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Your search for performance returned 185 results.
Revenue Estimate Performance

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

Tags: estimates, performance, revenue

PBB Overview Presentation for PSP and DMVA

IFO 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

Department of Human Services - Part 2

Act 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 Military and Veterans Affairs

Act 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 Transportation

Act 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 Police

Act 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 Performance

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

Tags: estimates, performance, revenue

Revenue Estimate performance

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

09/16/2021

performance-Based Budget Board Hearing Request

The 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 DMVA

IFO 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

Department of Human Services - Part 2

Act 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).

04/21/2021

Department of Military and Veterans Affairs

Act 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.

04/21/2021

Department of Transportation

Act 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.

04/21/2021

Pennsylvania State Police

Act 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.

04/21/2021

Revenue Estimate performance

This 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 DHS

IFO 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 DEP

IFO 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 2

The IFO has posted the agenda for upcoming performance-based budget and tax credit review hearings.

01/21/2020

Department of Human Services - Part 1

Act 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 Development

Act 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 Health

Act 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 Agency

Act 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 State

Act 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 Protection

Act 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 performance

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

07/26/2019

performance-Based Budget Board Hearings Agenda- Revised

The IFO has posted a revised agenda for the upcoming performance-based budget and tax credit review hearings.

01/22/2019

performance-Based Budget Reviews

Click on the hyperlink above to access the five performance-based budget reviews and presentations.

01/18/2019

performance-Based Budget Board Hearings Agenda

The IFO has posted the agenda for upcoming performance-based budget and tax credit review hearings.

01/16/2019

performance-Based Budget Board Hearings Schedule

The IFO has posted the schedule for upcoming performance-based budget and tax credit review hearings.

12/14/2018

performance-Based Budgeting Update

On 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 performance

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

07/25/2018

performance-Based Budget and Tax Credit Review Schedule

The IFO has posted the schedule for upcoming performance-based budgets and tax credit reviews.

01/30/2018

Revenue Estimate performance

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

12/22/2017

Department of Corrections performance Measures

At 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 Budget

Discusses 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 performance

Examination of the performance of IFO revenue estimates for the past four budget cycles (August 2016).

08/12/2016

State Economic Comparison

This 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_PennDOT_REPORT.pdf

717) 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

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PBB_2021_DHS_REPORT.pdf

717) 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

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PBB_2020_DCED_REPORT.pdf

8293 | 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

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PBB_2020_DHS_REPORT_Final_Updated.pdf

8293 | 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

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PBB_2020_PEMA_REPORT.pdf

8293 | 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

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PBB_2020_DEP_Report.pdf

120). ___________________________________________________________ - 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

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PBB_2019_Criminal_Justice_Report.pdf

120). ___________________________________________________________ - 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

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PBB_2020_DOH_REPORT_Final_Update.pdf

8293 | 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

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PBB_2020_DOS_REPORT.pdf

8293 | 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

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PBB_2019_PCCD_Report.pdf

120). ___________________________________________________________ - 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

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PBB_2019_DGS_Report.pdf

120). ___________________________________________________________ - 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

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PBB_2021_PSP_REPORT.pdf

717) 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

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TC_2021_Entertainment_Economic_Enhancement_Program.pdf

us | (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

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PBB_2021_DMVA_REPORT.pdf

717) 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

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Independent Fiscal Office

Independent Fiscal Office IFO • Latest Releases • Data • Calendar • Right-to-Know • About • About IFO • Contact IFO • Email Subscription • Links • Follow on Twitter • • Independent Fiscal Office Revenue Estimates Revenue & Economic Update Performance Budgeting Natural Gas Pension Analysis Property Tax Wage Contracts Tax Credit Review News Stand & Other Featured Releases September 2021 Economic recent articles and reports that provide insight into state or national economic, demographic and fiscal trends. ... (Full Report) Revenue Estimate Performance Revenue Estimates September 16, 2021 This report examines the performance of IFO revenue estimates for the past nine budget cycles

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PBB_2019_DOBS_Report.pdf

120). ___________________________________________________________ - 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

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PBB_2019_JCJC_Report.pdf

120). ___________________________________________________________ - 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

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2013_special_report_funding_and_reforming_public_employee_retirement_systems.pdf

6 - 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

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TC_2021_Resource_Enhancement_and_Protection.pdf

us | (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

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TC_2021_Neighborhood_Assistance_Program.pdf

us | (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

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2007_divestment_complete_report.pdf

Investors . . . . . . . . . . . . . . . . . . . . . . . . . . . . 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

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TC_2020_Keystone_Innovation_Zone_Tax_Credit.pdf

230-8293 | 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

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TC_2019_New_Jobs_Tax_Credit_Report.pdf

No.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

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TC_2019_Historic_Preservation_Tax_Credit_Report.pdf

No.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

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TC_2020_Research and Development Tax Credit.pdf

230-8293 | 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

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TC_2021_Video_Game_Production.pdf

us | (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

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TC_2020_Mobile Telecommunications Broadband Investment Tax Credit.pdf

230-8293 | 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

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TC_2019_Film_Production_Tax_Credit_Report.pdf

No.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

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Presentation-2018-10-Performance-Based-Budget-Board.pdf

Overview 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

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TC_2020_Organ and Bone Marrow Donation Tax Credit.pdf

230-8293 | 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

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2002_dbdc_report.pdf

between 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

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TC_2021_Keystone_Special_Development_Zones.pdf

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 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

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Revenue-Estimate-Performance-2021-09.pdf

us | 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

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Revenue-Estimate-Performance-2020-09.pdf

the 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

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IFO_Hearing_Packet_Feb2019.pdf

helpful 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

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PBB_Board_Hearing_Apr_27_2021.pdf

PBB 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

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ACN_SB1_A01354_A01558_2017_06_03a.pdf

A-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

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Revenue-Estimate-Performance-2019-07.pdf

the 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

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IFO_Hearing_Packet_Feb2018.pdf

consider 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

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Economic_and_Revenue_Update_2020.pdf

be 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

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Single-Use Plastics Report-2020_06.pdf

IFO 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

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Budget Hearings Packet.pdf

authorizing 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

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Budget Hearings Packet- Web Version.pdf

authorizing 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

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PBB_Board_Hearing_Request_May_4_2021.pdf

17120 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

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IFO_Hearing_8-30-2017.pdf

Budget. 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

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About IFO

S. in Finance from Pennsylvania State University. Karen Maynard Budget Analyst II Primary responsibilities at the IFO include leading various performance-based budgeting projects, coordinating the forecasting of various department expenditures and working on special projects pertaining to education, demographics, minimum and reform. Kathleen Hall Revenue Analyst II Primary responsibilities at the IFO include forecasting corporate net income tax revenues and performance-based budgeting initiatives. Prior to joining the IFO, Ms. Hall was employed by Colorado's Office of State Planning and

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RB-2016-02.pdf

provides 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

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PBB_Board_Hearing_Apr_26_2021.pdf

Tax 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

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

PBB 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

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HAC testimony Feb 2019.pdf

recent 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

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Economic_and_Revenue_Update_2021.pdf

the 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

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DOC_Performance_Measures_Final.pdf

PA 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

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ACN_SB1071_A10803_text.pdf

b) 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

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TaxCredit and PBB Overview- 2019-01-24.pptx

Tax 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

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TaxCredit and PBB Overview- 2019-01-24.pdf

Tax 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

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perez ppt.pdf

Pérez 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

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PBB-Board Hearing Jan 23 2020.pptx

Organ 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

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PBB Board Hearing Agenda- January 2019.pdf

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 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

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Demographics_Outlook_2020.pdf

Karen 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

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Releases

recent articles and reports that provide insight into state or national economic, demographic and fiscal trends. Tags: economic , monthly , news , update Full Report Revenue Estimate Performance September 16, 2021 | Revenue Estimates This report examines the performance of IFO revenue estimates for the past nine budget cycles. Tags: estimates , performance , revenue Full Report Pennsylvania Electricity Update September 09, 2021 | News Stand

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Revenue_Estimate_Performance_Dec_2017.pdf

L.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

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Revenue-Estimate-Performance-2018-07.pdf

L.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

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REU-2020-02.pdf

CNIT 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

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PBB_Board_Hearing_Apr_28_2021.pdf

PBB 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

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PBB-Tax-Credits-Schedule-2019-05.pdf

Performance-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

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PBB-Overview-2019-01-22.pdf

PBB 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

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PBB-Board-Hearing-Agenda-January 2019-Revised.pdf

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 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

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MRU_2021_04.pdf

of 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

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MRU_2021_01.pdf

corporate 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

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MRU_2020_11.pdf

in 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

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MRU-2020-3.pdf

13.8 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

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MRU-2020-04.pdf

collections 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

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IFO_Letter_to_the_SCC.pdf

Building 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

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IFO - Economic and Budget Outlook - January 2012.pdf

output (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

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House Budget Hearing Request.pdf

2015 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-

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Budget_Hearing_Background_Feb2016.pdf

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 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

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2020 PBB Agenda.pdf

Performance‐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

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2013 Appropriation Hearings Background Information.pdf

of 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

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2001_hr266.pdf

periodic 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

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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

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REU-2020-01.pdf

licenses 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

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REU-2019-12.pdf

driven 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

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REU-2019-11.pdf

the 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

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REU-2019-10.pdf

which 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

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RB-10-2020-Economic_Development_Incentives.pdf

The 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

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QRR_2015Q2.pdf

specific 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

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QRE_FY14-15.pdf

the 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

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Presentation_Rotary_Club_of_York_7-15-2015.pdf

Financial 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

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Presentation_Phil_Chamber_2-12-2015.pdf

York 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

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Presentation_Pension_Town_Hall_3-26-2015.pdf

Financial 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

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Presentation_Harrisburg_Rotary_4-11-2016.pdf

Collars 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

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Presentation-2018-08-PA-State-Association-Boroughs.pdf

and 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

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PICPA_NPG_Presentation_2021_07.pdf

otherwise. 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

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PBB-Board-Hearings-Schedule-2019.pdf

Performance-Based Budget Board Hearings Tuesday, January 22, 2019 Wednesday, January 23, 2019 Thursday, January 24, 2019 10:00 A.M

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NFIB_Presentation.pdf

do. ◦ 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

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Newsstand_2018_July.pdf

Jersey (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

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MTR-2019-09.pdf

for 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

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MTR-2019-08.pdf

in 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

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MTR-2019-07.pdf

30.4 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

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MTR-2019-06.pdf

http://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

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MTR-2019-05.pdf

http://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

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MTR-2019-04.pdf

http://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

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MTR-2019-03.pdf

http://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

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MTR-2019-02.pdf

http://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

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MTR-2019-01.pdf

http://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

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MTR-2018-12.pdf

http://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

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MTR-2018-11.pdf

http://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

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MTR-2018-10.pdf

http://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

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MTR-2018-1.pdf

250 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

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MTR-2018-09.pdf

http://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

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MTR-2018-07.pdf

http://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

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MTR-2018-06.pdf

more 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

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MTR-2018-05.pdf

more 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

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MTR-2018-04.pdf

more 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

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MTR-2018-03.pdf

more 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

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MTR-2018-02.pdf

373 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

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MTR-2017-12.pdf

were 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

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MTR-2017-11.pdf

and 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

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MTR-2017-10.pdf

more 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

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MRU_2021_08.pdf

million (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

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MRU_2021_07.pdf

while 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

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MRU_2021_05.pdf

non-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

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MRU_2021_03.pdf

and 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

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MRU_2021_02.pdf

5 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

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MRU-2021-06.pdf

for 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

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MRU-2020-12.pdf

remaining 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

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MRU-2020-10.pdf

due 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

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MRU-2020-09.pdf

revenue 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

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MRU-2020-08.pdf

million) 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

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MRU-2020-07.pdf

effects 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

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MRU-2020-06.pdf

collections 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

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MRU-2020-05.pdf

shortfall 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

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mid-year-FY14-15-presentation.pdf

in 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

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MER-2015-06.pdf

and 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

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Labor_Market_Update_Aug_2021.pdf

states 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

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IFO_Revenue_Estimate_2013-14_Mid-Year_Update.pdf

taxpayers 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

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IFO Five-Year Outlook.pdf

to 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

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House_State_Gov_Comm_Presentation_August_2021.pdf

otherwise. 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

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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

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Five_Year_Outlook_2019.pdf

Economic 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

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Five_Year_Outlook_2017_Presentation.pdf

have 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

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EPLC-2-19-21.pdf

legislators ▪ 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

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EPLC Feb 2020 FINAL.pdf

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 28, 2020 2 Today

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Budget_Hearing_Background-Feb2014.pdf

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 remainder of the current fiscal year and the succeeding fiscal year

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2013-04 Monthly Economic Report.pdf

consumer 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

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Pensions

employee 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

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