit all tax credit reviews to the Performance-Based Budget (PBB) Board for approval and make the reports available to the public on the IFO website. The act specifies that the IFO shall develop a tax credit plan for all tax credits subject to review. The plan includes performance measures and economic outcomes or performance benchmarks against similar state programs or similar programs of other states or jurisdictions. In Hits: 13 |
TC_2023_PA_Resource_Manufacturing.pdfus | (717) 230-8293 | contact@ifo.state.pa.us INDEPENDENT FISCAL OFFICE January 3, 2023 The Honorable Members of the Performance-Based Budget Board and Chairs of the House and Senate Finance Committees: Act 48 of 2017 requires the Independent Fiscal Jobs and Investment, and Waterfront Development Tax Credits. The act requires the IFO to submit tax credit reviews to the Performance-Based Budget Board and the Chairs of the House and Senate Finance Committees and to make reports available to the Hits: 12 |
2002_dbdc_report.pdfbetween and/or a right to convert to either a DB or DC plan, including any liability for poor investment performance in a DC plan and possible contract impairment issues.” – House Resolution No. 266 The Commission requested the assistance of the market after it reached its high in 1987, and bailed out after the market crashed soon thereafter”). Liability for Poor Performance This transfer of the risk of poor performance of investments from the employer to the individual, with the inevitable result Hits: 12 |
IFO_Hearing_Materials_Feb_22_2022.pdfthe IFO include the preparation of monthly reports on the state economy and revenue collections, periodic revenue estimates, publication of performance-based budgeting and tax credit evaluation reports, coordinating analyses and issuing actuarial notes for legislation that proposes changes to public of the Appropriations Committees, the Secretary of the Budget and the Secretary of Revenue to discuss economic trends and revenue performance. May 20 Provide an initial revenue estimate for the upcoming fiscal year. June 20 Provide a final revenue estimate for Hits: 11 |
TC_2023_Rural_Jobs_Investment.pdfus | (717) 230-8293 | contact@ifo.state.pa.us INDEPENDENT FISCAL OFFICE January 3, 2023 The Honorable Members of the Performance-Based Budget Board and Chairs of the House and Senate Finance Committees: Act 48 of 2017 requires the Independent Fiscal Jobs and Investment, and Waterfront Development Tax Credits. The act requires the IFO to submit tax credit reviews to the Performance-Based Budget Board and the Chairs of the House and Senate Finance Committees and to make reports available to the Hits: 10 |
TC_2022_Mixed_Use_Development.pdfus | (717) 230-8293 | contact@ifo.state.pa.us INDEPENDENT FISCAL OFFICE January 24, 2022 The Honorable Members of the Performance-Based Budget Board and Chairs of the House and Senate Finance Committees: Act 48 of 2017 requires the Independent Fiscal Reclamation, Brewers’ and Mixed-Use Development Tax Credits. The act requires the IFO to submit tax credit reviews to the Performance-Based Budget Board and the Chairs of the House and Senate Finance Committees and to make reports available to the Hits: 10 |
TC_2022_Coal_Refuse_Energy_and_Reclamation.pdfus | (717) 230-8293 | contact@ifo.state.pa.us INDEPENDENT FISCAL OFFICE January 24, 2022 The Honorable Members of the Performance-Based Budget Board and Chairs of the House and Senate Finance Committees: Act 48 of 2017 requires the Independent Fiscal Reclamation, Brewers’ and Mixed-Use Development Tax Credits. The act requires the IFO to submit tax credit reviews to the Performance-Based Budget Board and the Chairs of the House and Sen- ate Finance Committees and to make reports available to Hits: 10 |
TC_2022_Brewers.pdfus | (717) 230-8293 | contact@ifo.state.pa.us INDEPENDENT FISCAL OFFICE January 24, 2022 The Honorable Members of the Performance-Based Budget Board and Chairs of the House and Senate Finance Committees: Act 48 of 2017 requires the Independent Fiscal Reclamation, Brewers’ and Mixed-Use Development Tax Credits. The act requires the IFO to submit tax credit reviews to the Performance-Based Budget Board and the Chairs of the House and Senate Finance Committees and to make the reports available to Hits: 10 |
Revenue-Estimate-Performance_2022_10.pdfus | www.ifo.state.pa.us Staff Acknowledgements Rachel Flaugh, Revenue Analyst I - This page intentionally left blank. - Revenue Estimate Performance | Page 1 This document examines the performance of General Fund revenue estimates made by the Independent Fiscal Office (IFO) since its inception (September 2011) through June 2022 Hits: 10 |
Revenue_Estimate_Performance_2023_08.pdfus | www.ifo.state.pa.us Staff Acknowledgements Rachel Flaugh, Fiscal Analyst I - This page intentionally left blank. - Revenue Estimate Performance | Page 1 This document examines the performance of General Fund revenue estimates made by the Independent Fiscal Office (IFO) from fiscal year (FY) 2012-13 through FY Hits: 9 |
Revenue-Estimate-Performance-2021-09.pdfus | www.ifo.state.pa.us Staff Acknowledgements Rachel Flaugh, Revenue Analyst I - This page intentionally left blank. - Revenue Estimate Performance | Page 1 This document examines the performance of General Fund revenue estimates made by the Independent Fiscal Office (IFO) since its inception (September 2011) through June 2021 Hits: 9 |
Revenue-Estimate-Performance-2020-09.pdfthe Act of Nov. 23, 2010 (P.L.1269, No.120). ___________________________________________________________ - This page intentionally left blank. - Revenue Estimate Performance | Page 1 This document examines the performance of General Fund revenue estimates made by the Independent Fiscal Office (IFO) since its inception (September 2011) through June 2020. That time Hits: 9 |
IFO_Hearing_Packet_Feb2019.pdfhelpful as you consider the fiscal year 2019-20 budget proposal. For the upcoming year, new statutory duties related to performance-based budgeting (PBB) and tax credit reviews will engage much of the office’s resources. A schedule for PBB plans Funded Ratios for PSERS and SERS .................................................................................... 22 Minimum Wage Rates by State ............................................................................................. 23 Corporate Net Income Tax by State .................................................................................... 24 Performance-Based Budgeting (PBB) and Tax Credit Schedule ............................ 25 Performance-Based Budgeting (PBB) Timeline in First Year .................................. 26 1 Independent Fiscal Hits: 9 |
PBB_Board_Hearing_Apr_27_2021.pdfPBB Overview and Agency Highlights PennDOT Human Services (Part 2) Presentation to the Performance-Based Budget Board April 27, 2021 Performance-Based Budgeting (PBB) Year 3 Agencies ▪ PennDOT | Human Services (Part 2) ▪ Pennsylvania State Police | Military and Veterans Affairs Alternative budget Hits: 8 |
ACN_SB1_A01354_A01558_2017_06_03a.pdfA-6. A variable employee contribution rate, known as the “shared-risk contribu- tion rate,” is determined by the investment performance of each System. The computed shared- risk rate is added to the basic contribution rate of each membership class if establishes the Public Pension Management and Asset Investment Review Commission. The commission is responsible for the study of (1) the performance of current investment strategies and procedures of the Systems, comparing realized rates of return to established benchmarks consider- ing the Hits: 8 |
Revenue-Estimate-Performance-2019-07.pdfthe Act of Nov. 23, 2010 (P.L.1269, No.120). ___________________________________________________________ - This page intentionally left blank. - Revenue Estimate Performance | Page 1 This document examines the performance of General Fund revenue estimates made by the Independent Fiscal Office (IFO) since its inception (September 2011) through May 2018. That time Hits: 7 |
IFO_Hearing_Packet_Feb2018.pdfconsider the fiscal year 2018-19 budget proposal. For the upcoming year, the fulfillment of new statutory duties related to performance-based budgeting (PBB) and tax credit reviews will engage much of the office’s resources. A schedule for PBB and of the Appropriations Committees, the Secretary of the Budget and the Secretary of Revenue to discuss economic trends and revenue performance. May 1 Provide an initial revenue estimate for the upcoming fiscal year. June 15 Provide a final revenue estimate for Hits: 7 |
Economic_and_Revenue_Update_2020.pdfbe helpful as you consider the FY 2020-21 budget proposal. For the upcoming year, new statutory duties related to performance-based budgeting (PBB) and tax credit reviews will engage much of the office’s resources. A schedule for PBB plans of the Appropriations Committees, the Secretary of the Budget and the Secretary of Revenue to discuss economic trends and revenue performance. May 20 Provide an initial revenue estimate for the upcoming fiscal year. June 20 Provide a final revenue estimate for Hits: 7 |
Single-Use Plastics Report-2020_06.pdfIFO in May 2019. Primary responsibilities include forecasting corporate net income tax revenues, business- and economic-related research, performance-based budgeting initiatives and various other projects including the Special Education Funding Formula survey. Mathieu Taylor, Fiscal Analyst II Mr. Taylor joined 2018. Primary responsibilities include state and local pension anal- ysis, retiree healthcare and other post-employment benefits and performance-based budgeting for agencies such as the Department of Community and Economic Development. Jesse Bushman, Revenue Analyst II Mr. Bushman joined the Hits: 6 |
SERS_Stress_Test_Impact_Analysis_2023.pdfone simulation and one sensitivity analysis. The report separates scenarios into three groups based on risk factors: • Investment Risk - Investment performance exceeds or fails to meet the assumed rate of return (6.875% net of fees). • Demographic Risk - Demographic factors, such in parentheses correspond to the numbering convention used in the SERS report). They are as follows: • Scenario 1: Future Investment Performance (2.1) - Investment returns are 2% above or below the baseline for the first ten years, then revert to the Hits: 6 |
SERS_Stress_Test_Impact_Analysis_2022.pdfsimulation and one sensitivity analysis. The report separates sce- narios into three groups based on risk factors: • Investment Risk - Investment performance exceeds or fails to meet the assumed rate of return (6.875% net of fees for years after calendar year in parentheses correspond to the numbering convention used in the SERS report). They are as follows: • Scenario 1: Future Investment Performance (2.1) - Investment returns are 2% above or below the baseline for the first ten years, then revert to the Hits: 6 |
Budget Hearings Packet.pdfauthorizing legislation and undertaken two new statutory duties. First, the IFO published a report that outlined options for outcome-based performance measurement of executive agencies and created a prototype report to solicit feedback on its usefulness. A built-out version of of the Appropriations Committees, the Secretary of the Budget and the Secretary of Revenue to discuss economic trends and revenue performance. May 1 Provide an initial revenue estimate for the upcoming fiscal year. June 15 Provide a final revenue estimate for Hits: 6 |
Budget Hearings Packet- Web Version.pdfauthorizing legislation and undertaken two new statutory duties. First, the IFO published a report that outlined options for outcome-based performance measurement of executive agencies and created a prototype report to solicit feedback on its usefulness. A built-out version of of the Appropriations Committees, the Secretary of the Budget and the Secretary of Revenue to discuss economic trends and revenue performance. May 1 Provide an initial revenue estimate for the upcoming fiscal year. June 15 Provide a final revenue estimate for Hits: 6 |
About IFOState University. Karen Maynard Fiscal Analyst III Ms. Maynard joined the IFO in 2012 and her primary responsibilities include leading performance-based budgeting projects, coordinating forecasts of department expenditures and forecasting the Lottery Fund. Other responsibilities include working on special projects as needed. Jesse Bushman Fiscal Analyst II Mr. Bushman joined the IFO in 2016 and his primary responsibilities include leading performance-based budgeting projects and forecasting revenues from the gross receipts and inheritance taxes. Other responsibilities include working on projects related Hits: 6 |
PBB_Board_Hearing_Request_May_4_2021.pdf17120 The Honorable Jen Swails Secretary of the Budget 238 Main Capitol Building Harrisburg, PA 17120 Dear Members of the Performance-Based Budget Board: Enclosed please find a regional breakdown of the Neighborhood Assistance Program (NAP) and a county breakdown of the Resource Enhancement and Protection Program (REAP) Tax Credits as requested as follow-up during the Performance-Based Budget Board hearing on April 26, 2021. If you have any questions, please feel free to contact me. Sincerely Hits: 5 |
IFO_Hearing_Materials_March_2023.pdfthe IFO include the preparation of monthly reports on the state economy and revenue collections, periodic revenue estimates, publication of performance-based budgeting and tax credit evaluation reports, coordinating analyses and issuing actuarial notes for legislation that proposes changes to public of the Appropriations Committees, the Secretary of the Budget and the Secretary of Revenue to discuss economic trends and revenue performance. May 20 Provide an initial revenue estimate for the upcoming fiscal year. June 20 Provide a final revenue estimate for Hits: 5 |
IFO_Hearing_8-30-2017.pdfBudget. Currently, there are several bills that would further expand the duties of the office to include: the publication of performance-based budget reports, analysis of proposed regulations that are “economically significant,” and cost-benefit analyses using the Results First model of the Appropriations Committees, the Secretary of the Budget and the Secretary of Revenue to discuss economic trends and revenue performance. May 1 Provide an initial revenue estimate for the upcoming fiscal year. June 15 Provide a final revenue estimate for Hits: 5 |
TC_Board_Hearing_Jan_10_2023.pdfAnnual Tax Credit Reviews Manufacturing PA Resource Manufacturing Rural Jobs and Investment Waterfront Development Presentation to the Performance-Based Budget Board January 10, 2023 Tax Credit Reviews for Year 5 Statute: Did the tax credits accomplish their legislative 000 wage + $25,000 benefits: max credit offsets 4% cost in 1 year ▪ DCED should compile and track detailed program performance metrics if tax credit is retained (e.g., cost of provided benefits, jobs retained at 3 and 5 years) January Hits: 4 |
RB-2016-02.pdfprovides grants to non‐pro Ðit organizations that have a signi Ðicant interest in tourism development. Partnerships for Regional Economic Performance $11,880 $11,880 Provides grants to economic development service pro‐ viders that may co‐locate, develop partnership agree‐ ments or create a coordinated and performance‐based service delivery system that ensures inquiries or leads from a business or potential entrepreneur are referred to, and acted Hits: 4 |
PBB_Board_Hearing_Apr_26_2021.pdfTax Credit Reviews Presentation to the Performance-Based Budget Board April 26, 2021 Tax Credit Reviews for Year 3 Theme: improving the lives of PA residents ▪ NAP similar program ▪ Many provide a list of qualified nonprofits on program website ▪ Most provide credit at a rate of 50% Performance data difficult to compile ▪ DCED collects significant amount of project performance data ▪ Unable to measure outcomes due to nature of Hits: 4 |
PBB-Board-Hearing-Jan-22-2020.pdfPBB Overview and Agency Highlights PEMA Dept of State Dept of Environmental Protection Presentation to the Performance-Based Budget Board January 22, 2020 Performance Based Budgeting (PBB) Alternative budget framework driven by performance metrics Output | efficiency | outcomes | benchmarks Link funding levels to Hits: 4 |
HAC testimony Feb 2019.pdfrecent economic and revenue trends. I would also like to make some brief comments regarding the IFO’s recently published performance-based budget (PBB) plans and tax credit reviews. Revenue Update for FY 2018-19 Through January, actual revenues exceed the the state unemployment rate will remain low and service industry jobs will comprise the majority of net new jobs created. Performance Based-Budgeting (PBB) and Tax Credit Reviews In January 2019, the IFO submitted five PBB plans and three tax credit Hits: 4 |
Economic_and_Revenue_Update_2021.pdfthe IFO include the preparation of monthly reports on the state economy and revenue collections, periodic revenue estimates, publication of performance-based budgeting and tax credit evaluation reports, coordinating analyses and issuing actuarial notes for legislation that proposes changes to public of the Appropriations Committees, the Secretary of the Budget and the Secretary of Revenue to discuss economic trends and revenue performance. May 20 Provide an initial revenue estimate for the upcoming fiscal year. June 20 Provide a final revenue estimate for Hits: 4 |
DOC_Performance_Measures_Final.pdfPA 2016-17 Performance Measures D e p a r t m e n t o f c o r r e c t of the House and Senate Appropriations Committees: In September 2016, the Independent Fiscal Office (IFO) released a report entitled “Using Performance Measures in the State Budget.” In that report, the office described the systems and processes that certain states use to Hits: 4 |
ACN_SB1071_A10803_text.pdfb) Duties.--The duties of the Public Pension Management and Asset Investment Review Commission are as follows: (1) Study the performance of current investment strategies and procedures of the Public School Employees' Retirement System, comparing realized rates of return to established findings online, including findings about: (i) Assets. (ii) Returns. (iii) Financial managers. (iv) Consultants. (v) Requests for proposals. (vi) Investment performance measured against benchmarks. (5) Report its findings and recommendations to the Governor and the General Assembly within six months of Hits: 4 |
Tax_Credit_and_PBB_Overview_2019-01-24.pdfTax Credit Reviews Historic Preservation Film Production New Jobs Presentation to the Performance-Based Budget Board January 24, 2019 Act 48 of 2017 – Tax Credit Duties The tax credit review: Identify the Could it be more effectively implemented by other methods? The tax credit plan: Statute: evaluate tax credits and develop performance measures. IFO: (1) findings, (2) recommendations and (3) key decision points. Year 1 review schedule: Historic Preservation Tax Hits: 3 |
TaxCredit and PBB Overview- 2019-01-24.pptxTax Credit Reviews Historic Preservation Film Production New Jobs Presentation to the Performance-Based Budget Board January 24, 2019 1/24/2019 0 Act 48 of 2017 – Tax Credit Duties The tax credit intent? ▪ Could it be more effectively implemented by other methods? The tax credit plan: ▪ Statute: evaluate tax credits and develop performance measures. ▪ IFO: (1) findings, (2) recommendations and (3) key decision points. Year 1 review schedule: ▪ Historic Preservation Tax Credit (HPTC Hits: 3 |
TaxCredit and PBB Overview- 2019-01-24.pdfTax Credit Reviews Historic Preservation Film Production New Jobs Presentation to the Performance-Based Budget Board January 24, 2019 Act 48 of 2017 – Tax Credit Duties The tax credit review: Identify the Could it be more effectively implemented by other methods? The tax credit plan: Statute: evaluate tax credits and develop performance measures. IFO: (1) findings, (2) recommendations and (3) key decision points. Year 1 review schedule: Historic Preservation Tax Hits: 3 |
perez ppt.pdfPérez NCSL Fiscal Affairs Program Director Overview – State fiscal conditions continue to improve, but at a very slow pace. – Revenue performance is solid – Expenditures are stable – Budget gaps are few in FY 2012 Overview (continued) – States face ongoing budget challenges. – State Tennessee do not levy a personal income tax, but tax interest income and dividends. Tennessee did provide information on the performance of the personal income tax. FY 2012 Personal Income Tax Collections (Compared with the Latest Estimate) Above Target, 17 (1 Hits: 3 |
PBB_Board_Hearing_Jan_24_2022.pdfPBB Overview and Agency Highlights Department of Labor & Industry PA Historical and Museum Commission Presentation to the Performance-Based Budget Board January 24, 2022 Performance-Based Budgeting (PBB) Year 4 Agencies ▪ Dept. of Labor & Industry (DLI) | PA Historical & Museum Commission (PHMC) ▪ PA Dept. of Aging Hits: 3 |
PBB_Board_Hearing_Jan_09_2023.pdfOverview and Agency Highlights Department of Conservation & Natural Resources (DCNR) Department of Drug and Alcohol Programs (DDAP) Presentation to the Performance-Based Budget Board January 9, 2023 Performance-Based Budgeting (PBB) Year 5 Agencies (final cycle year, schedule must be updated) ▪ Dept. of Conservation & Natural Resources (DCNR) ▪ Dept Hits: 3 |
PBB_Board_Amend_03_09_22.pdf2022 Performance-Based Budget Board Hearing for the Dept. of Education Motion to Amend and Resubmit At this time, pursuant to Section of Act 48 of 2017, I am making a motion to direct the IFO to amend and resubmit the 2022 performance-based budget review for the Department of Education by May 16, 2022 with the following recommendations: 1. Include citations for Hits: 3 |
PBB-Board Hearing Jan 23 2020.pptxOrgan and Bone Marrow Donation Mobile Telecom Broadband Research and Development Keystone Innovation Zones DCED PBB Highlights Presentation to the Performance-Based Budget Board January 23, 2020 2/27/2020 0 Tax Credit Reviews - Overview Tax credit reviews have four objectives effectively implemented by other methods? ▪ Costs to provide the tax credit Reviews should include a Tax Credit Plan ▪ I nclude performance metrics (outcome, efficiency) ▪ Benchmarks against programs in other states ▪ Specific recommendations to improve operation and efficiency January 23, 2020 1 Hits: 3 |
PBB Board Hearing Agenda- January 2019.pdfBuilding Harrisburg, PA 17120 (717) 787-1349 Phone www.senatorbrowne.com John Guyer, Executive Director Tom Horan, Assistant Executive Director Performance-Based Budget Board Hearings Tuesday, January 22, 2019 Hearing Room 1, North Office Building 401 North Street, Harrisburg, PA 10 Building Harrisburg, PA 17120 (717) 787-1349 Phone www.senatorbrowne.com John Guyer, Executive Director Tom Horan, Assistant Executive Director Performance-Based Budget Board Hearings Wednesday, January 23, 2019 Hearing Room 1, North Office Building 401 North Street, Harrisburg, PA 10 Hits: 3 |
Demographics_Outlook_2020.pdfKaren Maynard, Budget Analyst II Ms. Maynard joined the IFO in March 2012. Primary responsibilities include leading various performance- based budgeting projects, coordinating the forecast of department expenditures and working on special projects that pertain to education, demographics, minimum wage and II Ms. Rompalo joined the IFO in June 2016. Primary responsibilities include leading the Department of Human Services performance-based budgeting reports, forecasting sales and use tax revenues, working on special projects regarding human services and demographics, and assisting in the Hits: 3 |
Revenue_Estimate_Performance_Dec_2017.pdfL.1269, No.120). ___________________________________________________________ - This page intentionally left blank. - Independent Fiscal Office | Page 1 This document examines the performance of General Fund revenue estimates made by the Independent Fiscal Office (IFO) since its inception (September 2011) through June 2017. That time year. A preliminary estimate for the following fiscal year is also released. The text that follows discusses the performance of IFO General Fund revenue estimates for the past five fiscal years, and describes the factors that caused forecast errors. As a Hits: 2 |
Revenue-Estimate-Performance-2018-07.pdfL.1269, No.120). ___________________________________________________________ - This page intentionally left blank. - Independent Fiscal Office | Page 1 This document examines the performance of General Fund revenue estimates made by the Independent Fiscal Office (IFO) since its inception (September 2011) through May 2018. That time year. A preliminary estimate for the following fiscal year is also released. The text that follows discusses the performance of IFO General Fund revenue estimates for the past six fiscal years, and describes the factors that caused forecast errors. As a Hits: 2 |
REU-2020-02.pdfCNIT collections were $83.7 million for February, which was $12.9 million (18.2 percent) above estimate. The monthly performance was a product of higher than anticipated final payments ($7.3 million, 15.2 percent) and estimated payments ($5.6 driven by stronger than expected escheats revenues. Revenue and Economic Update Independent Fiscal Office | February 2020 FY 2019-20 Revenue Performance Through February February Collections FY Collections Actual Estimate $ Diff Actual Estimate $ Diff General Fund $2,167.5 $2,064.6 Hits: 2 |
RB_2022_06_Act_105_Pre-Funding_Impact.pdfto employers other than Penn State and PASSHE. Estimates of employer contributions will change year-to-year based on system performance and actuarial assumptions. However, the increased asset base from the advance payments could result in a negative impact if projected State and PASSHE to lock in a combined $1.0 billion in total savings over 30 years; however, actual system performance and actuarial assumptions over this time period will affect all SERS employers, as illustrated in Tables 4 and 5. Staff Hits: 2 |
PBB_TaxCredits_Schedule_2022_Update.pdfPerformance-Based Budgeting and Tax Credit Review Schedule Year Performance-Based Budgets 1 Corrections Board of Probation and Parole PA Commission on Crime & Delinquency Juvenile Court Judges’ Commission Banking and Hits: 2 |
PBB_Board_Hearing_Apr_28_2021.pdfPBB Overview and Agency Highlights Pennsylvania State Police Department of Military & Veterans Affairs Presentation to the Performance-Based Budget Board April 28, 2021 Pennsylvania State Police (PSP) April 28, 2021 1 PSP Actual Spend and FTEs (FY 50 states | TX & CA larger ▪ FY 20-21 enacted budget includes $13.265 million for EAP and administrative MFEP costs ▪ Performance measures to monitor include: • Re-enlistment retention rates • % PANG members (EAP) and dependents (MFEP) using benefits April 28, 2021 10 Hits: 2 |
PBB-Overview-2019-01-22.pdfPBB Overview and Recommendations DOC/PBPP JCJC PCCD Presentation to the Performance-Based Budget Board January 22, 2019 Act 48 of 2017 - PBB Duties IFO shall develop PBB plans for all agencies. Statute gives significant discretion. Shall evaluate each agency program or line item. Shall develop performance metrics (efficiency, output, outcome). Agencies shall submit information to IFO. Descriptions of programs, agency mission and goals. Any Hits: 2 |
PBB-Board-Hearing-Agenda-January 2019-Revised.pdfBuilding Harrisburg, PA 17120 (717) 787-1349 Phone www.senatorbrowne.com John Guyer, Executive Director Tom Horan, Assistant Executive Director Performance-Based Budget Board Hearings Tuesday, January 22, 2019 Hearing Room 1, North Office Building 401 North Street, Harrisburg, PA 10 Building Harrisburg, PA 17120 (717) 787-1349 Phone www.senatorbrowne.com John Guyer, Executive Director Tom Horan, Assistant Executive Director Performance-Based Budget Board Hearings Thursday, January 24, 2019 Hearing Room 1, North Office Building 401 North Street, Harrisburg, PA 10 Hits: 2 |
Official_Revenue_Estimate_Methodology_2023_06.pdfgrowth of bank equity capital and recent revenue collections. Values for 2024 are informed by year-to-date stock market performance for Pennsylvania banks. The tax rate increased from 0.89% to 0.95% effective January 1, 2017. The mutual thrift share of state GDP over the next five years. Values for 2023 are informed by year-to-date stock market performance and corporate profit growth. Interest Income: Interest income is primarily a function of the average growth rates of various Hits: 2 |
MRU_2023_06.pdfTreasury collections. CNIT collections for June reached $1.02 billion, $259.6 million (34.3%) more than expected. The monthly performance was the result of strong estimated payments (+$215.2 million, 36.0%). For the fiscal year, CNIT collections were $6 entire overage was the result of Treasury collections (+$435.7 million). Monthly Revenue Update June 2023 FY 2022-23 Revenue Performance Through June June Collections Fiscal Year Collections Actual Estimate $ Diff Actual Estimate $ Diff General Fund $3,686.1 $3,400 Hits: 2 |
MRU_2021_04.pdfof delayed annual payments in May. Corporate net income tax (CNIT) revenues reached $478.5 million in April. The monthly performance was the result of higher than anticipated final payments (+$193.8 million, 92.3%) and estimated payments (+$24.7 million to higher than expected escheats collections (+$41.6 million, 23.5%). Monthly Revenue Update April 2021 FY 2020-21 Revenue Performance Through April April Collections Fiscal Year Collections Actual Estimate $ Diff Actual Estimate $ Diff General Fund $3,962.4 $4,239 Hits: 2 |
MRU_2021_01.pdfcorporate net income tax (CNIT) collections reached $146.0 million, largely meeting the January projection (0.1 percent). The monthly performance was due to higher than anticipated estimated payments ($4.6 million, 6.8 percent) and lower than expected final payments related to repayment of loan principal under the PA First program. Monthly Revenue Update January 2021 FY 2020-21 Revenue Performance Through January January Collections Fiscal Year Collections Actual Estimate $ Diff Actual Estimate $ Diff General Fund $2,658.3 $2,904 Hits: 2 |
MRU_2020_11.pdfin July 2019. CNIT collections for November were $138.3 million, which was $72.4 million above estimate. The monthly performance was due to higher than anticipated final and estimated payments. FYTD CNIT collections also outperform the forecast ($261.6 million remaining portion of the FY 2020-21 budget in January 2021. Monthly Revenue Update November 2020 FY 2020-21 Revenue Performance Through November November Collections Fiscal Year Collections Actual Estimate $ Diff Actual Estimate $ Diff General Fund $2,338.5 $2,247 Hits: 2 |
MRU-2022-06.pdfCNIT revenues reached $970.0 million in June which exceeded the estimate by $335.9 million (53.0%). The monthly performance was due to higher than expected estimated (+$294.6 million, 58.0%) and final (+$41.3 million, 32.7%) payments other miscellaneous (+$28.1 million) and treasury (+$11.1 million) collections. Monthly Revenue Update June 2022 FY 2021-22 Revenue Performance Through June June Collections Fiscal Year Collections Actual Estimate $ Diff Actual Estimate $ Diff General Fund $4,244.5 $3,526 Hits: 2 |
MRU-2020-3.pdf13.8 percent relative to the prior year. This strength is likely the result of months of strong stock market performance prior to the outbreak. Gaming tax collections were impacted by the March closure of all Pennsylvania casinos. The impact was please visit www.ifo.state.pa.us to be added to the IFO’s mailing list. FY 2019-20 Revenue Performance Through March March Collections Fiscal Year Collections Actual Estimate $ Diff Actual Estimate $ Diff General Fund $4,434.9 $4,766 Hits: 2 |
MRU-2020-04.pdfcollections fell significantly short of estimate (-$24.2 million and -$34.2 million, respectively). The IFO assumes that the RTT performance is related to reduced economic activity due to COVID-19 and the INH shortfall is attributable to processing delays as shortfall is expected to be recouped in the current fiscal year. Monthly Revenue Update April 2020 FY 2019-20 Revenue Performance Through April April Collections Fiscal Year Collections Actual Estimate Variance Actual Estimate Variance General Fund $2,180.9 $4,342 Hits: 2 |
IFO_Letter_to_the_SCC.pdfBuilding 2301 North Cameron Street Harrisburg, PA 17110 Dear Secretary Brown: In response to Senator Browne’s directive to develop performance measures for the Resource Enhancement and Protection Program (REAP) Tax Credit, the Independent Fiscal Office (IFO) offers the following guidance implemented during that year and extrapolate those results to all BMPs funded by the REAP Tax Credit. 2. Develop other performance metrics that do not specifically measure pollution reduction, but could be used to evaluate overall program impact over time. Potential Hits: 2 |
IFO_Hearing_Materials_02_2024.pdfof the Appropriations Committees, the Secretary of the Budget and the Secretary of Revenue to discuss economic trends and revenue performance. May 20 Provide an initial revenue estimate for the upcoming fiscal year. June 20 Provide a final revenue estimate for approved collective bargaining agreements, (3) provide an economic analysis of any revenue proposals included in the Executive Budget, (4) publish performance-based budgeting reports for executive agencies, (5) publish tax credit review reports, (6) dynamic modeling and (7) at the request Hits: 2 |
IFO - Economic and Budget Outlook - January 2012.pdfoutput (i.e., gross state product) or total state income (i.e., personal income). These larger series reflect the overall performance of the economy and also serve as a “default” growth rate. When revenue and expenditure projections are depicted graphically relative due date of the inheritance tax return largely mutes the effect of changes in economic conditions on tax collections. The performance of financial markets and overall asset growth will, over time, have a more direct impact on inheritance tax collections than Hits: 2 |
House Budget Hearing Request.pdf2015 are enclosed. (Please refer to Tables A and B.) Representative Briggs asked about the number of people working on performance measures in Washington State. The Washington State Institute for Public Policy (WSIPP) website indicates that the office has 22 professional S. Census Bureau compiles expenditure data by state. The Census defines “expenditure” as 1 “Budgeting Processes Spotlight: How States Use Performance Data,” The National Association of State Budget Officers (August 2015). See https://higherlogicdownload.s3.amazonaws.com/NASBO/9d2d2db1-c943-4f1b- Hits: 2 |
FTA_Presentation_Oct_24_2022.pdflegislators ▪ Bi-partisan vs non-partisan Duties span a wide range of issues: ▪ Revenue estimates (how much revenues are available?) ▪ Performance based budgeting | Tax credit reviews ▪ Special Studies: property tax reform, natural gas, minimum wage October 24, 2022 1 Act 48 Tax Credit Reviews Statute: Did the tax credits accomplish their legislative intent? ▪ Submit reviews to Performance-Based Budget Board ▪ Annual legislative hearing | Administrating agency included ▪ Reports available on the IFO website Key Points ▪ Goals and purposes Hits: 2 |
Budget_Hearing_Background_Feb2016.pdfof the Appropriations Committees, the Secretary of the Budget and the Secretary of Revenue to discuss economic trends and revenue performance. May 1 Provide an initial revenue estimate for the current fiscal year and subsequent fiscal year. June 15 Provide a U.S. Bureau of Economic Analysis and U.S. Bureau of Labor Statistics. (7) State Economic Growth Rate Comparison Revenue Performance Through January Through January, CNIT estimated payments running weak; CNIT finals and PIT quarterlies running strong. Based on trends through Hits: 2 |
2020 PBB Agenda.pdfPerformance‐Based Budget Board Hearings Wednesday, January 22, 2020 Hearing Room 1, North Office Building 401 North Street, Harrisburg, PA 9 Department of Environmental Protection Ramez Ziadeh, Executive Deputy Secretary, DEP Darrin Bodner, Executive Deputy Secretary, DEP 12:00 pm Adjournment Performance‐Based Budget Board Hearings Thursday, January 23, 2020 Hearing Room 1, North Office Building 401 North Street, Harrisburg, PA 9 Hits: 2 |
2013 Appropriation Hearings Background Information.pdfof the Appropriations Committees, the Secretary of the Budget and the Secretary of Revenue to discuss economic trends and revenue performance. May 1 Provide a preliminary revenue estimate for the remainder of the current fiscal year and the succeeding fiscal year reports highlighting the latest economic releases and revenue trends. In addition, the office publishes a quarterly report that reviews the performance of its own revenue estimates. Special reports are prepared at various times throughout the year. All reports published by the Hits: 2 |
2001_hr266.pdfperiodic benefit enhancements or COLAs; and 19 WHEREAS, Under DC plans, benefits are indeterminable, 20 benefits can decrease with investment performance, subsequent 21 COLAs are not granted, the member may lack investment experience 22 and the death or disability benefits are or a right to 17 convert to either a DB or DC plan, including any liability 18 for poor investment performance in a DC plan and possible 19 contract impairment issues. 20 (5) An analysis of any changes in the fiduciary Hits: 2 |
TC_Board_Hearing_Jan_24_2022.pdfAnnual Tax Credit Reviews Mixed-Use Development Brewers’ Coal Refuse Energy and Reclamation Educational Presentation to the Performance-Based Budget Board January 24, 2022 Tax Credit Reviews for Year 4 Statute: Did the tax credits accomplish their legislative Hits: 1 |
Tax_Credit_and_Other_Incentives_2022.pdfPartnerships program, which facilitate on-the-job training and industry cohorts sharing best practices. • Spending on Partnerships for Regional Economic Performance increased by $3.5 million (52%) in FY 2021-22 to $10.2 million. This program supports regional economic development Hits: 1 |
Tax_Credits_and_Other_Incentives_2024.pdfPartnerships program, which facilitate on-the-job training and industry cohorts sharing best practices. • Spending on Partnerships for Regional Economic Performance increased by $0.5 million (5%) to $10.7 million. This program supports regional economic development projects through partnerships with Hits: 1 |
Senate Appropriations Response Letter 3-6-2020.pdf Organic Transition - establishing or transitioning a farm to organic dairy production. Senator Laughlin requested information on the implementation and performance of Qualified Opportunity Zones. The Qualified Opportunity Zones created by the federal Tax Cuts and Jobs Act provide tax benefits Hits: 1 |
REU-2020-01.pdflicenses and fees revenues (-$17.4 million). Revenue and Economic Update Independent Fiscal Office | January 2020 FY 2019-20 Revenue Performance Through January January Collections FY Collections Actual Estimate $ Diff Actual Estimate $ Diff General Fund $3,071.0 $3,089.4 Hits: 1 |
REU-2019-12.pdfdriven by escheat revenues ($87.8 million). Revenue and Economic Update Independent Fiscal Office | December 2019 FY 2019-20 Revenue Performance Through December December Collections FY Collections Actual Estimate $ Diff Actual Estimate $ Diff General Fund $2,907.1 $2,965.6 Hits: 1 |
REU-2019-11.pdfthe payment of fees for gaming licenses. Revenue and Economic Update Independent Fiscal Office | November 2019 FY 2019-20 Revenue Performance Through November November Collections FY Collections Actual Estimate $ Diff Actual Estimate $ Diff General Fund $2,356.5 $2,314.4 Hits: 1 |
REU-2019-10.pdfwhich are $20.2 million under estimate. Revenue and Economic Update Independent Fiscal Office | October 2019 FY 2019-20 Revenue Performance Through October October Collections FY Collections Actual Estimate $ Diff Actual Estimate $ Diff General Fund $2,670.0 $2,526.3 Hits: 1 |
RB_2022_06_PA_Gasoline_Tax.pdfby DOT and may be used to offset the initial program reduction. 8 See the IFO’s Department of Transportation Performance-Based Budget Report. Figure 2 State Gas Tax Revenue and Consumption Source: DOR and various Governor's Executive Budget documents Hits: 1 |
RB_2021_11_Economic_Development_Incentives.pdfprogram. The programs facilitate on-the-job training and industry cohorts sharing best practices. • Spending on Partnerships for Regional Economic Performance decreased by $6.3 million (-48%) from FY 2019-20. This program supports regional economic development projects through partnerships with Hits: 1 |
RB_2021_09_Pension_Outlook.pdfFor year ranges (e.g., 2005-2010), Employer Contribution Rate and State Contributions are averages. System Return is 5-year performance as noted in system CAFR. Unfunded Liability is final year UAL. Calculations by the IFO. 3 Includes $825 million prepayment Hits: 1 |
RB-10-2020-Economic_Development_Incentives.pdfThe programs facilitate on-the-job training and industry cohorts sharing best practices. Spending on Partnerships for Regional Economic Performance increased by $5.0 million over FY 2018-19. This program supports regional economic development projects through partnerships with Local Hits: 1 |
QRR_2015Q2.pdfspecific revenue sources can be found in Table 4. The following text provides a brief overview of the performance of the revenue estimates for the fiscal year, along with a discussion of the major revenue sources. Fiscal Year-End Analysis The Hits: 1 |
QRE_FY14-15.pdfthe recent enactments can be found in the appendix. The quarterly estimates will be used to track the performance of the FY 2014-15 projections throughout the fiscal year. The Independent Fiscal Office will prepare quarterly reports to compare actual collections Hits: 1 |
PSBA_January_19_2022.pdfPensions: determine if actuarial note required prior to further consideration ▪ Property tax: forecasts and analysis depending on requests/data available ▪ Performance Based Budgets (PBB) and Tax Credit reviews ▪ Natural Gas: quarterly production reports, annual impact fee collections January 19, 2022 1 Hits: 1 |
Presentation_Rotary_Club_of_York_7-15-2015.pdfFinancial Reports; PSERS Actuarial Valuations; multiple years. 7/15/2015 10 Sources of Unfunded Liability 45% 25% 29% 1% Investment Performance Benefit Enhancements Employer Funding Deferrals Other PSERS; $35.1 billion as of 6/30/2014 Estimates of the unfunded liabilities Hits: 1 |
Presentation_Phil_Chamber_2-12-2015.pdfYork County School Districts. Other Products and Releases 12.Feb.2015 4 Revenues and Deficits Budget Timelines Year-to-Date Performance Revisions to General Fund Revenues 12.Feb.2015 5 I. Official General Fund Estimates Released. • Independent Fiscal Office: May Hits: 1 |
Presentation_Pension_Town_Hall_3-26-2015.pdfFinancial Reports; PSERS Actuarial Valuations; multiple years. 3/26/2015 10 Sources of Unfunded Liability 45% 25% 29% 1% Investment Performance Benefit Enhancements Employer Funding Deferrals Other PSERS; $35.1 billion as of 6/30/2014 Estimates of the unfunded liabilities Hits: 1 |
Presentation_Harrisburg_Rotary_4-11-2016.pdfCollars 2001 Benefit Expansion 2001‐2002 Recession 4/11/2016 10 Sources of Unfunded Liability 45% 25% 29% 1% Investment Performance Benefit Enhancements Employer Funding Deferrals Other PSERS $37.3 billion UAL as of 6/30/2015 Estimates of the unfunded Hits: 1 |
Presentation-2018-08-PA-State-Association-Boroughs.pdfand Legislative branches. Various mandatory duties. General Fund revenue estimates. Coordinate pension analysis. Analyze wage contracts. Develop Performance-Based Budget plans for agencies. Things the office does not do: Make policy or budget recommendations. Produce separate Hits: 1 |
PICPA_NPG_Presentation_2021_07.pdfotherwise. For year ranges (ex: 2005-10), Employer Contribution Rate and State Contributions are averages. System Return is 5-year performance as noted in system CAFR. Unfunded Liability is final year UAL. Calculations by the IFO. 1 SERS reported on calendar Hits: 1 |
PBB_Board_Hearing_Sept_28_2021.pdfPBB Addendums Updated Keystone Special Development Zone Tax Credit Review Presentation to the Performance-Based Budget Board September 28, 2021 PBB Addendum Requests Pennsylvania Department of Transportation ▪ Activity 12 – Administration: Human Resources measures related Hits: 1 |
PBB_Board_Hearing_Mar_09_2022.pdfPBB Agency Highlights Pennsylvania Department of Education Presentation to the Performance-Based Budget Board March 9, 2022 Pennsylvania Department of Education (PDE) March 9, 2022 1 PDE Actual Spend and FTEs Hits: 1 |
PBB_Board_Hearing_Jan_26_2022.pdfPBB Agency Highlights Pennsylvania Department of Education Department of Agriculture Presentation to the Performance-Based Budget Board January 26, 2022 Pennsylvania Department of Education (PDE) January 26, 2022 1 PDE Actual Spend and FTEs Hits: 1 |
PBB_Board_Hearing_Jan_25_2022.pdfPBB Agency Highlights PA Department of Aging Department of Human Services Presentation to the Performance-Based Budget Board January 25, 2022 PA Department of Aging (PDA) January 25, 2022 1 PDA Actual Spend and FTEs Hits: 1 |
PBB_Board_Hearing_Jan_11_2023.pdfPBB Agency Highlights Pennsylvania Insurance Department (PID) Executive Offices (EO) Presentation to the Performance-Based Budget Board January 11, 2023 Pennsylvania Insurance Department (PID) January 11, 2023 1 PID Actual Spend and FTEs (FY Hits: 1 |
PBB_Board_Hearing_Jan_10_2023.pdfPBB Agency Highlights Department of Revenue (DOR) Presentation to the Performance-Based Budget Board January 10, 2023 Department of Revenue (DOR) January 10, 2023 1 DOR Actual Spend and FTEs (FY Hits: 1 |
PBB-Board-Hearings-Schedule-2019.pdfPerformance-Based Budget Board Hearings Tuesday, January 22, 2019 Wednesday, January 23, 2019 Thursday, January 24, 2019 10:00 A.M Hits: 1 |
NFIB_Presentation.pdfdo. ◦ General Fund revenue estimates (multiple releases). ◦ Five-year budget and economic outlook (November). ◦ Supply actuarial notes for pension legislation. ◦ Performance-based budget reports and tax credit reviews. ◦ Analysis of collective bargaining agreements. ◦ Special studies at request of General Assembly. Dec Hits: 1 |
Newsstand_2018_July.pdfJersey (3.4%), Vir- ginia (3.4%), Delaware (3.3%), Ohio (2.9%) and West Virginia (2.5%). The strong performance for the state was driv- en by robust total wage and salary growth (4.8%), which ranked 10 th in Hits: 1 |
MTR-2019-09.pdffor tax year 2019 will be received. Revenue and Economic Update Independent Fiscal Office | September 2019 FY 2019-20 Revenue Performance Through September September Collections FY Collections Actual Estimate $ Diff Actual Estimate $ Diff General Fund $3,185.0 $3,074.0 Hits: 1 |
MTR-2019-08.pdfin July 2019 but received in June. Revenue and Economic Update Independent Fiscal Office | August 2019 FY 2019-20 Revenue Performance Through August August Collections FY Collections Actual Estimate $ Diff Actual Estimate $ Diff General Fund $2,192.9 $2,125.8 Hits: 1 |
MTR-2019-07.pdf30.4 million received in July 2018. Revenue and Economic Update Independent Fiscal Office | July 2019 FY 2019-20 Revenue Performance Through July July Collections FY Collections Actual Estimate $ Diff Actual Estimate $ Diff General Fund $2,329 n.a. n.a Hits: 1 |
MTR-2019-06.pdfhttp://www.ifo.state.pa.us/download.cfm?file=/Resources/ Documents/MQRE-FY18-19-July.pdf. FY 2018-19 Revenue Performance Through June June Collections FY Collections Actual Estimate $ Diff Actual Estimate $ Diff General Fund $3,079 $3,028 $51 $34 Hits: 1 |
MTR-2019-05.pdfhttp://www.ifo.state.pa.us/download.cfm?file=/Resources/ Documents/MQRE-FY18-19-July.pdf. FY 2018-19 Revenue Performance Through May May Collections FYTD Collections Actual Estimate $ Diff Actual Estimate $ Diff General Fund $2,616 $2,599 $17 $31 Hits: 1 |
MTR-2019-04.pdfhttp://www.ifo.state.pa.us/download.cfm?file=/Resources/ Documents/MQRE-FY18-19-July.pdf. FY 2018-19 Revenue Performance Through April April Collections FYTD Collections Actual Estimate $ Diff Actual Estimate $ Diff General Fund $4,414 $3,905 $509 $29 Hits: 1 |
MTR-2019-03.pdfhttp://www.ifo.state.pa.us/download.cfm?file=/ Resources/Documents/MQRE-FY18-19-July.pdf. FY 2018-19 Revenue Performance Through March March Collections FYTD Collections Actual Estimate $ Diff Actual Estimate $ Diff General Fund $4,553 $4,551 $2 $24 Hits: 1 |
MTR-2019-02.pdfhttp://www.ifo.state.pa.us/download.cfm?file=/ Resources/Documents/MQRE-FY18-19-July.pdf. FY 2018-19 Revenue Performance Through February February Collections FYTD Collections Actual Estimate $ Diff Actual Estimate $ Diff General Fund $2,042 $1,982 $59 $20 Hits: 1 |
MTR-2019-01.pdfhttp://www.ifo.state.pa.us/download.cfm?file=/ Resources/Documents/MQRE-FY18-19-July.pdf. FY 2018-19 Revenue Performance Through January January Collections FYTD Collections Actual Estimate $ Diff Actual Estimate $ Diff General Fund $2,885 $2,984 ($99) $18 Hits: 1 |
MTR-2018-12.pdfhttp://www.ifo.state.pa.us/download.cfm?file=/ Resources/Documents/MQRE-FY18-19-July.pdf. FY 2018-19 Revenue Performance Through December December Collections FYTD Collections Actual Estimate $ Diff Actual Estimate $ Diff General Fund $2,905 $2,824 $81 $15 Hits: 1 |
MTR-2018-11.pdfhttp://www.ifo.state.pa.us/download.cfm?file=/ Resources/Documents/MQRE-FY18-19-July.pdf. FY 2018-19 Revenue Performance Through November November Collections FYTD Collections Actual Estimate $ Diff Actual Estimate $ Diff General Fund $2,337 $2,183 $154 $12 Hits: 1 |
MTR-2018-10.pdfhttp://www.ifo.state.pa.us/download.cfm?file=/ Resources/Documents/MQRE-FY18-19-July.pdf. FY 2018-19 Revenue Performance Through October October Collections FYTD Collections Actual Estimate $ Diff Actual Estimate $ Diff General Fund $2,474 $2,494 ($20) $10 Hits: 1 |
MTR-2018-1.pdf250 Dollar amounts in millions. Estimate refers to IFO official revised estimate published in December 2017. FY 2017-18 Revenue Performance Through January January Collections FYTD Collections MONTHLY ECONOMIC INDICATORS United States Pennsylvania Oct-17 Nov-17 Dec-17 Jan-18 Hits: 1 |
MTR-2018-09.pdfhttp://www.ifo.state.pa.us/download.cfm?file=/ Resources/Documents/MQRE-FY18-19-July.pdf. FY 2018-19 Revenue Performance Through September September Collections FYTD Collections Actual Estimate $ Diff Actual Estimate $ Diff General Fund $3,041 $2,903 $138 $7 Hits: 1 |
MTR-2018-08.pdfhttp://www.ifo.state.pa.us/download.cfm?file=/ Resources/Documents/MQRE-FY18-19-July.pdf. FY 2018-19 Revenue Performance Through August August Collections FYTD Collections Actual Estimate $ Diff Actual Estimate $ Diff General Fund $2,274 $2,220 $54 $4 Hits: 1 |
MTR-2018-07.pdfhttp://www.ifo.state.pa.us/download.cfm?file=/ Resources/Documents/MQRE-FY18-19-July.pdf. FY 2018-19 Revenue Performance Through July July Collections FYTD Collections Actual Estimate $ Diff Actual Estimate $ Diff General Fund $2,238 $2,226 $12 $2 Hits: 1 |
MTR-2018-06.pdfmore information: http://www.ifo.state.pa.us/ download.cfm?file=/Resources/Documents/MQRE_FY17-18_Update.pdf. FY 2017-18 Revenue Performance Through June June Collections FYTD Collections Actual Estimate $ Diff Actual Estimate $ Diff General Fund $3,084 $3,238 ($154) $34 Hits: 1 |
MTR-2018-05.pdfmore information: http://www.ifo.state.pa.us/ download.cfm?file=/Resources/Documents/MQRE_FY17-18_Update.pdf. FY 2017-18 Revenue Performance Through May May Collections FYTD Collections Actual Estimate $ Diff Actual Estimate $ Diff General Fund $2,456 $2,653 ($197) $31 Hits: 1 |
MTR-2018-04.pdfmore information: http://www.ifo.state.pa.us/ download.cfm?file=/Resources/Documents/MQRE_FY17-18_Update.pdf. FY 2017-18 Revenue Performance Through April April Collections FYTD Collections Actual Estimate $ Diff Actual Estimate $ Diff General Fund $3,754 $4,079 ($325) $29 Hits: 1 |
MTR-2018-03.pdfmore information: http://www.ifo.state.pa.us/ download.cfm?file=/Resources/Documents/MQRE_FY17-18_Update.pdf. FY 2017-18 Revenue Performance Through March March Collections FYTD Collections Actual Estimate $ Diff Actual Estimate $ Diff General Fund $4,324 $4,445 ($121) $25 Hits: 1 |
MTR-2018-02.pdf373 Dollar amounts in millions. Estimate refers to IFO official revised estimate published in December 2017. FY 2017-18 Revenue Performance Through February February Collections FYTD Collections MONTHLY ECONOMIC INDICATORS United States Pennsylvania Nov-17 Dec-17 Jan-18 Feb-18 Hits: 1 |
MTR-2017-12.pdfwere received in November, but had originally been projected to occur later in the fiscal year. FY 2017-18 Revenue Performance Through December Diff. w/ Estimate Diff. w/ Last Year Dollar Percent Dollar Percent Actual Estimate General Fund $14,231 $14 Hits: 1 |
MTR-2017-11.pdfand 55 of 2017 and (2) a recent Supreme Court decision on net operating loss deductions. FY 2017-18 Revenue Performance Through November Diff. w/ Estimate Diff. w/ Last Year Dollar Percent Dollar Percent Actual Estimate General Fund $11,414 $11 Hits: 1 |
MTR-2017-10.pdfmore information: http://www.ifo.state.pa.us/download.cfm?file=/ Resources/Documents/MQRE_FY17-18.pdf. FY 2017-18 Revenue Performance Through October Diff. w/ Estimate Diff. w/ Last Year Dollar Percent Dollar Percent Actual Estimate General Fund $9,108 $9 Hits: 1 |
MRU_2024_3.pdfof $795 million were $39 million (+5.1%) higher than expected. Monthly Revenue Update March 2024 FY 2023-24 Revenue Performance Through March March Collections FY Collections Actual Estimate $ Diff Actual Estimate $ Diff General Fund $6,280 $5,982 $298 $32 Hits: 1 |
MRU_2024_2.pdfis likely a temporary timing issue that will reverse in March. Monthly Revenue Update February 2024 FY 2023-24 Revenue Performance Through February February Collections FY Collections Actual Estimate $ Diff Actual Estimate $ Diff General Fund $2,766.3 $2,656.3 Hits: 1 |
MRU_2024_1.pdf250.8%) included $59.0 million in unusual one-time earnings. Monthly Revenue Update January 2024 FY 2023-24 Revenue Performance Through January January Collections FY Collections Actual Estimate $ Diff Actual Estimate $ Diff General Fund $3,908.1 $3,938.4 Hits: 1 |
MRU_2024_04.pdf1%). FYTD revenues are $115 million (+56.2%) higher than expected. Monthly Revenue Update April 2024 FY 2023-24 Revenue Performance Through April April Collections FY Collections Actual Estimate $ Diff Actual Estimate $ Diff General Fund $5,686 $5,643 $43 $38 Hits: 1 |
MRU_2023_12.pdfcoming in at $20.4 million (+62.0%) more than anticipated. Monthly Revenue Update December 2023 FY 2023-24 Revenue Performance Through December December Collections FY Collections Actual Estimate $ Diff Actual Estimate $ Diff General Fund $3,699.6 $3,882.4 Hits: 1 |
MRU_2023_11.pdfmore than anticipated. § Escheats collections outperformed estimate by $16.8 million. Monthly Revenue Update November 2023 FY 2023 -24 Revenue Performance Through November November Collections FY Collections Actual Estimate $ Diff Actual Estimate $ Diff General Fund $3,061.4 $2,982.5 Hits: 1 |
MRU_2023_10.pdfcollections fell short of estimate by $20.1 million (-261.5%). Monthly Revenue Update October 2023 FY 2023-24 Revenue Performance Through October October Collections FY Collections Actual Estimate $ Diff Actual Estimate $ Diff General Fund $3,246.3 $3,129.6 Hits: 1 |
MRU_2023_09.pdffor the month outperformed expectations by $21.6 million (+46.7%). Monthly Revenue Update September 2023 FY 2023-24 Revenue Performance Through September September Collections FY Collections Actual Estimate $ Diff Actual Estimate $ Diff General Fund $4,056.6 $4,220.2 Hits: 1 |
MRU_2023_08.pdf17.3 million) and treasury (+$16.9 million) collections outperformed expectations. Monthly Revenue Update August 2023 FY 2023-24 Revenue Performance Through August August Collections FY Collections Actual Estimate $ Diff Actual Estimate $ Diff General Fund $2,899.4 $2,890.7 Hits: 1 |
MRU_2023_07.pdfgeneral fund balance and interest rates remain at historically high levels. Monthly Revenue Update July 2023 FY 2023-24 Revenue Performance Through July July Collections FY Collections Actual Estimate $ Diff Actual Estimate $ Diff General Fund $2,881.5 n.a. n Hits: 1 |
MRU_2023_05.pdfare $1.07 billion, $331.5 million (45.0%) above estimate. Monthly Revenue Update May 2023 FY 2022-23 Revenue Performance Through May May Collections Fiscal Year Collections Actual Estimate $ Diff Actual Estimate $ Diff General Fund $3,292.2 $3,377 Hits: 1 |
MRU_2023_02.pdfpartially offset by lower than anticipated escheat collections (-$69.0 million). Monthly Revenue Update February 2023 FY 2022-23 Revenue Performance Through February February Collections Fiscal Year Collections Actual Estimate $ Diff Actual Estimate $ Diff General Fund $2,827.8 $2,420 Hits: 1 |
MRU_2022_12.pdfdue to unusually high General Fund balances and rising interest rates. Monthly Revenue Update December 2022 FY 2022-23 Revenue Performance Through December December Collections Fiscal Year Collections Actual Estimate $ Diff Actual Estimate $ Diff General Fund $4,041.8 $3,612 Hits: 1 |
MRU_2022_04.pdf6%) and licenses and fees (+$19.5 million, 14.1%) collections. Monthly Revenue Update April 2022 FY 2021-22 Revenue Performance Through April April Collections Fiscal Year Collections Actual Estimate $ Diff Actual Estimate $ Diff General Fund $6,518.7 $4,514 Hits: 1 |
MRU_2022_03.pdf27.7 million) and licenses and fees (+$14.1 million) collections. Monthly Revenue Update March 2022 FY 2021-22 Revenue Performance Through March March Collections Fiscal Year Collections Actual Estimate $ Diff Actual Estimate $ Diff General Fund $5,557.0 $4,977 Hits: 1 |
MRU_2022_02.pdf25.0 million) and licenses and fees (+$21.6 million) collections. Monthly Revenue Update February 2022 FY 2021-22 Revenue Performance Through February February Collections Fiscal Year Collections Actual Estimate $ Diff Actual Estimate $ Diff General Fund $2,434.3 $2,177 Hits: 1 |
MRU_2021_11.pdf25.9 million) and licenses and fees (+$9.6 million) collections. Monthly Revenue Update November 2021 FY 2021-22 Revenue Performance Through November November Collections Fiscal Year Collections Actual Estimate $ Diff Actual Estimate $ Diff General Fund $6,621.5 $6,373 Hits: 1 |
MRU_2021_10.pdfFund ($13.5 million), which had not occurred in recent years. Monthly Revenue Update October 2021 FY 2021-22 Revenue Performance Through October October Collections Fiscal Year Collections Actual Estimate $ Diff Actual Estimate $ Diff General Fund $2,814.1 $2,580 Hits: 1 |
MRU_2021_09.pdf12.7 million) and licenses and fees (+$9.1 million) revenues. Monthly Revenue Update September 2021 FY 2021-22 Revenue Performance Through September September Collections Fiscal Year Collections Actual Estimate $ Diff Actual Estimate $ Diff General Fund $4,003.1 $3,451 Hits: 1 |
MRU_2021_08.pdfmillion (27.2%) due to other miscellaneous revenues (+$15.8 million). Monthly Revenue Update August 2021 FY 2021-22 Revenue Performance Through August August Collections Fiscal Year Collections Actual Estimate $ Diff Actual Estimate $ Diff General Fund $2,574.3 $2,502 Hits: 1 |
MRU_2021_07.pdfwhile licenses and fees declined by $5.2 million (-33.6%). Monthly Revenue Update July 2021 FY 2021-22 Revenue Performance Through July July Collections Fiscal Year Collections Actual Estimate $ Diff Actual Estimate $ Diff General Fund $2,700.2 n.a Hits: 1 |
MRU_2021_05.pdfnon-tax revenues exceed estimate by $45.4 million (4.3%). Monthly Revenue Update May 2021 FY 2020-21 Revenue Performance Through May May Collections Fiscal Year Collections Actual Estimate $ Diff Actual Estimate $ Diff General Fund $3,947.3 $2,617 Hits: 1 |
MRU_2021_03.pdfand surpass the estimate by 4.7 percent (+$37.3 million). Monthly Revenue Update March 2021 FY 2020-21 Revenue Performance Through March March Collections Fiscal Year Collections Actual Estimate $ Diff Actual Estimate $ Diff General Fund $4,842.7 $4,558 Hits: 1 |
MRU_2021_02.pdf5 million, or $9.8 million (1.4 percent) above estimate. Monthly Revenue Update February 2021 FY 2020-21 Revenue Performance Through February February Collections Fiscal Year Collections Actual Estimate $ Diff Actual Estimate $ Diff General Fund $2,683.8 $2,174 Hits: 1 |
MRU-2023-04.pdfmillion) offset by a shortfall in escheats collections (-$29.8 million). Monthly Revenue Update April 2023 FY 2022-23 Revenue Performance Through April April Collections Fiscal Year Collections Actual Estimate $ Diff Actual Estimate $ Diff General Fund $5,655.7 $5,221 Hits: 1 |
MRU-2023-03.pdfpartially offset by lower than anticipated escheat collections (-$53.8 million). Monthly Revenue Update March 2023 FY 2022-23 Revenue Performance Through March March Collections Fiscal Year Collections Actual Estimate $ Diff Actual Estimate $ Diff General Fund $6,190.3 $5,696 Hits: 1 |
MRU-2023-01.pdfpartially offset by lower than anticipated escheat collections (-$61.9 million). Monthly Revenue Update January 2023 FY 2022-23 Revenue Performance Through January January Collections Fiscal Year Collections Actual Estimate $ Diff Actual Estimate $ Diff General Fund $3,565.7 $3,532 Hits: 1 |
MRU-2022-11.pdfdue to unusually high General Fund balances and rising interest rates. Monthly Revenue Update November 2022 FY 2022-23 Revenue Performance Through November November Collections Fiscal Year Collections Actual Estimate $ Diff Actual Estimate $ Diff General Fund $2,753.5 $2,882 Hits: 1 |
MRU-2022-10.pdf7 million) and fines, penalties and interest (-$2.2 million) collections. Monthly Revenue Update October 2022 FY 2022-23 Revenue Performance Through October October Collections Fiscal Year Collections Actual Estimate $ Diff Actual Estimate $ Diff General Fund $3,124.9 $2,848 Hits: 1 |
MRU-2022-09.pdfmillion, also largely the result of treasury collections (+$62.0 million). Monthly Revenue Update September 2022 FY 2022-23 Revenue Performance Through September September Collections Fiscal Year Collections Actual Estimate $ Diff Actual Estimate $ Diff General Fund $4,217.9 $3,795 Hits: 1 |
MRU-2022-08.pdftreasury (+$34.3 million) and other miscellaneous (+$9.7 million) collections. Monthly Revenue Update August 2022 FY 2022 -23 Revenue Performance Through August August Collections Fiscal Year Collections Actual Estimate $ Diff Actual Estimate $ Diff General Fund $2,864.9 $2,761 Hits: 1 |
MRU-2022-07.pdfyear due to an increase in treasury collections (+$14.6 million). Monthly Revenue Update July 2022 FY 2022-23 Revenue Performance Through July July Collections Fiscal Year Collections Actual Estimate $ Diff Actual Estimate $ Diff General Fund $2,696.2 n.a Hits: 1 |
MRU-2022-05.pdf15.4%) and other miscellaneous (+$25.9 million, 0.7%) collections. Monthly Revenue Update May 2022 FY 2021-22 Revenue Performance Through May May Collections Fiscal Year Collections Actual Estimate $ Diff Actual Estimate $ Diff General Fund $3,231.1 $2,772 Hits: 1 |
MRU-2022-01.pdf23.8 million) and licenses and fees (+$21.6 million) collections. Monthly Revenue Update January 2022 FY 2021-22 Revenue Performance Through January January Collections Fiscal Year Collections Actual Estimate $ Diff Actual Estimate $ Diff General Fund $3,589.4 $3,148 Hits: 1 |
MRU-2021-12.pdf27.2 million) and licenses and fees (+$10.7 million) collections. Monthly Revenue Update December 2021 FY 2021-22 Revenue Performance Through December December Collections Fiscal Year Collections Actual Estimate $ Diff Actual Estimate $ Diff General Fund $3,846.0 $3,281 Hits: 1 |
MRU-2021-06.pdffor the fiscal year essentially met estimate at $1.21 billion. Monthly Revenue Update June 2021 FY 2020-21 Revenue Performance Through June June Collections Fiscal Year Collections Actual Estimate $ Diff Actual Estimate $ Diff General Fund $3,768.4 $3,417 Hits: 1 |
MRU-2020-12.pdfremaining portion of the FY 2020-21 budget in January 2021. Monthly Revenue Update December 2020 FY 2020-21 Revenue Performance Through December December Collections Fiscal Year Collections Actual Estimate $ Diff Actual Estimate $ Diff General Fund $3,681.4 $2,907 Hits: 1 |
MRU-2020-10.pdfdue entirely to higher than expected escheats collections (+$19.0 million). Monthly Revenue Update October 2020 FY 2020-21 Revenue Performance Through October October Collections Fiscal Year Collections Actual Estimate $ Diff Actual Estimate $ Diff General Fund $2,592.5 $2,317 Hits: 1 |
MRU-2020-09.pdfrevenue forecast for FY 2020-21 at the end of October. Monthly Revenue Update September 2020 FY 2020-21 Revenue Performance Through September September Collections Fiscal Year Collections Actual Estimate $ Diff Actual Estimate $ Diff General Fund $3,261.7 $2,914 Hits: 1 |
MRU-2020-08.pdfmillion) more than offset by shortfalls in the other revenue categories. Monthly Revenue Update August 2020 FY 2020-21 Revenue Performance Through August August Collections Fiscal Year Collections Actual Estimate $ Diff Actual Estimate $ Diff General Fund $2,548.4 $2,300 Hits: 1 |
MRU-2020-07.pdfeffects of COVID-19 mitigation efforts on the real estate industry. Monthly Revenue Update July 2020 FY 2020-21 Revenue Performance Through July July Collections Fiscal Year Collections Actual Estimate $ Diff Actual Estimate $ Diff General Fund $4,103.9 n.a Hits: 1 |
MRU-2020-06.pdfcollections that will be remitted in FY 2020-21 ($70 million). Monthly Revenue Update June 2020 FY 2019-20 Revenue Performance Through June June Collections Fiscal Year Collections Actual Estimate $ Diff Actual Estimate $ Diff General Fund $2,674.8 $3,220 Hits: 1 |
MRU-2020-05.pdfshortfall is expected to be recouped in the current fiscal year. Monthly Revenue Update May 2020 FY 2019-20 Revenue Performance Through May May Collections Fiscal Year Collections Actual Estimate Variance Actual Estimate Variance General Fund $2,105.6 $2,608 Hits: 1 |
Monthly_Economic_Update_May_2023.pdfDecline by 20% from Prior Year; Listings Remain Flat This economic update uses recent housing market data to assess the performance of the spring housing market, which typically runs from March to July. As the Federal Reserve combats inflation, mortgage rates Hits: 1 |
Monthly_Economic_Update_June_2023.pdfPA Homes Listed for Sale Declined 23.3% in May This update uses recent housing market data to assess the performance of the peak housing market season, which typically runs from March to July. Since January 2022, mortgage rates have nearly Hits: 1 |
Monthly_Economic_Update_April_25_2023.pdfRate Growth Moderates Ahead of Peak 2023 Housing Season This economic update uses recent housing market data to assess the performance of the spring housing market, which typically runs from March through July. As the Federal Reserve combats inflation, mortgage rates Hits: 1 |
mid-year-FY14-15-presentation.pdfin gas prices: SUT and other impacts. • Real wage growth: boost to consumer confidence? FY 2014‐15 General Fund Revenues. • Performance through January. • Revisions to FY 2014‐15 estimate. • Implications for next year. Advance Look at FY 2015‐16 Revenues. 28 Hits: 1 |
MER-2015-06.pdfand an advance estimate for 2014. The growth of real GDP per capita is a useful metric to compare the performance of states because it represents total economic output (adjusted for inflation) and controls for changes in population, which can vary Hits: 1 |
Labor_Market_Update_Aug_2021.pdfstates listed, it is unclear whether that outcome is due to that policy, the composition of its workforce, overall economic performance or a combination of factors. However, it is clear that the states listed are generally underperforming the U.S. and Hits: 1 |
IFO_Revenue_Estimate_2013-14_Mid-Year_Update.pdftaxpayers received dividends or realized capital gains in 2012 instead of 2013 to avoid federal tax increases. Depending on the performance of the Pennsylvania economy in the first six months of 2014, the revisions could prove to be conservative. However, marked Hits: 1 |
IFO_Job_Opportunity_Deputy_Director.pdfand budget projections o Evaluation of public policy programs to improve the effective and efficient use of taxpayer dollars through performance measures • Exhibits exceptional written and oral communication skills • Has experience in managing personnel, policies and projects • Is knowledgeable about federal Hits: 1 |
IFO Five-Year Outlook.pdfto craft policy more effectively and efficiently. Do not want to revisit decisions. Are budget controls necessary? Performance-based measures: output & outcome. The Economic and Budget Outlook Slide 4 15.Nov.2012 Some Conventions Select a base Hits: 1 |
House_State_Gov_Comm_Presentation_August_2021.pdfotherwise. For year ranges (ex: 2005-10), Employer Contribution Rate and State Contributions are averages. System Return is 5-year performance as noted in system CAFR. Unfunded Liability is final year UAL. Calculations by the IFO. 1 SERS reported on calendar Hits: 1 |
GPNP July 10, 2012 final.pdf Annual Revenue Conference (January 31). Two Studies: (1) Sales and Use Tax, (2) Shared Risk Pension Contributions. Performance measures for executive agencies. Establish office web-site. 10.Jul.2012 4 2012 GPNP Conference IFO Role in Budget Hits: 1 |
Five_Year_Outlook_2019.pdfEconomic Outlook | Page 15 Section 3: Economic Outlook Five metrics provide insight that analysts use to gauge the performance of a state economy: (1) real gross domestic product (GDP, excludes inflation), (2) nominal GDP, (3) statewide wages and salaries, (4) the Hits: 1 |
Five_Year_Outlook_2017_Presentation.pdfhave used three methods. Efficiency Initiatives - Lean, TQM, Continuous Improvement. Cost-Benefit Analysis - PEW Results First model. Performance-Based Budgeting (PBB). Act 48 of 2017: New PBB and tax credit review duties. IFO to develop PBB plans Hits: 1 |
EPLC_April_2024.pdfEducation Policy & Leadership Center • Revenue estimates | Economic & demographic trends • Economic analysis of executive revenue proposals • 5-Year Economic & Budget Outlook • Performance-based budgeting | Tax credit reviews • Pension analysis | Dynamic modeling | Economic impact • Analyze impact of collective bargaining agreements Special Studies and Hits: 1 |
EPLC_3_4_2022_update.pdflegislators ▪ Bi-partisan vs non-partisan Duties span a wide range of issues: ▪ Revenue estimates (how much revenues are available?) ▪ Performance based budgeting | Tax credit reviews ▪ Special Studies: property tax reform, natural gas, minimum wage March 4, 2022 2 Today’s Hits: 1 |
EPLC-2-19-21.pdflegislators ▪ Bi-partisan vs non-partisan Duties span a wide range of 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 Hits: 1 |
EPLC Feb 2020 FINAL.pdfpartisan vs non-partisan Duties span a wide range of issues: Revenue 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 Hits: 1 |
Budget_Hearing_Background-Feb2014.pdfof the Appropriations Committees, the Secretary of the Budget and the Secretary of Revenue to discuss economic trends and revenue performance. May 1 Provide an initial revenue estimate for the remainder of the current fiscal year and the succeeding fiscal year Hits: 1 |
BEFC_Response_Letter_12_19_23.pdflet me know. Sincerely, Matthew J. Knittel Director, Independent Fiscal Office 1 Guydish, Mark. Times Leader, “ The state’s School Performance Profile era ends: How did we do? ” October 28, 2017. December 19, 2023 Page 3 SD SPP Scores 90.0% Hits: 1 |
2013-04 Monthly Economic Report.pdfconsumer spending experienced slight gains in February (0.7 percent) and March (0.2 per- cent). Due to the strong performance of the stock and housing markets, consumers may save less since they feel wealthier. The graph below displays the seasonally Hits: 1 |
ReleasesSupplemental Appropriations Act (CRRSA); and American Rescue Plan (ARP). Tags: brief , care , child , research Full Report Older Newer Release Type • Revenue Estimates • Revenue & Economic Update • Performance Budgeting • Energy • Pension Analysis • Property Tax • Wage Contracts • Tax Credit Review • Economics and Other Archives Year: All 2024 2023 2022 Hits: 1 |
Pensionsemployee contribution rate applicable to new members, known as the "shared risk contribution rate," that is tied to the investment performance of each System's pension fund and would be added to the basic contribution rate of each membership class under Hits: 1 |