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Summary of Tax Credit Reviews

New IFO report highlights findings from the 20 tax credit reviews published during the first five-year evaluation cycle (2019 to 2023).

Tags: credit, review, summary, tax

2024 Wage Contracts summary Table

This table provides an up-to-date summary of the recent wage contracts analyzed by the IFO. Additional estimates will be provided after the relevant contract detail has been transmitted to the IFO by the Office of Administration.

02/16/2024

summary and Analysis of Annual SERS Stress Test Report

Pursuant 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

summary of Tax Credit Reviews

New IFO report highlights findings from the 20 tax credit reviews published during the first five-year evaluation cycle (2019 to 2023).

10/10/2023

summary and Analysis of Annual PSERS Stress Test Report

Pursuant 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

summary and Analysis of Annual SERS Stress Test Report

Pursuant 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

2019 Wage Contracts summary Table

This table provides an up-to-date summary of the recent wage contracts analyzed by the IFO. Additional estimates will be provided after the relevant contract detail has been transmitted to the IFO by the Office of Administration.

09/27/2021

Actuarial Note for Senate Bill 1; A01354 and A01558

The actuarial note analyzes a proposal to amend the Public School Employees' Retirement Code and the State Employees' Retirement Code to (1) require most new employees to select one of three new plan design options and (2) make certain actuarial funding changes. The plan design options include two hybrid plans consisting of defined benefit and defined contribution components. The third option is a stand-alone defined contribution plan.  On June 5, 2017 the IFO updated the actuarial note by clarifiying certain language in the summary of Senate Bill 1. A list of the changes is available here. 

06/03/2017

Analysis of Proposal to Replace School Property Taxes: House Bill 76 and Senate Bill 76

This report presents the results from an analysis of House Bill 76 and Senate Bill 76 performed by the Independent Fiscal Office (IFO). The proposed legislation eliminates local school district property taxes and replaces those funds with sales and use and personal income taxes, as well as monies redirected from the Property Tax Relief Fund. Presentation to the Senate Finance Committee on 10/15/2013. Data for the graphs in section 4 of the report that display the annual and cumulative changes in personal income, sales and school property tax collections. Introduction, which contains summary results from the report.

10/01/2013

Pensions

Pensions Database Search Database Search - 25 Results genReport Generate Report • Search Form • Results Bill # Subject Printer # Sponsor Synopsis HR 28 Summary • Early Retirement Benefits • Studies 0268 Merski Would direct the Legislative Budget and Finance Committee to conduct a study on the the early retirement option was offered in one-, five-, and ten-year increments; (2) value in ... read more SB 32 Summary • Miscellaneous 0092 Muth Would require the State Employees; Retirement System (SERS) and the Public School Employees' Retirement System (PSERS) to

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2013_special_report_funding_and_reforming_public_employee_retirement_systems.pdf

develop a legislative proposal to address these vital issues.Sincerely,Anthony W. SalomoneChairman iii Page Letter of Transmittal. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . i Executive Summary.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .vii Part I–Introduction. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 Part II–History of the Crisis. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 Part III–Unfunded Pension Liabilities.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4A. Reduction of Approved Changes to State Public Pension PlansSince 2009. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .173•Appendix 4 – Laura and John Arnold Foundation Policy Perspective,Pension Litigation Summary, January 2013.. . . . . . . . . . . . .157•Appendix 5 – Glossary of Major Actuarial Terms. . . . . . . . . . . . . . . . . . . . . . .231 TABLE OF CONTENTS (CONT’D) Page vii In essence

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ACN_SB1_A01354_A01558_2017_06_03a.pdf

of additional employer contributions to accelerate payments applied to its unfunded accrued liability. See pages 2 to 7 for a summary of the legislation. The analysis of the proposal is summarized below. Impacts are presented in nominal dollars (cash flow) and on the three highest non-overlapping years of service.  Vesting occurs after accumulating 10 years of service credit. Bill Summary A01354 and A01558 to SB 1 3 Independent Fiscal Office  Superannuation, or normal retirement age, is (1) age 65

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2007_divestment_complete_report.pdf

doing business with State sponsors of terrorism). The report presents a general discussion of the issues involved in divestment legislation, summaries of analytical studies of prior economic sanction programs, including their cost and effectiveness, the concerns raised by State involvement in system administration. Sincerely, Paul D. Halliwell Chairman -iii- Table of Contents Letter of Transmittal . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . i Table of Contents . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . iii Executive Summary . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ix Part I. Introduction and Overview . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 – Introduction . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 – Overview . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 Part II. Background and Discussion . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7 – The Retirement Systems

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PBB_2022_PDE_REPORT_Amended.pdf

expenditures divided by average daily membership (ADM). See https://www.education.pa.gov/Teachers - Administrators/School Finances/Finances/AFR Data Summary/Pages/AFR-Data-Summary-Level.aspx and https://www.education.pa.gov/Teachers - Administrators/School Finances/Finances/FinancialDataElements/Pages/default.aspx. 6 See Notes

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2002_drop_report.pdf

the Commonwealth. Sincerely, Paul D. Halliwell Chairman -iii- Table of Contents Letter of Transmittal . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . i Table of Contents . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . iii Executive Summary . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . v Part I. Background and Discussion . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 - Introduction . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 - Most Common Design Features . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 - Deferred Retirement Option Plans and Pennsylvania and Disadvantages for Public Employers . . . 6 - Potential Advantages and Disadvantages for Participants . . . . . . . . 7 Part II. Commission Recommendations . . . . . . . . . . . . . . . . . . . . . . . . . . . 9 Part III. Summary of Proposed Legislation . . . . . . . . . . . . . . . . . . . . . . . 15 Appendix - Draft Legislation to Implement Commission’s Recommendations . . . . . . . . . . . . . . . . . . . . . 19 -v- Executive Summary Deferred Retirement Option Plans

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TC_2020_Research and Development Tax Credit.pdf

Effective Tax Rate .......................................................................................... 15 Research and Development Spending Trends .................................................................................. 16 Research and Development Employment Trends ............................................................................. 17 State Comparison Summary ........................................................................................................... 19 Section 4: Economic Analysis ................................................................................................. 21 Key Findings from RDTC Studies .................................................................................................... 21 Economic Impact........................................................................................................................... 23 Analysis Caveats............................................................................................................................ 27 Section 5: Tax Credit reports and data sources used for this review can be found in the Appendix, along with a brief summary of the recent Grand Jury report related to fraudulent R&D tax credit activity and agency responses. If submitted, written comments provided

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Summary_Tax_Credit_Reviews_Oct_2023.pdf

16 Educational ................................................................................................................................... 17 Mixed-Use Development ................................................................................................................ 18 Manufacturing ............................................................................................................................... 19 Resource Manufacturing ................................................................................................................ 20 Rural Jobs and Investment............................................................................................................. 21 Waterfront Development ................................................................................................................ 22 Summary of Selected Results ................................................................................................. 23 - This page intentionally left blank. - Page 1 Introduction Act 48 of 2017 requires the Independent Fiscal evaluation period. This report summarizes highlights from all 20 of the initial reports. Please note: ▪ The information contained in each summary was accurate as of the date the original report was issued. No effort has been made to update previously published

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IFO - Economic and Budget Outlook - January 2012.pdf

comments can be submitted at www.ifo.state.pa.us. Matthew J. Knittel Director January 2012 Table of Contents Executive Summary ........................................................................................................................ 1 Methodology ................................................................................................................................. 3 The Economic Outlook .................................................................................................................. 6 The Demographic Outlook .......................................................................................................... 15 The Revenue Outlook ................................................................................................................... 17 The Expenditure Outlook ............................................................................................................ 25 Summary ...................................................................................................................................... 34 Technical Appendix ..................................................................................................................... 36 1 Executive Summary This report discusses economic and demographic trends that will impact the Commonwealth’s

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Five_Year_Outlook_2019.pdf

to contact@ifo.state.pa.us. Sincerely, MATTHEW J. KNITTEL Director - This page intentionally left blank. - Contents Executive Summary ............................................................................................................ 1 Section 1: Introduction ....................................................................................................... 3 Section 2: Demographic Outlook ......................................................................................... 5 Trends by Age Group ...................................................................................................... 5 Pennsylvania Population Distribution ................................................................................ 7 Dependency Ratios Decline 6: Fiscal Outlook ................................................................................................... 51 Appendix .......................................................................................................................... 55 Demographics ...............................................................................................................55 Economics .....................................................................................................................56 Revenues ......................................................................................................................60 Expenditures .................................................................................................................61 Other Funds ..................................................................................................................62 Executive Summary | Page 1 Executive Summary This report examines the demographic, economic, revenue and expenditure trends that will affect the Commonwealth’s fiscal condition

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index.cfm

includes data on the state budget, revenue proposals, economy, revenues, demographics and other miscellaneous topics. ... (Full Report) 2024 Wage Contracts Summary Table Wage Contracts February 16, 2024 This table provides an up-to-date summary of the recent wage contracts analyzed by the IFO. Additional estimates will be provided after the relevant contract detail has

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Single-Use Plastics Report-2020_06.pdf

can be directed to khall@ifo.state.pa.us. - This page intentionally left blank. - Table of Contents Executive Summary .................................................................................................................. 1 Section 1: Introduction ............................................................................................................. 3 Scope ............................................................................................................................................. 3 Motivation for Single-Use Plastics Regulation ..................................................................................... 3 Section 2: Regulatory Policy Scenarios ..................................................................................... 7 Policy Options Majority Leader’s Office ...................................................... 66 Appendix D: Stakeholder Meetings and Submissions ........................................................................ 68 - This page intentionally left blank. - Executive Summary | Page 1 Executive Summary Act 20 of 2019 requires the Independent Fiscal Office (IFO) to “evaluate the economic impact to the Com-

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SERS_Stress_Test_Impact_Analysis_2023.pdf

conduct three types of analyses based on published industry guidelines: (1) scenario, (2) simulation and (3) sensitivity. 2 The IFO summary must include a calculation of the ratio of projected employer contributions to projected state revenues under the scenario analysis. The to compute the ratio of SERS employer pension contributions to General Fund revenues and (2) SERS baseline projections. The three summary scenarios then follow. The analysis concludes with results from the Simulation (2.4) and Sensitivity (2.5) Analyses submitted by

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SERS_Stress_Test_Impact_Analysis_2022.pdf

conduct three types of analyses based on published industry guidelines: (1) scenario, (2) simulation and (3) sensitivity. 2 The IFO summary must include a calculation of the ratio of projected employer contributions to projected state revenues under the scenario analysis. The compute the ratio of SERS employer pension contributions to General Fund revenues and (2) SERS baseline projec- tions. The three summary scenarios then follow. The analysis concludes with results from the simulation (2.4) and sensitivity (2.5) analyses submitted by

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Revenue-Estimate-2020-05.pdf

campuses. The administration implemented statewide mitigation measures in response to the pandemic and federal emergency declaration. A brief summary of the timeline is as follows: 2  March 16: Pennsylvania schools close for 10 days and bars and restaurants close for and surrounding suburban counties where the timeline is more uncertain. Pennsylvania Economic Forecast Table 1.1 displays a summary of the Pennsylvania economic forecast used for this revenue estimate. The forecast assumes that:  Real GDP (real gross domestic product, excludes

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

contributes is based on the con- tracted plan provisions and is expressed principally as a percentage of compensation or salary. Summary of Plan Provisions. PMRS has two standard plans under the statute: one for nonuniformed employees and one for police officers local government may choose any age or service requirement permitted under the applicable statutes. Local Government Contributions. (Cont’d) - 38 - Summary of Plan Provisions. (Cont’d) Disability Retirement – An employee who is unable to engage in any form of gainful employment

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PSERS_Stress_Test_Impact_Analysis_2023.pdf

conduct three types of analyses based on published industry guidelines: (1) scenario, (2) simulation and (3) sensitivity. 2 The IFO summary must include a calculation of the ratio of projected employer contributions to projected state revenues under the scenario analysis. The compute the ratio of PSERS employer pension contributions to General Fund revenues and (2) PSERS baseline pro- jections. The three summary scenarios then follow. The analysis concludes with results from the simulation and sensitivity analyses included in the PSERS report. Methodology

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Official-Revenue-Estimate-2020-06.pdf

campuses. The administration implemented statewide mitigation measures in response to the pandemic and federal emergency declaration. A brief summary of the timeline is as follows: 2  March 16: Pennsylvania schools close for 10 days and bars and restaurants close for pa.gov/process-to-reopen-pennsylvania/. Economic Outlook | Page 2 Pennsylvania Economic Forecast Table 1.1 displays a summary of the Pennsylvania economic forecast used for this revenue estimate. The forecast assumes that:  Real GDP (real gross domestic product, excludes

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IFO Five-Year Outlook.pdf

of students, inmate population, the MA population and all residents. The Economic and Budget Outlook Slide 5 15.Nov.2012 Summary of Findings 2012-13 2013-14 2014-15 2015-16 2016-17 2017-18 Revenues 28,510 28,745 29  Profit rates are forecasted to exhibit relatively little growth. The Economic and Budget Outlook Slide 50 15.Nov.2012 Summary of Findings The Economic and Budget Outlook Slide 51 15.Nov.2012 2012-13 2013-14 2014-15 2015-16

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Five_Year_Outlook_2023.pdf

be submitted to contact@ifo.state.pa.us. Sincerely, Matthew J. Knittel Director - This page intentionally left blank. - Contents Executive Summary .................................................................................................................. 1 Introduction .............................................................................................................................. 3 Demographic Outlook ............................................................................................................... 5 Components of Population Change ................................................................................................... 6 Dependency Ratios .......................................................................................................................... 6 Focus: Labor Force Trends Among Older ID) ............................................................................................................ 32 Higher Education ........................................................................................................................... 33 All Other Expenditures ................................................................................................................... 34 Fiscal Outlook .......................................................................................................................... 35 Appendix ................................................................................................................................. 39 - This page intentionally left blank. - Executive Summary | Page 1 Executive Summary This report examines the demographic, economic, revenue and expenditure trends that will affect the Commonwealth’s

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Five_Year_Outlook_2020.pdf

submitted to contact@ifo.state.pa.us. Sincerely, Dr. Matthew J. Knittel Director - This page intentionally left blank. - Contents Executive Summary .................................................................................................................. 1 Section 1: Introduction ............................................................................................................. 3 Section 2: Demographic Outlook .............................................................................................. 5 Components of Population Change ................................................................................................... 6 Dependency Ratios .......................................................................................................................... 7 Labor Force Criminal Justice ............................................................................................................................. 37 All Other Expenditures ................................................................................................................... 39 Section 6: Fiscal Outlook ......................................................................................................... 41 Appendix ................................................................................................................................. 43 - This page intentionally left blank. Executive Summary | Page 1 Executive Summary This report examines the demographic, economic, revenue and expenditure trends that will affect the Commonwealth’s

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2000_cost_of_living_adjustments.pdf

adjustments, a brief commentary on the Common- wealth’s past practices with respect to cost-of-living adjustments, and a summary of the survey conducted by the Commission to determine the funding practices in other states that provide cost-of-living Sincerely, Paul D. Halliwell Chairman -iii- TABLE OF CONTENTS Letter of Transmittal . . .. . .. . .. . .. . .. . .. . .. . .. . .. . .. . .. . i Table of Contents . . .. . .. . .. . .. . .. . .. . .. . .. . .. . .. . .. . .. . iii Introduction . . .. . .. . .. . .. . .. . .. . .. . .. . .. . .. . .. . .. . .. . . v Executive Summary . . .. . .. . .. . .. . .. . .. . .. . .. . .. . .. . .. . . vii Part I - General Background and Discussion . . . . . . . . . . . 1 Part II - The Commonwealth’s Past Practice . . . . . . . . . . . . 15 Part III - Discussion of

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TC_2023_Rural_Jobs_Investment.pdf

million in loans (or equivalent equity), plus interest and fees. The final section of this report contains various recommendations. A summary is as follows: ▪ This program would be more effective as a loan program administered by DCED. ▪ Additional funds should not access to capital for business development. Administration DCED administers the RJITC and reviews applications. The text that follows is a summary of the approval process and reporting requirements for rural growth funds, qualified business firms (i.e., investors) and rural businesses

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TC_2023_Manufacturing.pdf

from $4 million in Pennsylvania to $25 million in Oklahoma. The final section of this report contains various recommendations. A summary is as follows: ▪ Policymakers should consider program revisions, reprogram the MTC funding to benefit another more efficient economic development program tax credit and reviews applications on an on-going basis throughout the fiscal year. The text that follows is a summary of the more detailed explanation of the application process contained in the Program Guidelines for the Manufacturing Tax Credit published

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TC_2022_Educational_Tax_Credits.pdf

outlier in this regard. State Comparisons | Page 20 Reports Published by Other States The text that follows provides a brief summary of reports published by states (or on behalf of state agen- cies). It does not include research published by private program. State Comparisons | Page 21 impact on the state budget and the characteristics of scholarship recipients (Iowa) or provide a summary of program data (Arizona). Therefore, the discussion for each state does not follow a standard format. Rather, the summaries provide

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Revenue_Estimate_2021_05.pdf

residents and temporary unemployment compensation (UC) programs expire as scheduled in September. Pennsylvania Economic Forecast Table 1.1 displays a summary of the Pennsylvania economic forecast used for the previous January 2021 estimate (top portion) and the forecast used for this rounding, detail may not sum to total. Growth rates based on the unrounded amounts. Table 2.3 Motor License Fund Summary Estimated 2020-21 Projected 2021-22 Initial Revenue Estimate | Page 20 Table 2.4 displays historical sales and the average

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Revenue-Proposal-Analysis-2020-04.pdf

Tipped Workers ............................................................................................................. 37 Moving from a $12 to $15 per Hour Minimum Wage ........................................................................ 40 Revenue Estimate Comparison ....................................................................................................... 40 Summary ...................................................................................................................................... 41 - This page intentionally left blank. - Introduction | Page 1 Introduction This report provides revenue estimates for the tax and revenue proposals contained n.a. n.a. Total -145 -153 -359 -673 -1,091 Table 1.1 General Fund Revenue Impact Summary Note: Figures in dollar millions. The need for reduced Video Gaming Fund transfers in future years is undetermined at this time. Tax

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RB 2019 RACP.pdf

number and dollar amount of grants awarded by each administration.  The distribution of RACP projects by county.  A summary of debt limit changes to the program.  A discussion of the potential economic impact to local units.  An 65,874 Alaska 8,030 Illinois 61,821 New Jersey 7,395 Source: U.S. Census Bureau, "State Government Finances Summary Table, 2017". Table 5 Gross State Debt and Per Capita Debt Gross Debt Per Capita Debt Note: Dollars in millions

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QRE_FY14-15.pdf

This page intentionally left blank.- Independent Fiscal Office Page 3 Table 3 FY 2014-15 General Fund Revenue Summary ($ millions) 2014 Q3 2014 Q4 2015 Q1 2015 Q2 FY 2014-15 Jul-Sep Oct-Dec Jan-Mar Apr-Jun Projection Total 2 Includes undistributed clearing account. Page 4 Independent Fiscal Office Table 4 FY 2014-15 General Fund Revenue Summary ($ millions) 2014 Q3 2014 Q4 2015 Q1 2015 Q2 FY 2014-15 Jul-Sep Oct-Dec Jan-Mar Apr-Jun Projection Financial

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June_Revenue_Estimate_2021.pdf

residents and temporary unemployment compensation (UC) programs expire as scheduled in September. Pennsylvania Economic Forecast Table 1.1 displays a summary of the Pennsylvania economic forecast used for the previous January 2021 estimate (top portion) and the forecast used for this rounding, detail may not sum to total. Growth rates based on the unrounded amounts. Table 2.3 Motor License Fund Summary Estimated 2020-21 Projected 2021-22 Official Revenue Estimate | Page 20 Table 2.4 displays historical sales and the average

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Five_Year_Outlook_2022.pdf

submitted to contact@ifo.state.pa.us. Sincerely, Dr. Matthew J. Knittel Director - This page intentionally left blank. - Contents Executive Summary............................................................................................................................. 1 Introduction ....................................................................................................................................... 3 Demographic Outlook .......................................................................................................................... 5 Components of Population Change ................................................................................................... 6 Dependency Ratios .......................................................................................................................... 7 Labor Force Participation Rates ........................................................................................................ 8 Impact Education...................................................................................................................................... 35 Criminal Justice ............................................................................................................................. 37 All Other Expenditures ................................................................................................................... 38 Fiscal Outlook ................................................................................................................................... 41 Appendix .......................................................................................................................................... 43 - This page intentionally left blank. - Executive Summary | Page 1 Executive Summary This report examines the demographic, economic, revenue and expenditure trends that will affect the Commonwealth’s

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Five_Year_Outlook_2021.pdf

submitted to contact@ifo.state.pa.us. Sincerely, Dr. Matthew J. Knittel Director - This page intentionally left blank. - Contents Executive Summary ............................................................................................................ 1 Introduction ...................................................................................................................... 3 Demographic Outlook ......................................................................................................... 5 Dependency Ratios ......................................................................................................... 7 Economic Outlook .............................................................................................................. 9 Federal and State Programs ............................................................................................11 Payroll Employment .......................................................................................................12 Education ......................................................................................................................39 Criminal Justice .............................................................................................................41 All Other Expenditures ....................................................................................................42 Fiscal Outlook ................................................................................................................... 45 Appendix .......................................................................................................................... 47 - This page intentionally left blank. Executive Summary | Page 1 Executive Summary This report examines the demographic, economic, revenue and expenditure trends that will affect the Commonwealth’s

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2006_surviving_spouse_healthcare_study.pdf

important issue. Sincerely, Paul D. Halliwell Chairman iii Page Letter of Transmittal . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . i Table of Contents . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . iii Introduction . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . v Executive Summary . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . vii Part I – Retired Employee Health Program . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 Part II – Projected Cost Impact . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13 Part III – Legal, Eligibility and Administrative of Annuitants . . . . . . . . . . . . . . . . . . . . . . . . . 73 Appendix V – State Employees’ Retirement System Administrative Procedures Governing the Survivor Spouse Health Program . . . . . . . . . . . . . . . . . 91 Appendix VI – Summary Description of the Pennsylvania Employees Benefit Trust Fund . . . . . . . . . 97 Appendix VII – 2006 Pennsylvania Employees Benefit Trust Fund Annuitant Healthcare Premium

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Wage_Contracts_PDA.pdf

analysis considers the collective bargaining agreement between the Commonwealth and the Pennsylvania Doctors Alliance (PDA). The attached table provides a summary of the analysis for retroactive costs to fiscal year (FY) 2016-17 and the subsequent two fiscal years. The table material transmitted by the Office of Administration on September 12, 2017. The Office of Administration provided the IFO with a Summary of Changes document that itemized all material changes contained in the contract, and for the purpose of this analysis, the

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Wage Contract SEIU-FINAL.pdf

Act. The IFO submits this analysis to the General Assembly in fulfillment of that obligation. The attached table provides a summary of the analysis for the current fiscal year and subsequent two fiscal years. The table itemizes the cost to the material transmitted by the Office of Administration on September 9, 2016. The Office of Administration provided the IFO with a Summary of Changes document that itemized all material changes contained in the contract, and for the purpose of this analysis, the

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Wage Contract PFBC-FINAL.pdf

the Commonwealth and the Fraternal Order of Police, Conservation Police Officers Lodge 114 (PFBC). 1 The attached table provides a summary of the analysis for the current fiscal year and subsequent two fiscal years. The table itemizes the cost to the material transmitted by the Office of Administration on January 13, 2017. The Office of Administration provided the IFO with a Summary of Changes document that itemized all material changes contained in the contract, and for the purpose of this analysis, the

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Wage Contract AFSCME-FINAL.pdf

Act. The IFO submits this analysis to the General Assembly in fulfillment of that obligation. The attached table provides a summary of the analysis for the current fiscal year and subsequent two fiscal years. The table itemizes the cost to the material transmitted by the Office of Administration on August 30, 2016. The Office of Administration provided the IFO with a Summary of Changes document that itemized all material changes contained in the contract, and for the purpose of this analysis, the

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TC_2021_Resource_Enhancement_and_Protection.pdf

a grant that may be awarded for the same project. The final section of this report contains various recommendations. A summary is as follows: ▪ The SCC should collaborate with the Department of Environmental Protection to estimate the pol- lution reduction resulting data. Section 3 presents background on the Pennsylvania agriculture industry and the Chesapeake Bay Watershed Agreement. It concludes with a summary of various programs that have been implemented at the state and federal level to reduce agricultural pollution in the Chesapeake

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TC_2019_Film_Production_Tax_Credit_Report.pdf

of Community and Economic Development administers the FPTC and reviews applications. 6 The text that follows is a summary of the more detailed description contained in the Program Guidelines for the Film Production Tax Credit (FPTC) published by DCED. 7 Applicants annual cap for the next five fiscal years. Film-Television Production Incentives Across States Table 3 provides a summary comparison of certain FPTC attributes across states. In practice, the incentive can take three forms: a grant, rebate or tax credit. Grants

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Revenue_Proposal_Analysis_2021_04.pdf

Revenue Estimate Methodology ..................................................................................................... 19 Simulation Results ........................................................................................................................ 20 Average Effective Tax Rates on Income Sources ............................................................................ 22 Impact on State Migration .............................................................................................................. 22 Summary ...................................................................................................................................... 24 Raising the Minimum Wage .................................................................................................... 25 Proposal Highlights ....................................................................................................................... 25 Raising the Minimum Wage ........................................................................................................... 26 Minimum Wage Across States ....................................................................................................... 26 Recent 1.37 and 1.64, significantly above the FPL. Overview of Personal Income Tax Data Table 2.2 provides a summary of PIT data for TY 2018. The top portion of the table displays income sources by taxable income level. The

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Revenue_Estimate_2023_06.pdf

dollar millions. Detail may not sum to total. Growth rates based on unrounded amounts. Table 2.3 Motor License Fund Summary Estimated 2022-23Projected 2023-24 Official Revenue Estimate | Page 18 Therefore, the AWP used to calculate the CY 2023 OFT amounts. Instant Tickets includes Scratch Offs and Fast Play. Other includes Keno and Xpress Sports. Table 2.5 Lottery Fund Summary Estimated 2022-23 Projected 2023-24 Official Revenue Estimate | Page 20 Federal Funds Federal funds appropriations confer authority to spend

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Revenue_Estimate_2022_06.pdf

rounding, detail may not sum to total. Growth rates based on the unrounded amounts. Table 2.3 Motor License Fund Summary Estimated 2021-22 Projected 2022-23 Official Revenue Estimate | Page 19 The Lottery Fund Similar to other consumer purchases, Lottery amounts. Instant Tickets includes Scratch Offs and Fast Play. Other includes Keno and Xpress Sports. Table 2.5 Lottery Fund Summary Estimated 2021-22 Projected 2022-23 Official Revenue Estimate | Page 22 Fund expenditures in FY 2020-21 for the Department

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Revenue_Estimate_2022_05.pdf

rounding, detail may not sum to total. Growth rates based on the unrounded amounts. Table 2.3 Motor License Fund Summary Estimated 2021-22 Projected 2022-23 Initial Revenue Estimate | Page 19 The Lottery Fund Similar to other consumer purchases, Lottery amounts. Instant Tickets includes Scratch Offs and Fast Play. Other includes Keno and Xpress Sports. Table 2.5 Lottery Fund Summary Estimated 2021-22 Projected 2022-23 Initial Revenue Estimate | Page 22 Fund expenditures in FY 2020-21 for the Department

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Revenue-Proposal-Analysis-2019-03.pdf

Workers ........................................................................................... 32 Impact on Tipped Workers ............................................................................................................. 34 Moving from a $12 to $15 per Hour Minimum Wage ........................................................................ 37 Summary ...................................................................................................................................... 38 - This page intentionally left blank. - Introduction | Page 1 Introduction This report provides revenue estimates for the tax and revenue proposals contained 3 -3 -3 Total n.a. -192 -240 -440 -634 -873 Table 1.1 General Fund Revenue Impact Summary Note: Figures in dollar millions. Tax and Revenue Proposals | Page 4 Rate Reduction The estimate applies the proposed rate reduction to the

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Revenue-Estimate-2023-05.pdf

dollar millions. Detail may not sum to total. Growth rates based on unrounded amounts. Table 2.3 Motor License Fund Summary Estimated 2022-23 Projected 2023-24 Initial Revenue Estimate | Page 18  The oil company franchise tax (OFT) rate is amounts. Instant Tickets includes Scratch Offs and Fast Play. Other includes Keno and Xpress Sports. Table 2.5 Lottery Fund Summary Estimated 2022-23 Projected 2023-24 Initial Revenue Estimate | Page 20  Sales of iLottery are expected to rise 6

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Revenue-Estimate-2019-05.pdf

may not sum to total. Growth rates based on the unrounded amounts. Table 2.3 Motor License Fund Summary Estimated 2018-19 Projected 2019-20 Initial Revenue Estimate | Page 16 Federal Funds Federal funds appropriations confer authority to spend money that detail may not sum to total. Growth rates based on the unrounded amounts. Table 2.4 Lottery Fund Summary Estimated 2018-19 Projected 2019-20 Initial Revenue Estimate | Page 17 Department of Human Services For FY 2019-20, DHS requests authority

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PBB_2020_DOH_REPORT_Final_Update.pdf

is 83.0%. 1 Includes Philadelphia. 4 Data from the National Tuberculosis Indicator Project, Pennsylvania (excludes Philadelphia) Indicator Summary 2014-2018. Disease Treatment 2 Number of confirmed TB and LTBI cases divided by the Tuberculosis Screening and Treatment expenditures. 3 The per 100,000 is based on 2018 estimated population. Source: Pennsylvania Department of Health, 2018 Annual HIV Surveillance Summary Report. 3 For the diagnosis rate of HIV infection/100,000 in population, Philadelphia ranked 41 out of 108 large metropolitan statistical

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PA_Turnpike_Toll_Projections_May_31_2013.pdf

Commercial Ticket System Transactions and Revenues ........................................................................ 13 Barrier System Transactions and Revenues ............................................................................................ 14 Total Transactions and Revenues ........................................................................................................... 17 Section VI: Summary............................................................................................. 19 Section VII: Technical Appendix ......................................................................... 21 - This page was intentionally left blank. - Independent Fiscal Office Page 1 Section I: Introduction strength of the response depends on the type of road, geographic location and viable alternatives. (See Table 2 for a summary of studies and results.) For this analysis, the IFO estimated driver responsiveness to toll rates on the Pennsylvania Turnpike. Similar

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Official-Revenue-Estimate-2019-06.pdf

may not sum to total. Growth rates based on the unrounded amounts. Table 2.3 Motor License Fund Summary Estimated 2018-19 Projected 2019-20 Official Revenue Estimate | Page 16 The Lottery Fund The official revenue estimate projects that Lottery Fund detail may not sum to total. Growth rates based on the unrounded amounts. Table 2.4 Lottery Fund Summary Estimated 2018-19 Projected 2019-20 Official Revenue Estimate | Page 17 Federal Funds Federal funds appropriations confer authority to spend money that

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Official-Revenue-Estimate-2018-06.pdf

may not sum to total. Growth rates based on the unrounded amounts. Table 2.3 Motor License Fund Summary Estimated 2017-18 Projected 2018-19 Official Revenue Estimate | Page 14 The Lottery Fund The official revenue estimate projects that total Lottery In-State Lotto. iLottery and Xpress Sports are not reflected in this table. Table 2.4 Lottery Fund Summary Estimated 2017-18 Projected 2018-19 Official Revenue Estimate | Page 15 Federal Funds Federal funds appropriations confer authority to spend money that

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Initial-Revenue-Estimate-2018-05.pdf

may not sum to total. Growth rates based on the unrounded amounts. Table 2.3 Motor License Fund Summary Estimated 2017-18 Projected 2018-19 Initial Revenue Estimate | Page 14 The Lottery Fund The initial revenue estimate projects that total Lottery and the potential impact on existing games is not reflected in this table. Table 2.4 Lottery Fund Summary Estimated 2017-18 Projected 2018-19 Initial Revenue Estimate | Page 15 Federal Funds Federal funds appropriations confer authority to spend money that

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IFO_Hearing_Packet_Feb2019.pdf

state.pa.us). Sincerely, MATTHEW J. KNITTEL Director, Independent Fiscal Office List of Materials Included Independent Fiscal Office Overview ..................................................................................... 1 Summary of IFO Expenditures ................................................................................................ 3 General Fund Financial Statement Comparison .............................................................. 4 Reconciling FY 2019-20 Ending Balance: Executive Budget vs IFO 2018) Property Tax Update (August 2018) All reports are available on the IFO at www.ifo.state.pa.us. 3 Summary of IFO Expenditures Actual Estimate Proposed 2017-18 2018-19 2019-20 $878,300 $959,000 $1,065,000 335

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IFO_Hearing_Packet_Feb2018.pdf

MATTHEW J. KNITTEL Director, Independent Fiscal Office List of Materials Included Page Information About IFO Background and Recent Publications 1 Summary of IFO Expenditures 4 Economics and Demographics U.S. Economic Trends 5 Pennsylvania Economic Trends 6 Pennsylvania Employment Gains and available for that purpose. 1 IFO Reports and Analyses Regular Monthly or Quarterly Reports  Monthly Trends Report. Provides a summary of monthly and fiscal‐year‐to‐date General Fund revenues. Compares actual revenues to IFO estimates. Tracks various monthly and

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Budget Hearings Packet.pdf

provide economic, revenue or fiscal analysis. IFO Reports and Analyses Regular Monthly or Quarterly Reports • Monthly Trends Report. Provides a summary of recent economic trends for the U.S. and Pennsylvania. Displays monthly and fiscal year-to-date revenues and compares 000 2,076,000 2,076,000 390,995 215,700 149,100 Available Contracted Actuarial Analysis Actuarial Appropriated / Proposed Summary of IFO Expenditures Subtotal Operating Personnel Office Operations & Supplies Salaries Benefits Retirement Employer Taxes Computers, Networks, Servers and Software Data

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Budget Hearings Packet- Web Version.pdf

provide economic, revenue or fiscal analysis. IFO Reports and Analyses Regular Monthly or Quarterly Reports • Monthly Trends Report. Provides a summary of recent economic trends for the U.S. and Pennsylvania. Displays monthly and fiscal year-to-date revenues and compares 000 2,076,000 2,076,000 390,995 215,700 149,100 Available Contracted Actuarial Analysis Actuarial Appropriated / Proposed Summary of IFO Expenditures Subtotal Operating Personnel Office Operations & Supplies Salaries Benefits Retirement Employer Taxes Computers, Networks, Servers and Software Data

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Analysis of Recent Collective Bargaining Agreements.pdf

Tenured Teachers • Service Employees International Union (SEIU), Healthcare Pennsylvania • United Food and Commercial Workers (UFCW) The attached table provides a summary of the analysis for the current fiscal year and subsequent two fiscal years. The table itemizes the cost to the the Office of Administration on October 3, 2016 and December 13, 2016. The Office of Administration provided the IFO with Summary of Changes documents that itemized all material changes contained in the contracts, and for the purpose of this analysis, the

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2002_dbdc_report.pdf

and defined contribution. The report does endeavor to provide a conceptual framework for the requested information by providing a descriptive summary of these two approaches in Part I of the report. Part II of the report is comprised of responses to plan design have been examined at great length over the last two decades. As a means to provide a concise summary of the major differences between the DB and DC approaches and thereby facilitate an understanding of each approach, Chart I

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UGSOA_Wage_Contract_Analysis_2024.pdf

files transmitted by the Office of Administration on December 20, 2023. The Office of Administration provided the IFO with a Summary of Changes document that itemized all material changes contained in the contract, and for the purpose of this analysis, the IFO assumes that summary reflects all substantive changes. The Office of Administration also supplied detailed cost computations based on data extracts from the state

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UGSOA_Wage_Contract_Analysis_2021.pdf

material transmitted by the Office of Administration on September 9, 2021. The Office of Administration provided the IFO with a Summary of Changes document that itemized all material changes contained in the contract, and for the purpose of this analysis, the IFO assumes that summary reflects all substantive changes. The Office of Administration also supplied detailed cost computations based on data extracts from the state

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UGSOA_Wage_Contract_ Analysis_2020.pdf

material transmitted by the Office of Administration on November 2, 2020. The Office of Administration provided the IFO with a Summary of Changes document that itemized all material changes contained in the contract, and for the purpose of this analysis, the IFO assumes that summary reflects all substantive changes. The Office of Administration also supplied detailed cost computations based on data extracts from the state

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UFCW_Wage_Contract_Analysis_2023.pdf

files transmitted by the Office of Administration on October 24, 2023. The Office of Administration provided the IFO with a Summary of Changes document that itemized all material changes contained in the contract, and for the purpose of this analysis, the IFO assumes that summary reflects all substantive changes. The Office of Administration also supplied detailed cost computations based on data extracts from the state

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TC_2022_Mixed_Use_Development.pdf

directly to developers to offset a share of project costs. The final section of this report contains various recommendations. A summary is as follows: ▪ Convert the tax credit to a competitive grant or rebate program. ▪ Offer a direct tax credit to reviewed reports on the impact of mixed-use development and found limited research available. The text that follows provides a summary of two mixed-use development reports iden- tified. These reports are reviewed to provide context, and the IFO has no

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TC_2021_Video_Game_Production.pdf

the credit likely subsidizes projects that would have occurred regardless. The final section of this report contains various recommendations. A summary is as follows:  Convert the existing tax credit into a competitive grant or rebate program and award projects based examines the specific impact of the video game industry on state and local economies. The text that follows provides a summary of two recent video game industry reports. These reports are reviewed to provide context, and the IFO has no opinion

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TC_2021_Keystone_Special_Development_Zones_Update.pdf

one Pennsylvania location to another does not incentivize new activity. The final section of this report contains various recommendations. A summary is as follows:  Few firms participate in the KSDZ Tax Credit program. Modifications (discussed later) could be considered to literature and many older reports that were available were based on limited case studies. The text that follows provides a summary of three studies to highlight findings and trends that may still be applicable to current brownfield remediation efforts. The Environmental

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TC_2021_Entertainment_Economic_Enhancement_Program.pdf

cents of state tax revenue for each tax credit dollar. The final section of this report contains various recommendations. A summary is as follows: ▪ Eliminate the requirement that a tour must rehearse at a qualified rehearsal studio and allow the rehearsal of research that examines the impact of live concerts on state and local economies. The text that follows provides a summary of two recent reports on similar state tax credit programs. Economic and Fiscal Impact of Louisiana Entertainment Tax Credits (2019

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TC_2019_Historic_Preservation_Tax_Credit_Report.pdf

of legislative intent for HPTCs in other states and the federal tax credit. The following excerpts provide a summary of those de- scriptions. The excerpts are verbatim and sources are noted in the footnotes. U.S. National Park Service (federal tax credit and review applications. 9 The appli- cation process has five steps. The text that follows is a summary of the more detailed explanation contained in the Program Guidelines for the Historic Preservation Tax Credit published by DCED: 10 Step 1

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SEIU_Local_668_Wage_Contract_Analysis_2023.pdf

files transmitted by the Office of Administration on September 8, 2023. The Office of Administration provided the IFO with a Summary of Changes document that itemized all material changes contained in the contract, and for the purpose of this analysis, the IFO assumes that summary reflects all substantive changes. The Office of Administration also supplied detailed cost computations based on data extracts from the state

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SEIU_Local_668_UC_Referees_Wage_Contract_Analysis_2024.pdf

files transmitted by the Office of Administration on January 24, 2024. The Office of Administration provided the IFO with a Summary of Changes document that itemized all material changes contained in the contract, and for the purpose of this analysis, the IFO assumes that summary reflects all substantive changes. The Office of Administration also supplied detailed cost computations based on data extracts from the state

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SEIU_HCPA_Wage_Contract_Analysis_2023.pdf

files transmitted by the Office of Administration on November 20, 2023. The Office of Administration provided the IFO with a Summary of Changes document that itemized all material changes contained in the contract, and for the purpose of this analysis, the IFO assumes that summary reflects all substantive changes. The Office of Administration also supplied detailed cost computations based on data extracts from the state

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SEIU Local 668 UC Referees Analysis- 2020.pdf

material transmitted by the Office of Administration on March 6, 2020. The Office of Administration provided the IFO with a Summary of Changes document that itemized all material changes contained in the contract, and for the purpose of this analysis, the IFO assumes that summary reflects all substantive changes. The Office of Administration also supplied detailed cost May 7, 2020 Page 3 computations based on

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SEIU Healthcare Wage Contract Analysis- 2019.pdf

material transmitted by the Office of Administration on October 10, 2019. The Office of Administration provided the IFO with a Summary of Changes document that itemized all material changes contained in the contract, and for the purpose of this analysis, the IFO assumes that summary reflects all substantive changes. The Office of Administration also supplied detailed cost computations based on data extracts from the state

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Revenue-Proposal-Analysis-2018-04.pdf

Total 210 571 554 450 305 Note: figures in dollar millions. Table 1.1 General Fund Revenue Impact Summary Fiscal Years Tax and Revenue Proposals | Page 4 Methodology The CNIT proposal was analyzed in the following order: (1) rate reduction and tax rate (ETR) is useful for these purposes because it reduces the multiple factors influencing collections to a summary metric. Generally, the ETR is equal to the severance tax or impact fee revenues for a specified period divided by the market

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Public_Data-Motor_License_Fund.xlsx

Fiscal Year SUMMARY | DETAIL - LIQUID FUELS TAXES | DETAIL - LICENSES AND FEES | DETAIL - OTHER MOTOR RECEIPTS (dollar amounts in millions) | (dollar amounts in millions 0 3.3 60.2 2.0 0.0 0.0 0.0 0.0 0.0 0.0 Quarterly SUMMARY | DETAIL - LIQUID FUELS TAXES | DETAIL - LICENSES AND FEES | DETAIL - OTHER MOTOR RECEIPTS (dollar amounts in millions) | (dollar amounts in millions

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Public_Data-General_Fund.xlsx

Fiscal Year SUMMARY | DETAIL - CORPORATE TAXES | DETAIL - CONSUMPTION TAXES | DETAIL - OTHER TAXES | DETAIL - NON-TAX REVENUES (dollar amounts in millions) | (dollar amounts in 4 365.1 (62.0) | 185.1 889.6 157.5 732.2 66.0 0.0 0.0 Quarterly SUMMARY | DETAIL - CORPORATE TAXES | DETAIL - CONSUMPTION TAXES | DETAIL - OTHER TAXES | DETAIL - NON-TAX REVENUES (dollar amounts in millions) | (dollar amounts in

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PSEA_Wage_Contract_Analysis_2023.pdf

files transmitted by the Office of Administration on December 12, 2023. The Office of Administration provided the IFO with a Summary of Changes document that itemized all material changes contained in the contract, and for the purpose of this analysis, the IFO assumes that summary reflects all substantive changes. The Office of Administration also supplied detailed cost computations based on data extracts from the state

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PSEA Wage Contract Analysis- 2020.pdf

material transmitted by the Office of Administration on June 9, 2020. The Office of Administration provided the IFO with a Summary of Changes document that itemized all material changes contained in the contract, and for the purpose of this analysis, the IFO assumes that summary reflects all substantive changes. The Office of Administration also supplied detailed cost computations based on data extracts from the state

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PSCOA Wage Contract Analysis- 2020.pdf

material transmitted by the Office of Administration on May 31, 2020. The Office of Administration provided the IFO with a Summary of Changes document that itemized all material changes contained in the contract, and for the purpose of this analysis, the IFO assumes that summary reflects all substantive changes. The Office of Administration also supplied detailed cost computations based on data extracts from the state

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Presentation-2019-3-1-EPLC.pdf

ECONOMIC & BUDGET OUTLOOK Education Policy and Leadership Center Commonwealth of Pennsylvania March 1, 2019 Today’s IFO Presentation  Executive Summary | Crucial Assumptions | Recession Risk  Demographics: a contracting workforce  Economics: modest 2018 gains from TCJA, strong labor market  drilling year, not year of receipt. 2018 is estimated by the IFO. All computed ETRs are calculated by the IFO. Summary and Outlook Governor's Executive Budget relies on a combination of policy options, funding shifts and one-time measures to

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PLEA_Wage_Contract_Analysis_2023.pdf

files transmitted by the Office of Administration on November 1, 2023. The Office of Administration provided the IFO with a Summary of Changes document that itemized all material changes contained in the contract, and for the purpose of this analysis, the IFO assumes that summary reflects all substantive changes. The Office of Administration also supplied detailed cost computations based on data extracts from the state

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PLEA Wage Contract Analysis- 2019.pdf

material transmitted by the Office of Administration on October 2, 2019. The Office of Administration provided the IFO with a Summary of Changes document that itemized all material changes contained in the contract, and for the purpose of this analysis, the IFO assumes that summary reflects all substantive changes. The Office of Administration also supplied detailed cost computations based on data extracts from the state

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PDA_Wage_Contract_Analysis_2023.pdf

files transmitted by the Office of Administration on November 21, 2023. The Office of Administration provided the IFO with a Summary of Changes document that itemized all material changes contained in the contract, and for the purpose of this analysis, the IFO assumes that summary reflects all substantive changes. The Office of Administration also supplied detailed cost computations based on data extracts from the state

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PDA Wage Contract Analysis- 2019.pdf

material transmitted by the Office of Administration on October 10, 2019. The Office of Administration provided the IFO with a Summary of Changes document that itemized all material changes contained in the contract, and for the purpose of this analysis, the IFO assumes that summary reflects all substantive changes. The Office of Administration also supplied detailed cost computations based on data extracts from the state

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PBB_2022_AGRICULTURE_REPORT.pdf

19 restrictions, as there were no parking or concessions revenues from events at the complex. The adjacent table provides a summary of the grants related to the PA Farm Bill, which have totaled $4.1 million over the last two complete Recipients 14 16 Amount ($000s) $28 $34 Very Small Meat Processor Recipients 12 -- Amount ($000s) $402 -- PA Farm Bill Grant Summary Agricultural Marketing and Development | Page 36 - This page intentionally left blank. - Plant Industry and Health | Page 37 Activity 7: Plant

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PBB_2019_PCCD_Report.pdf

the state. The final report is expected to be released in early 2019. PCCD provided the following preliminary summary findings to be included in this report. Results First Project Summary During 2018, PCCD staff, along with partners at the Penn State EPISCenter, worked with the Pew Founda- tion on the Results First

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OPEIU_Wage_Contract_Analysis_2023.pdf

files transmitted by the Office of Administration on November 21, 2023. The Office of Administration provided the IFO with a Summary of Changes document that itemized all material changes contained in the contract, and for the purpose of this analysis, the IFO assumes that summary reflects all substantive changes. The Office of Administration also supplied detailed cost computations based on data extracts from the state

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OPEIU Wage Contract Analysis- 2019.pdf

material transmitted by the Office of Administration on October 10, 2019. The Office of Administration provided the IFO with a Summary of Changes document that itemized all material changes contained in the contract, and for the purpose of this analysis, the IFO assumes that summary reflects all substantive changes. The Office of Administration also supplied detailed cost computations based on data extracts from the state

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MGMT Nonrepresented Wage Contract.pdf

bases this analysis on material transmitted by the Office of Administration. The Office of Administration provided the IFO with a Summary of Changes document that itemized all material changes contained in the AFSCME contract, and for the purpose of this analysis, the IFO assumes that summary reflects all substantive changes. The Office of Administration also supplied detailed cost computations based on data extracts from the state

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ISSU_Wage_Contract_Analysis_2023.pdf

files transmitted by the Office of Administration on November 20, 2023. The Office of Administration provided the IFO with a Summary of Changes document that itemized all material changes contained in the contract, and for the purpose of this analysis, the IFO assumes that summary reflects all substantive changes. The Office of Administration also supplied detailed cost computations based on data extracts from the state

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ISSU Wage Contract Analysis- 2019.pdf

material transmitted by the Office of Administration on September 3, 2019. The Office of Administration provided the IFO with a Summary of Changes document that itemized all material changes contained in the contract, and for the purpose of this analysis, the IFO assumes that summary reflects all substantive changes. The Office of Administration also supplied detailed cost computations based on data extracts from the state

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IFO ppt.pdf

best year since 2008. Strong December. January 18, 2012 Independent Fiscal Office Economic & Budget Outlook 2012 Revenue Conference Economic Outlook Summary • Adjustment processes appear to be winding down. – Credit balances have stopped declining, increasing slowly. – Banks lending. Bad loans being flushed now. • Some room for guarded optimism. January 18, 2012 Independent Fiscal Office Economic & Budget Outlook 2012 Revenue Conference Economic Outlook Summary • Crucial short-term factors: – Potential for European debt crisis. Recent French downgrade. German economy contracts in 2011 Q4. Forecast assumes

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GPNP July 10, 2012 final.pdf

Motor Vehicle Sales Tax $ millions Pent-up demand carried into FY 2012-13 10.Jul.2012 21 2012 GPNP Conference Summary  It appears that economic growth has downshifted again heading into summer.  A combination of factors are responsible: 1 3. Businesses take wait and see approach. Consumers follow.  Psychology is important. 10.Jul.2012 22 2012 GPNP Conference Summary (continued)  Likely scenario: slow, plodding growth through the election ~ 1.5% real growth. Small decline, if any, in unemployment

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FOSCEP Wage Contract Analysis- 2019.pdf

material transmitted by the Office of Administration on October 2, 2019. The Office of Administration provided the IFO with a Summary of Changes document that itemized all material changes contained in the contract, and for the purpose of this analysis, the IFO assumes that summary reflects all substantive changes. The Office of Administration also supplied detailed cost computations based on data extracts from the state

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Economic_and_Revenue_Update_2021.pdf

the U.S. Census Bureau and Pennsylvania DOH. Pennsylvania Demographic Snapshot Number of Residents (000s) Avg. Annual Growth Age Cohort Summary Note: Thousands of residents. Detail may not sum to total due to rounding. Table data are from the IFO's in personal income tax liability. Independent Fiscal Office 24 March 2021 PIT Revenue Proposal: Impact on Average Effective Tax Rates Summary The higher SP thresholds disproportionately impact wage earners at lower end of income distribution and greatly reduce the average effective

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Economic_and_Revenue_Update_2020.pdf

Wage Contract Analysis (November 2019) ALES Wage Contract Analysis (November 2019) SEIU Wage Contract Analysis (November 2019) 2019 Wage Contracts Summary Table (November 2019) Natural Gas 2018 Impact Fee Estimate (January 2019) Natural Gas Production Report, 2018 Q4 (March 2019) Natural 79 0.3 2.4 Total 12,786 12,842 12,906 56 65 0.1 0.1 Age Cohort Summary Note: Thousands of residents. Detail may not sum to total due to rounding. Source: The 2015 data are from the

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DotPlotData.xlsx

the weighted student count within the Fair Funding Formula and are from source "G" listed above. Original Dot Plot Data Summary statistics for all rural, suburban and urban districts are located below the individual school district data. AUN School District NCES spending levels due to other relevant factors such as family income and share of ELL students. Alternative Dot Plot Data Summary statistics for all rural, suburban and urban districts are located below the individual school district data. AUN School District NCES

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Demographics_Outlook_2022.pdf

Deaths,” February 2022. 4 Social Security and Medicare Boards of Trustees, “Status of the Social Security and Medicare Programs, A Summary of the 2022 Annual Reports,” Social Security Administration, August 2022. 5 Schachter, Jason et al., “New Population Estimates Show COVID- and U.S. CDC. Note: Detail may not sum to total due to rounding. Number of Residents (000s) Age Cohort Summary Avg. Annual Growth Demographic Trends by Age Group | Page 5 Pennsylvania Population Distribution Figure 2.1 displays the Pennsylvania projected

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CNIT-Rate-Cut-2018-04.pdf

of the state tax system in a single tax rate. In practice, it is not possible to compute such a summary metric and it can only be noted that certain provisions tend to increase or decrease the “true” effective tax rate then those analyses should consider the impact of a higher national debt on interest rates and future economic growth. In summary, it is inherently difficult to quantify the long-term impact of a state CNIT rate reduction on revenues. All studies

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CIVEA_Wage_Contract_Analysis_2023.pdf

files transmitted by the Office of Administration on October 24, 2023. The Office of Administration provided the IFO with a Summary of Changes document that itemized all material changes contained in the contract, and for the purpose of this analysis, the IFO assumes that summary reflects all substantive changes. The Office of Administration also supplied detailed cost computations based on data extracts from the state

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CIVEA Wage Contract Analysis- 2019.pdf

material transmitted by the Office of Administration on January 30, 2020. The Office of Administration provided the IFO with a Summary of Changes document that itemized all material changes contained in the contract, and for the purpose of this analysis, the IFO assumes that summary reflects all substantive changes. The Office of Administration also supplied detailed cost computations based on data extracts from the state

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Budget_Hearing_Background_Feb2016.pdf

of information and analysis available to policy makers. Independent Fiscal Office ‐ Overview Regular Reports  Monthly Trends Report. Provides a summary of recent economic trends for the U.S. and Pennsylvania. Displays monthly and fiscal year‐to‐date revenues and compares published by the office are available on its website at www.ifo.state.pa.us. IFO Reports and Analyses Outlook Summary Economic and Consumer Outlook Page(s) The U.S. economy shows signs of a possible slowdown. 1 For 2015, Pennsylvania

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BEFC_Survey_Results_FINAL.pdf

Fiscal Office DATE: December 14, 2023 RE: Results from the 2023 Basic Education Funding Commission Survey ________________________________________________________________________________ This document provides summary tabulations for the Basic Education Funding Commission (BEFC) survey sent by the Pennsylvania Department of Education to 100 school districts and the administration of this survey. - This page intentionally left blank. - Independent Fiscal Office Page 1 Introduction This document provides summary data from the Basic Education Funding Commission (BEFC) survey sent to 100 school districts and 25 charter schools in October 2023

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ALES_Wage_Contract_Analysis_2024.pdf

files transmitted by the Office of Administration on January 29, 2024. The Office of Administration provided the IFO with a Summary of Changes document that itemized all material changes contained in the contract, and for the purpose of this analysis, the IFO assumes that summary reflects all substantive changes. The Office of Administration also supplied detailed cost computations based on data extracts from the state

Hits: 2

ALES Wage Contract Analysis- 2019.pdf

material transmitted by the Office of Administration on October 10, 2019. The Office of Administration provided the IFO with a Summary of Changes document that itemized all material changes contained in the contract, and for the purpose of this analysis, the IFO assumes that summary reflects all substantive changes. The Office of Administration also supplied detailed cost computations based on data extracts from the state

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AFSCME_Wage_Contract_Analysis_2023.pdf

files transmitted by the Office of Administration on August 7, 2023. The Office of Administration provided the IFO with a Summary of Changes document that itemized all material changes contained in the contract, and for the purpose of this analysis, the IFO assumes that summary reflects all substantive changes. The Office of Administration also supplied detailed cost computations based on data extracts from the state

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2004_srpvffinal.pdf

requested, obtained and reviewed data from various official documents, actuarial valuations, comprehensive annual financial reports, state statutes, member handbooks, plan summaries and related materials. On those occasions when documentation was unavailable, survey respondents were asked to provide estimates based upon their Table I displays selected survey findings and illustrates the main provisions and related characteristics of the subject benefit plans in summary form. The following describes salient survey findings in narrative form. Nomenclature and Purpose. The nomenclature used to describe the subject

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Releases

includes data on the state budget, revenue proposals, economy, revenues, demographics and other miscellaneous topics. Full Report 2024 Wage Contracts Summary Table February 16, 2024 | Wage Contracts This table provides an up-to-date summary of the recent wage contracts analyzed by the IFO. Additional estimates will be provided after the relevant contract detail has

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TC_2023_PA_Resource_Manufacturing.pdf

operational within the state. Economic Impact | Page 13 Key Findings from Petrochemical Industry Studies The text that follows provides a summary of recent research by government and private entities on the petrochemical industry. These reports are included to provide context, and

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TC_2022_Brewers.pdf

recently awarded credits will not be utilized prior to expiration. The final section of this report contains various recommendations. A summary is as follows: ▪ The tax credit should be targeted to small and very small brewers. The tax credit is generally

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TC_2021_Neighborhood_Assistance_Program.pdf

generally want to make donation decisions by calendar year end. The final section of this report contains various recommendations. A summary is as follows: ▪ DCED should work to standardize the NAP Tax Credit application period and announce application decisions earlier in

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TC_2020_Organ and Bone Marrow Donation Tax Credit.pdf

Pennsylvania Department of Revenue (DOR) administers the tax credit and reviews applications. The text that follows is a summary of the OBMD application process. Applicants for the OBMD must submit the following:  Completed Pennsylvania Organ and Bone Marrow Donor Tax

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TC_2019_New_Jobs_Tax_Credit_Report.pdf

Administration and Implementation DCED administers the tax credit and reviews applications. 4 The text that follows is a summary of the more detailed explanation of the application process contained in the Program Guidelines for the Job Creation Tax Credit published by

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Tax_Credit_and_PBB_Overview_2019-01-24.pdf

TV productions that relocate.  Track productions approved, but did not receive an award. January 24, 2019 9 Tax Credit Summary Need better data on the true share incentivized.  Administrators are in best position to track data. Aggregate dollar caps

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

for TV productions that relocate. ▪ Track productions approved, but did not receive an award. January 24, 2019 9 Tax Credit Summary Need better data on the true share incentivized. ▪ Administrators are in best position to track data. Aggregate dollar caps should

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

TV productions that relocate.  Track productions approved, but did not receive an award. January 24, 2019 9 Tax Credit Summary Need better data on the true share incentivized.  Administrators are in best position to track data. Aggregate dollar caps

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SUT Exemption for Aircraft - January 2013.pdf

for revenue neutrality; it merely changes the mix between the number of direct and indirect jobs required. VII. Summary of Findings This brief report analyzes the potential impact of a proposed SUT exemption for aircraft sales, parts and MRO services for

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Select Committee Oct 1 2012 FINAL.pdf

not affect revenue neutrality of proposal. 1.Oct.2012 Analysis of HB 1776 and SB 1400 of 2012 – Slide 29 Summary  Analysis suggests shortfall in proposal.  Revenues roughly $1 billion short of proposed distributions to school districts.  Distributions

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SD-Property-Tax-Forecast-2019.pdf

based on the statutory, economic and structural factors that affect growth rates of school property taxes. Table 1 provides a summary of the IFO’s estimate of school property taxes for FY 2017-18 and FY 2018-19, as well as

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Revenue_Proposal_Analysis_2023_05.pdf

a more detailed itemization of this computation, see the IFO Analysis of Revenue Proposals released in April 2021.) Indirect. Affected Summary $15 - $17.99 Employment Retained Jobs Paid Higher Wage (000s) 1 157.9 358.6 464.1 980.6 778

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Revenue_Estimate_Performance_Dec_2017.pdf

receipt of an assumed $200 million transfer from the Pennsylvania Joint Underwriter’s Association (included in non-tax). Summary For two of the five fiscal years, the IFO official estimate has been within one-half percentage point of actual revenues. In

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Revenue_Estimate_Performance_2023_08.pdf

331.2 million) enacted in November 2020 in conjunction with the 2020-21 state budget. Revenue Estimate Performance | Page 4 Summary For three of the eleven fiscal years, the IFO official estimate has been within one-half percentage point of actual

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Revenue-Estimate-Performance_2022_10.pdf

or 5.8%. The unusually strong economic activity generated revenues that exceeded even the May 2022 estimate by $404 million. Summary For three of the ten fiscal years, the IFO official estimate has been within one-half percentage point of actual

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Revenue-Estimate-Performance-2021-09.pdf

than expected performance of mid-sized and large businesses generated revenues that exceeded the May 2021 estimate by $281 million. Summary For three of the nine fiscal years, the IFO official estimate has been within one-half percentage point of actual

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Revenue-Estimate-Performance-2020-09.pdf

5 percent) for the January mid-year update and $311 million (0.9 percent) for the May update. Summary For three of the eight fiscal years, the IFO official estimate has been within one-half percentage point of actual revenues. In

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Revenue-Estimate-Performance-2019-07.pdf

Much of the licenses and fees error was attributable to one-time revenue gains from the gaming expansion. Summary For three of the seven fiscal years, the IFO official estimate has been within one-half percentage point of actual revenues. In

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Revenue-Estimate-Performance-2018-07.pdf

update (-$13 million), but increased for the May update ($66 million) due to strong growth of SUT revenues. Summary For three of the six fiscal years, the IFO official estimate has been within one-half percentage point of actual revenues. In

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Revenue-Estimate-2019-05-Presentation.pdf

volatility.  2019 Q1 profits number end of month  Business investment slowdown (WSJ May 19)? May 20, 2019 19 Summary Increase to IFO Official Estimate of +$866 million  Translate to Executive Budget Official Estimate: +$790 million FY 19-20

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REU-2020-02.pdf

in millions. Growth rates computed from same time period in previous year and use the unrounded amounts. GENERAL FUND REVENUES SUMMARY Revenue Source February February FYTD FYTD Monthly Growth FYTD Growth 2020 2019 2019-20 2018-19 Total General Fund $2

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REU-2020-01.pdf

in millions. Growth rates computed from same time period in previous year and use the unrounded amounts. GENERAL FUND REVENUES SUMMARY Revenue Source January January FYTD FYTD Monthly Growth FYTD Growth 2020 2019 2019-20 2018-19 Total General Fund $3

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REU-2019-12.pdf

in millions. Growth rates computed from same time period in previous year and use the unrounded amounts. GENERAL FUND REVENUES SUMMARY Revenue Source December December FYTD FYTD Monthly Growth FYTD Growth 2019 2018 2019-20 2018-19 Total General Fund $2

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REU-2019-11.pdf

in millions. Growth rates computed from same time period in previous year and use the unrounded amounts. GENERAL FUND REVENUES SUMMARY Revenue Source November November FYTD FYTD Monthly Growth FYTD Growth 2019 2018 2019-20 2018-19 Total General Fund $2

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REU-2019-10.pdf

in millions. Growth rates computed from same time period in previous year and use the unrounded amounts. GENERAL FUND REVENUES SUMMARY Revenue Source October October FYTD FYTD Monthly Growth FYTD Growth 2019 2018 2019-20 2018-19 Total General Fund $2

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Response_Letter_9_23_2019.pdf

renters would be treated. Therefore, the analysis did not examine how senior renters might be impacted. Table 4 provides a summary of state income tax treatment of retirement income for 2019. As shown by the table, Pennsylvania is one of 28

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Response_Letter_2021_April.pdf

000 elderly homeowners claimed $109.4 million of property tax rebates. April 16, 2021 Page 3 Table 5 provides a summary of state income tax treatment of retirement income for 2021. As shown by the table, Pennsylvania is one of 28

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Response-Letter-2-27-2020.pdf

estimated that 3,257 children will enter February 27, 2020 Page 6 congregate care settings. The following table provides a summary of the number of children entering in congregate care by type of placement setting. The maximum annual loss of federal

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RB_2023_03_Rental_Assistance.pdf

evicting tenants due to specific factors, including unpaid rent. The initial moratorium was extended several times to August 2021. A summary is as follows: ▪ March 2020: The CARES Act included a renter eviction moratorium through July 2020. A state eviction moratorium

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RB_2022_09_Student_Loan_Forgiveness.pdf

469 billion for loan forgiveness, $16 billion for the forbearance extension through December 2022 and $42 billion for 1 This summary is from the Penn Wharton Budget Model analysis at https://budgetmodel.wharton.upenn.edu/issues/2022/8/26/biden-student-

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RB_2022_08 County Income Patterns.pdf

S. Census Bureau, American Community Survey 5-Year Estimates, 2017-20. (Web) U.S. Bureau of Economic Analysis, Personal Income Summary, 2017-20. (Web) U.S. Small Business Administration, PPP Freedom of Information Act Dataset, 2020 (Web) Staff Acknowledgements Michaela Miller

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RB_2021_02 County Income Patterns.pdf

S. Census Bureau, American Community Survey 5-Year Estimates, 2016-19. (Web) U.S. Bureau of Economic Analysis, Personal Income Summary, 2016-19. (Web) Independent Fiscal Office Page 6 2016 2019 AAGR Rank 2016 2019 AAGR Rank 2016 2019 AAGR Rank

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RB_08_2023_County_Income_Patterns.pdf

Programs (2021) (cont.) Independent Fiscal Office Page 10 Reference Map Data Sources U.S. Bureau of Economic Analysis, Personal Income Summary, 2018-21. (Web) U.S. Small Business Administration, PPP Freedom of Information Act Dataset, 2021. (Web) Staff Acknowledgements Rachel Flaugh

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RB-2020-03 County Income Patterns.pdf

S. Census Bureau, American Community Survey 1-Year Estimates, 2016-18. (Web) U.S. Bureau of Economic Analysis, Personal Income Summary, 2016-18. (Web) Independent Fiscal Office Page 5 2016 2018 AAGR Rank 2016 2018 AAGR Rank 2016 2018 AAGR Rank

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RB-2018-01.pdf

IFO research regarding the property taxes paid by homesteads and displays estimates through FY 2022-23. Table 1 provides a summary of the IFO’s estimate of school property taxes for FY 2016-17 and FY 2017- 18 as well as

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RB-2016-02.pdf

represent the actual awards or distributions in the applicable Ðiscal year instead of the debt service that was paid. A summary follows, which includes totals for these categories. A Ðinal page includes detail on data sources if additional information is desired

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RB 2019 County Income Patterns.pdf

S. Census Bureau, American Community Survey 1-Year Estimates, 2015-17. (Web) U.S. Bureau of Economic Analysis, Personal Income Summary, 2015-17. (Web) Independent Fiscal Office Page 5 2015 2017 AAGR Rank 2015 2017 AAGR Rank 2015 2017 AAGR Rank

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PSBA Presentation - Final.pdf

that finances grandfathered debt service is phased out and not retained. 1/19/2017 5 SB 76 of 2013: Fiscal Summary ($ billions) 1/19/2017 6 2014-15 2015-16 2016-17 2017-18 2018-19 Increase Sales Tax Rate $1

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Presentation_PA_Bus_Council_6-22-15.pdf

to 4.99% over several years. 22.Jun.2015 7 Executive Budget: Tax Relief 22.Jun.2015 8 Revenue Impact Summary 2015-16 2016-17 2017-18 2018-19 2019-20 Revenue Increases $4,908 $7,974 $8,476 $9,179

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Presentation_2017_02_10_EPLC.pdf

expenditure growth. Recent policy changes (partially) addressed the short-term deficit, but the long-term imbalance remains. Long-Term Outlook Summary 10.Feb.2017 13 Mid-Year Revenue Update 14 10.Feb.2017 Revised revenue projections for FY 2016-17 and

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Presentation-2019-5-1-PAEL.pdf

status. First group includes 32,448 filers. Second group includes 44,309 filers. Source: Personal income tax microdata file. Analysis Summary Nearly all policy decisions have trade-offs.  IFO task is to identify, document and explain them clearly. May 1

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Presentation-2019-01-Mid-Year-Update.pdf

bonus depr.).  TY 2016: PA federal tax refunds were $14.1 billion. Higher or lower? January 29, 2019 16 Summary Through January, actual revenues exceed estimates.  IFO: +$310 million gain.  Administration: +$279 million gain. Most net gains are

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Presentation-2018-06-PASBO.pdf

0% 4.0% 5.0% Actual 2016-17 growth rate as published by PDE 15 June.05.2018 Homestead Rebate Summary Baseline: Currently Eligible Potential Woodwork Effect Estimates Adjusted for Woodwork School Property Tax and Homestead Estimates (FY 2017-18) School

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PICPA Presentation_ June 11, 2019.pdf

3.8% All Non-Tax 595 -187 -23.9% Note: Dollar amounts are in millions. PIT is personal income tax. Summary Increase to IFO Official Estimate of +$866 million  Translate to Executive Budget Official Estimate: +$790 million FY 19-20

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PBB_Board_Hearing_Sept_28_2021.pdf

location decision ▪ Excludes other benefits: positive spillovers, enhanced property tax revenues September 28, 2021 4 Keystone Special Development Zones (KSDZ) Summary of findings based on input from participants ▪ Tax credit is one of many factors that affected the location decision ▪ Other

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PBB_2023_DCNR_REPORT.pdf

to Service Area (2019) Note: Service areas include trailheads. Local Recreation and Conservation | Page 21 The table below displays a summary of the C2P2 grant program for FY 2021-22 by county. The table shows (1) the amount of grant awards

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PBB_2022_DHS_REPORT_ADDENDUM.pdf

Performance Measures for Licensing and Inspections Note: 1 Snapshot as of June each fiscal year. 3 LIS is Licensing Inspection Summary. DHS issues LIS to licensees within 15 business days if, at the completion of an on-site inspection, they are

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PBB_2022_AGING_REPORT_Addendum.pdf

Justice and Protection | Page 22 Notes on Measures ▪ In January 2019, the Office of State Inspector General released an executive summary of PDA’s monitoring of county-level protective services. One finding related to how AAAs categorize and investigate RONs. As

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PBB_2021_DHS_REPORT_ADDENDUM.pdf

Bureau of Human Services Licensing under the Office of Administration. Performance Measures for Licensing Notes: 2 LIS is Licensing Inspection Summary. DHS issues LIS to licensees within 15 business days if, at the completion of an on-site inspection, they are

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PBB_2020_DOS_REPORT.pdf

their governing statutes and regulations and (2) facility inspection enforcement actions including the issuance of civil citations and summary imposition of fines. Additionally, BEI has the authority to request and serve cease and desist orders, subpoenas and immediate temporary suspension orders

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PBB_2020_DCED_REPORT.pdf

inde- pendent authorities for each agency activity in which they play a role. The table below shows a summary of project awards and DCED funds used to support these independent authorities: the Commonwealth Financing Authority (CFA), the Pennsylvania Industrial Development Authority

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PA_Economy_League_Presentation.pdf

on local conditions.  Homeowners vs. renters.  Working vs. retired.  Growing vs. contracting school districts. 19.May.2017 Summary 26 Presentation to be Posted on IFO website www.ifo.state.pa.us 19.May.2017 Questions/Discussion 27 Author

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NGQU_2023_Q4.pdf

1.69 $1.68 Growth Rate -45.0% -78.3% -81.1% -62.8% -69.9% CY 2023 Natural Gas Summary: 2023 Q4 Note: Growth rates are year-over-year. Production is in billion cubic feet, horizontal wells only. Average PA

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NGQU_2023_Q3.pdf

hubs. Source: Production volume and well counts are reported by DEP. Price data are from Natural Gas Intelligence. Natural Gas Summary: 2023 Q3 Natural Gas Quarterly Update July to September 2023 Q3 INDEPENDENT FISCAL OFFICE THIRD QUARTER 2023 The table below

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NGQU_2023_Q2.pdf

3% Sources: Production volume and well counts are reported by DEP. Price data are from Natural Gas Intelligence. Natural Gas Summary: 2023Q2 2022 2023 Note: Growth rates are year-over-year. Production in billion cubic feet, horizontal wells only. Average PA

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NGQU_2023_Q1.pdf

6.89 $4.46 $2.23 Growth Rate 62.1% 221.8% 94.7% 12.0% -45.7% Natural Gas Summary: 2023Q1 2022 Sources: Production volume and well counts are reported by DEP. Price data are from Bentek Energy. Note: Growth

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NAP-2018-03.pdf

Tax Preferences, Commonwealth of Virginia Division of Legislative Services (September 2016) http://dls.virginia.gov/commissions/tax/files/Neighborhood%20assistance.pdf SUMMARY Pennsylvania’s NAP tax credit encourages private investment in projects that serve distressed areas or support neighborhood conservation. Available tax

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MTR-2019-09.pdf

in millions. Growth rates computed from same time period in previous year and use the unrounded amounts. GENERAL FUND REVENUES SUMMARY Revenue Source September September FYTD FYTD Monthly Growth FYTD Growth 2019 2018 2019-20 2018-19 Total General Fund $3

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MTR-2019-08.pdf

in millions. Growth rates computed from same time period in previous year and use the unrounded amounts. GENERAL FUND REVENUES SUMMARY Revenue Source August August FYTD FYTD Monthly Growth FYTD Growth 2019 2018 2019-20 2018-19 Total General Fund $2

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MTR-2019-07.pdf

in millions. Growth rates computed from same time period in previous year and use the unrounded amounts. GENERAL FUND REVENUES SUMMARY Revenue Source July July FYTD FYTD Monthly Growth FYTD Growth 2019 2018 2019-20 2018-19 Total General Fund $2

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MTR-2019-06.pdf

in millions. Growth rates computed from same time period in previous year and use the unrounded amounts. GENERAL FUND REVENUES SUMMARY Revenue Source June June FYTD FYTD Monthly Growth FYTD Growth 2019 2018 2018-19 2017-18 Total General Fund $3

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MTR-2019-05.pdf

in millions. Growth rates computed from same time period in previous year and use the unrounded amounts. GENERAL FUND REVENUES SUMMARY Revenue Source May May FYTD FYTD Monthly Growth FYTD Growth 2019 2018 2018-19 2017-18 Total General Fund $2

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MTR-2019-04.pdf

in millions. Growth rates computed from same time period in previous year and use the unrounded amounts. GENERAL FUND REVENUES SUMMARY Revenue Source Apr Apr FYTD FYTD Monthly Growth FYTD Growth 2019 2018 2018-19 2017-18 Total General Fund $4

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MTR-2019-03.pdf

in millions. Growth rates computed from same time period in previous year and use the unrounded amounts. GENERAL FUND REVENUES SUMMARY Revenue Source Mar Mar FYTD FYTD Monthly Growth FYTD Growth 2019 2018 2018-19 2017-18 Total General Fund $4

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MTR-2019-02.pdf

in millions. Growth rates computed from same time period in previous year and use the unrounded amounts. GENERAL FUND REVENUES SUMMARY Revenue Source Feb Feb FYTD FYTD Monthly Growth FYTD Growth 2019 2018 2018-19 2017-18 Total General Fund $2

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MTR-2019-01.pdf

in millions. Growth rates computed from same time period in previous year and use the unrounded amounts. GENERAL FUND REVENUES SUMMARY Revenue Source Jan Jan FYTD FYTD Monthly Growth FYTD Growth 2019 2018 2018-19 2017-18 Total General Fund $2

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MTR-2018-12.pdf

in millions. Growth rates computed from same time period in previous year and use the unrounded amounts. GENERAL FUND REVENUES SUMMARY Revenue Source Dec Dec FYTD FYTD Monthly Growth FYTD Growth 2018 2017 2018-19 2017-18 Total General Fund $2

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MTR-2018-11.pdf

in millions. Growth rates computed from same time period in previous year and use the unrounded amounts. GENERAL FUND REVENUES SUMMARY Revenue Source Nov Nov FYTD FYTD Monthly Growth FYTD Growth 2018 2017 2018-19 2017-18 Total General Fund $2

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MTR-2018-10.pdf

in millions. Growth rates computed from same time period in previous year and use the unrounded amounts. GENERAL FUND REVENUES SUMMARY Revenue Source Oct Oct FYTD FYTD Monthly Growth FYTD Growth 2018 2017 2018-19 2017-18 Total General Fund $2

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MTR-2018-1.pdf

255.3 Fines, Penalties & Interest 6.7 5.6 52.8 51.7 19.4 2.0 GENERAL FUND REVENUES SUMMARY Author: Lauren Mondschein CreationDate: 2018-02-02 16:04:03 ModDate: 2018-02-02 16:04:03 Producer: Microsoft® Publisher

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MTR-2018-09.pdf

in millions. Growth rates computed from same time period in previous year and use the unrounded amounts. GENERAL FUND REVENUES SUMMARY Revenue Source Sept Sept FYTD FYTD Monthly Growth FYTD Growth 2018 2017 2018-19 2017-18 Total General Fund $3

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MTR-2018-08.pdf

in millions. Growth rates computed from same time period in previous year and use the unrounded amounts. GENERAL FUND REVENUES SUMMARY Revenue Source Aug Aug FYTD FYTD Monthly Growth FYTD Growth 2018 2017 2018-19 2017-18 Total General Fund $2

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MTR-2018-07.pdf

in millions. Growth rates computed from same time period in previous year and use the unrounded amounts. GENERAL FUND REVENUES SUMMARY Revenue Source July July FYTD FYTD Monthly Growth FYTD Growth 2018 2017 2018-19 2017-18 Total General Fund $2

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MTR-2018-06.pdf

in millions. Growth rates computed from same time period in previous year and use the unrounded amounts. GENERAL FUND REVENUES SUMMARY Revenue Source June June FYTD FYTD Monthly Growth FYTD Growth 2018 2017 2017-18 2016-17 Total General Fund $3

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MTR-2018-05.pdf

in millions. Growth rates computed from same time period in previous year and use the unrounded amounts. GENERAL FUND REVENUES SUMMARY Revenue Source May May FYTD FYTD Monthly Growth FYTD Growth 2018 2017 2017-18 2016-17 Total General Fund $2

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MTR-2018-04.pdf

in millions. Growth rates computed from same time period in previous year and use the unrounded amounts. GENERAL FUND REVENUES SUMMARY Revenue Source April April FYTD FYTD Monthly Growth FYTD Growth 2018 2017 2017-18 2016-17 Total General Fund $3

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MTR-2018-03.pdf

a. Fines, Pen. & Int. - Total 7.3 6.0 66.2 64.3 21.2 2.9 GENERAL FUND REVENUES SUMMARY Author: RFlaugh CreationDate: 2018-04-06 13:07:29 Creator: PScript5.dll Version 5.2.2 ModDate: 2018-04-06

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MTR-2018-02.pdf

a. Fines, Pen. & Int. - Total 6.2 6.6 59.0 58.4 -6.2 1.0 GENERAL FUND REVENUES SUMMARY Author: Lauren Mondschein CreationDate: 2018-03-01 16:50:33 ModDate: 2018-03-01 16:50:33 Producer: Microsoft® Publisher

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MTR-2017-12.pdf

43.6 Fines, Penalties & Interest 9.0 7.3 46.0 46.1 23.4 -0.2 GENERAL FUND REVENUES SUMMARY Author: Lauren Mondschein CreationDate: 2018-01-05 14:46:42 ModDate: 2018-01-05 14:46:42 Producer: Microsoft® Publisher

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MTR-2017-11.pdf

48.1 Fines, Penalties & Interest 6.8 7.8 37.0 38.8 -12.7 -4.6 GENERAL FUND REVENUES SUMMARY Author: Lauren Mondschein CreationDate: 2017-12-08 15:51:13 ModDate: 2017-12-08 15:51:13 Producer: Microsoft® Publisher

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MTR-2017-10.pdf

6 -51.5 Fines, Pen. & Int. - Total 7 7 7 30 31 30 5.3 -2.6 GENERAL FUND REVENUES SUMMARY Author: Lauren Mondschein CreationDate: 2017-11-03 14:18:35 ModDate: 2017-11-03 14:18:35 Producer: Microsoft® Publisher

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MTR-2017-09.pdf

5 -57.6 Fines, Pen. & Int. - Total 7 7 7 23 24 23 -5.4 -4.8 GENERAL FUND REVENUES SUMMARY Author: jbushman CreationDate: 2017-10-06 13:17:16 Creator: PScript5.dll Version 5.2.2 ModDate: 2017-10-06

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MTR-2017-08.pdf

6 (66.7) Fines, Pen. & Int. - Total 8 8 8 16 17 15 4.6 (4.5) GENERAL FUND REVENUES SUMMARY Author: Lauren Mondschein CreationDate: 2017-09-05 16:46:45 ModDate: 2017-09-05 16:46:45 Producer: Microsoft® Publisher

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MTR-2017-07.pdf

4) (83.4) Fines, Pen. & Int. - Total 8 9 8 8 9 8 (12.7) (12.7) GENERAL FUND REVENUES SUMMARY Author: Lauren Mondschein CreationDate: 2017-08-04 12:46:38 ModDate: 2017-08-04 12:46:38 Producer: Microsoft® Publisher

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MTR-2017-06.pdf

Dollar amounts in millions. Growth rates computed from the same time period from the previous year. Pennsylvania General Fund Revenues Summary Revenue Source June June June FYTD FYTD FYTD Monthly Growth FYTD Growth 2017 2016 2015 2016-17 2015-16 2014-

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MTR-2017-05.pdf

Dollar amounts in millions. Growth rates computed from the same time period from the previous year. Pennsylvania General Fund Revenues Summary Revenue Source May May May FYTD FYTD FYTD Monthly Growth FYTD Growth 2017 2016 2015 2016-17 2015-16 2014-

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MTR-2017-04.pdf

Dollar amounts in $ millions. Growth rates computed from the same time period from the previous year. Pennsylvania General Fund Revenues Summary Revenue Source April April April FYTD FYTD FYTD Monthly Growth FYTD Growth 2017 2016 2015 2016-17 2015-16 2014-

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MTR-2017-03.pdf

Dollar amounts in $ millions. Growth rates computed from the same time period from the previous year. Pennsylvania General Fund Revenues Summary Revenue Source Mar Mar Mar FYTD FYTD FYTD Monthly Growth FYTD Growth 2017 2016 2015 2016-17 2015-16 2014-

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MTR-2017-02.pdf

Dollar amounts in $ millions. Growth rates computed from the same time period from the previous year. Pennsylvania General Fund Revenues Summary Revenue Source Feb Feb Feb FYTD FYTD FYTD Monthly Growth FYTD Growth 2017 2016 2015 2016-17 2015-16 2014-

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MTR-2017-01.pdf

Dollar amounts in $ millions. Growth rates computed from the same time period from the previous year. Pennsylvania General Fund Revenues Summary Revenue Source Jan Jan Jan FYTD FYTD FYTD Monthly Growth FYTD Growth 2017 2016 2015 2016-17 2015-16 2014-

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MTR-2016-12.pdf

Dollar amounts in $ millions. Growth rates computed from the same time period from the previous year. Pennsylvania General Fund Revenues Summary Revenue Source Dec Dec Dec FYTD FYTD FYTD Monthly Growth FYTD Growth 2016 2015 2014 2016-17 2015-16 2014-

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MTR-2016-11.pdf

Dollar amounts in $ millions. Growth rates computed from the same time period from the previous year. Pennsylvania General Fund Revenues Summary Revenue Source Nov Nov Nov FYTD FYTD FYTD Monthly Growth FYTD Growth 2016 2015 2014 2016-17 2015-16 2014-

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MTR-2016-10.pdf

Note: Dollar amounts in $ millions. Growth rates computed from the same time period from the previous year. General Fund Revenues Summary Revenue Source Oct Oct Oct FYTD FYTD FYTD Monthly Growth FYTD Growth 2016 2015 2014 2016-17 2015-16 2014-

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MTR-2016-09.pdf

Dollar amounts in $ millions. Growth rates computed from the same time period from the previous year. Pennsylvania General Fund Revenues Summary Revenue Source Sep Sep Sep FYTD FYTD FYTD Monthly Growth FYTD Growth 2016 2015 2014 2016-17 2015-16 2014-

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MTR-2016-08.pdf

Dollar amounts in $ millions. Growth rates computed from the same time period from the previous year. Pennsylvania General Fund Revenues Summary Revenue Source Aug Aug Aug FYTD FYTD FYTD Monthly Growth FYTD Growth 2016 2015 2014 2016-17 2015-16 2014-

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MTR-2016-06.pdf

Dollar amounts in $ millions. Growth rates computed from the same time period from the previous year. Pennsylvania General Fund Revenues Summary Revenue Source Jun 2016 Jun 2015 Jun 2014 FYTD 2015-16 FYTD 2014-15 FYTD 2013-14 Jun 2016 Growth

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MTR-2016-05.pdf

14 Sep-14 Jan-15 May-15 Sep-15 Jan-16 May-16 3-month 12-month General Fund Revenues Summary Revenue Source May 2016 May 2015 May 2014 FYTD 2015-16 FYTD 2014-15 FYTD 2013-14 May 2016 Growth

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MTR-2016-04.pdf

Aug- 14 Dec-14 Apr-15 Aug- 15 Dec-15 Apr-16 3-month 12-month Pennsylvania General Fund Revenues Summary Revenue Source Apr 2016 Apr 2015 Apr 2014 FYTD 2015-16 FYTD 2014-15 FYTD 2013-14 Apr 2016 Growth

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MTR-2016-03.pdf

Jul-14 Nov-14 Mar-15 Jul-15 Nov-15 Mar-16 3-month 12-month Pennsylvania General Fund Revenues Summary Revenue Source Mar 2016 Mar 2015 Mar 2014 FYTD 2015-16 FYTD 2014-15 FYTD 2013-14 Mar 2016 Growth

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MTR-2016-02.pdf

Jun-14 Oct-14 Feb-15 Jun-15 Oct-15 Feb-16 3-month 12-month Pennsylvania General Fund Revenues Summary Revenue Source Feb 2016 Feb 2015 Feb 2014 FYTD 2015-16 FYTD 2014-15 FYTD 2013-14 Feb 2016 Growth

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MTR-2016-01.pdf

May-14 Sep-14 Jan-15 May-15 Sep-15 Jan-16 3-month 12-month Pennsylvania General Fund Revenues Summary Revenue Source Jan 2016 Jan 2015 Jan 2014 FYTD 2015-16 FYTD 2014-15 FYTD 2013-14 Jan 2016 Growth

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MTR-2015-11.pdf

Mar-14 Jul-14 Nov-14 Mar-15 Jul-15 Nov-15 3-month 12-month Pennsylvania General Fund Revenues Summary Revenue Source Nov 2015 Nov 2014 Nov 2013 FYTD 2015-16 FYTD 2014-15 FYTD 2013-14 Nov 2015 Growth

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MTR-2015-10.pdf

Feb-14 Jun-14 Oct-14 Feb-15 Jun-15 Oct-15 3-month 12-month Pennsylvania General Fund Revenues Summary Revenue Source Oct 2015 Oct 2014 Oct 2013 FYTD 2015-16 FYTD 2014-15 FYTD 2013-14 Oct 2015 Growth

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MTR-2015-09.pdf

Jan-14 May-14 Sep-14 Jan-15 May-15 Sep-15 3-month 12-month Pennsylvania General Fund Revenues Summary Revenue Source Sept 2015 Sept 2014 Sept 2013 FYTD 2015-16 FYTD 2014-15 FYTD 2013-14 Sept 2015 Growth

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MTR-2015-08.pdf

Dec-13 Apr-14 Aug-14 Dec-14 Apr-15 Aug-15 3-month 12-month Pennsylvania General Fund Revenues Summary Revenue Source Aug 2015 Aug 2014 Aug 2013 FYTD 2015-16 FYTD 2014-15 FYTD 2013-14 Aug 2015 Growth

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MTR-2015-07.pdf

Nov-13 Mar-14 Jul-14 Nov-14 Mar-15 Jul-15 3-month 12-month Pennsylvania General Fund Revenues Summary Revenue Source Jul 2015 Jul 2014 Jul 2013 FYTD 2015-16 FYTD 2014-15 FYTD 2013-14 July 2015 Growth

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MRU_2024_1.pdf

official estimate published on June 20, 2023 and adjusted for tax law changes enacted in December 2023. GENERAL FUND REVENUES SUMMARY Revenue Source Jan Jan FYTD FYTD Monthly FYTD 2024 2023 2023-24 2022-23 Growth Growth Total General Fund $3

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MRU_2023_12.pdf

Note: Dollar amounts in millions. Estimate refers to the IFO official estimate published on June 20, 2023. GENERAL FUND REVENUES SUMMARY Revenue Source Dec Dec FYTD FYTD Monthly FYTD 2023 2022 2023-24 2022-23 Growth Growth Total General Fund $3

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MRU_2023_11.pdf

Note: Dollar amounts in millions. Estimate refers to the IFO official estimate published on June 20, 2023. GENERAL FUND REVENUES SUMMARY Revenue Source Nov Nov FYTD FYTD Monthly FYTD 2023 2022 2023 -24 2022 -23 Growth Growth Total General Fund $3

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MRU_2023_10.pdf

Note: Dollar amounts in millions. Estimate refers to the IFO official estimate published on June 20, 2023. GENERAL FUND REVENUES SUMMARY Revenue Source Oct Oct FYTD FYTD Monthly FYTD 2023 2022 2023-24 2022-23 Growth Growth Total General Fund $3

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MRU_2023_09.pdf

Note: Dollar amounts in millions. Estimate refers to the IFO official estimate published on June 20, 2023. GENERAL FUND REVENUES SUMMARY Revenue Source Sep Sep FYTD FYTD Monthly FYTD 2023 2022 2023-24 2022-23 Growth Growth Total General Fund $4

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MRU_2023_08.pdf

Note: Dollar amounts in millions. Estimate refers to the IFO official estimate published on June 20, 2023. GENERAL FUND REVENUES SUMMARY Revenue Source August August FYTD FYTD Monthly FYTD 2023 2022 2023-24 2022-23 Growth Growth Total General Fund $2

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MRU_2023_07.pdf

98.7 n.a. n.a. 98.7 n.a. n.a. Note: Dollar amounts in millions. GENERAL FUND REVENUES SUMMARY Revenue Source July July FYTD FYTD Monthly FYTD 2023 2022 2023-24 2022-23 Growth Growth Total General Fund $2

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MRU_2023_06.pdf

4 Dollar amounts in millions. Estimate refers to the IFO official estimate published on September 1, 2022. GENERAL FUND REVENUES SUMMARY Revenue Source June June FYTD FYTD Monthly FYTD 2023 2022 2022-23 2021-22 Growth Growth Total General Fund $3

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MRU_2023_05.pdf

5 Dollar amounts in millions. Estimate refers to the IFO official estimate published on September 1, 2022. GENERAL FUND REVENUES SUMMARY Revenue Source May May FYTD FYTD Monthly FYTD 2023 2022 2022-23 2021-22 Growth Growth Total General Fund $3

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MRU_2023_02.pdf

0 Dollar amounts in millions. Estimate refers to the IFO official estimate published on September 1, 2022. GENERAL FUND REVENUES SUMMARY Revenue Source Feb Feb FYTD FYTD Monthly FYTD 2023 2022 2022-23 2021-22 Growth Growth Total General Fund $2

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MRU_2022_12.pdf

0 Dollar amounts in millions. Estimate refers to the IFO official estimate published on September 1, 2022. GENERAL FUND REVENUES SUMMARY Revenue Source Dec Dec FYTD FYTD Monthly FYTD 2022 2021 2022-23 2021-22 Growth Growth Total General Fund $4

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MRU_2022_04.pdf

93.3 Dollar amounts in millions. Estimate refers to the IFO official estimate published in August 2021. GENERAL FUND REVENUES SUMMARY Revenue Source Apr Apr FYTD FYTD Monthly FYTD 2022 2021 2021-22 2020-21 Growth Growth Total General Fund $6

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MRU_2022_03.pdf

108.2 Dollar amounts in millions. Estimate refers to the IFO official estimate published in August 2021. GENERAL FUND REVENUES SUMMARY Revenue Source Mar Mar FYTD FYTD Monthly FYTD 2022 2021 2021-22 2020-21 Growth Growth Total General Fund $5

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MRU_2022_02.pdf

77.6 Dollar amounts in millions. Estimate refers to the IFO official estimate published in August 2021. GENERAL FUND REVENUES SUMMARY Revenue Source Feb Feb FYTD FYTD Monthly FYTD 2022 2021 2021-22 2020-21 Growth Growth Total General Fund $2

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MRU_2021_11.pdf

63.0 Dollar amounts in millions. Estimate refers to the IFO official estimate published in August 2021. GENERAL FUND REVENUES SUMMARY Revenue Source Nov Nov FYTD FYTD Monthly FYTD 2021 2020 2021-22 2020-21 Growth Growth Total General Fund $6

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MRU_2021_10.pdf

62.9 Dollar amounts in millions. Estimate refers to the IFO official estimate published in August 2021. GENERAL FUND REVENUES SUMMARY Revenue Source Oct Oct FYTD FYTD Monthly FYTD 2021 2020 2021-22 2020-21 Growth Growth Total General Fund $2

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MRU_2021_09.pdf

40.2 Dollar amounts in millions. Estimate refers to the IFO official estimate published in August 2021. GENERAL FUND REVENUES SUMMARY Revenue Source Sept Sept FYTD FYTD Monthly FYTD 2021 2020 2021-22 2020-21 Growth Growth Total General Fund $4

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MRU_2021_08.pdf

10.0 Dollar amounts in millions. Estimate refers to the IFO official estimate published in August 2021. GENERAL FUND REVENUES SUMMARY Revenue Source Aug Aug FYTD FYTD Monthly FYTD 2021 2020 2021-22 2020-21 Growth Growth Total General Fund $2

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MRU_2021_07.pdf

amounts in millions. Estimate refers to the IFO official estimate that will be published in August 2021. GENERAL FUND REVENUES SUMMARY Revenue Source July July FYTD FYTD Monthly FYTD 2021 2020 2021-22 2020-21 Growth Growth Total General Fund $2

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MRU_2021_05.pdf

s revised Official Estimate published in January 2021 and the associated monthly distributions published in February 2021. GENERAL FUND REVENUES SUMMARY Revenue Source May May FYTD FYTD Monthly FYTD 2021 2020 2020-21 2019-20 Growth Growth Total General Fund $3

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MRU_2021_04.pdf

s revised Official Estimate published in January 2021 and the associated monthly distributions published in February 2021. GENERAL FUND REVENUES SUMMARY Revenue Source Apr Apr FYTD FYTD Monthly FYTD 2021 2020 2020-21 2019-20 Growth Growth Total General Fund $3

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MRU_2021_03.pdf

s revised Official Estimate published in January 2021 and the associated monthly distributions published in February 2021. GENERAL FUND REVENUES SUMMARY Revenue Source Mar Mar FYTD FYTD Monthly FYTD 2021 2020 2020-21 2019-20 Growth Growth Total General Fund $4

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MRU_2021_02.pdf

s revised Official Estimate published in January 2021 and the associated monthly distributions published in February 2021. GENERAL FUND REVENUES SUMMARY Revenue Source Feb Feb FYTD FYTD Monthly FYTD 2021 2020 2020-21 2019-20 Growth Growth Total General Fund 2

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MRU_2021_01.pdf

3 Dollar amounts in millions. Estimate refers to the revised IFO Official Estimate published in January 2021. GENERAL FUND REVENUES SUMMARY Revenue Source Jan Jan FYTD FYTD Monthly FYTD 2021 2020 2020-21 2019-20 Growth Growth Total General Fund $2

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MRU_2020_11.pdf

the IFO Official Estimate published in June 2020 and the associated monthly distributions published in August 2020. GENERAL FUND REVENUES SUMMARY Revenue Source Nov Nov FYTD FYTD Monthly FYTD 2020 2019 2020-21 2019-20 Growth Growth Total General Fund $2

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MRU-2023-04.pdf

3 Dollar amounts in millions. Estimate refers to the IFO official estimate published on September 1, 2022. GENERAL FUND REVENUES SUMMARY Revenue Source April April FYTD FYTD Monthly FYTD 2023 2022 2022-23 2021-22 Growth Growth Total General Fund $5

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MRU-2023-03.pdf

9 Dollar amounts in millions. Estimate refers to the IFO official estimate published on September 1, 2022. GENERAL FUND REVENUES SUMMARY Revenue Source Mar Mar FYTD FYTD Monthly FYTD 2023 2022 2022-23 2021-22 Growth Growth Total General Fund $6

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MRU-2023-01.pdf

1 Dollar amounts in millions. Estimate refers to the IFO official estimate published on September 1, 2022. GENERAL FUND REVENUES SUMMARY Revenue Source Jan Jan FYTD FYTD Monthly FYTD 2023 2022 2022-23 2021-22 Growth Growth Total General Fund $3

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MRU-2022-11.pdf

5 Dollar amounts in millions. Estimate refers to the IFO official estimate published on September 1, 2022. GENERAL FUND REVENUES SUMMARY Revenue Source Nov Nov FYTD FYTD Monthly FYTD 2022 2021 2022-23 2021-22 Growth Growth Total General Fund $2

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MRU-2022-10.pdf

1 Dollar amounts in millions. Estimate refers to the IFO official estimate published on September 1, 2022. GENERAL FUND REVENUES SUMMARY Revenue Source Oct Oct FYTD FYTD Monthly FYTD 2022 2021 2022-23 2021-22 Growth Growth Total General Fund $3

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MRU-2022-09.pdf

9 Dollar amounts in millions. Estimate refers to the IFO official estimate published on September 1, 2022. GENERAL FUND REVENUES SUMMARY Revenue Source Sep Sep FYTD FYTD Monthly FYTD 2022 2021 2022-23 2021-22 Growth Growth Total General Fund $4

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MRU-2022-08.pdf

8 Dollar amounts in millions. Estimate refers to the IFO official estimate published on September 1, 2022. GENERAL FUND REVENUES SUMMARY Revenue Source Aug Aug FYTD FYTD Monthly FYTD 2022 2021 2022 -23 2021 -22 Growth Growth Total General Fund $2

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MRU-2022-07.pdf

amounts in millions. Estimate refers to the IFO official estimate that will be published in August 2022. GENERAL FUND REVENUES SUMMARY Revenue Source July July FYTD FYTD Monthly FYTD 2022 2021 2022-23 2021-22 Growth Growth Total General Fund $2

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MRU-2022-06.pdf

87.4 Dollar amounts in millions. Estimate refers to the IFO official estimate published in August 2021. GENERAL FUND REVENUES SUMMARY Revenue Source June June FYTD FYTD Monthly FYTD 2022 2021 2021-22 2020-21 Growth Growth Total General Fund $4

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MRU-2022-05.pdf

62.8 Dollar amounts in millions. Estimate refers to the IFO official estimate published in August 2021. GENERAL FUND REVENUES SUMMARY Revenue Source May May FYTD FYTD Monthly FYTD 2022 2021 2021-22 2020-21 Growth Growth Total General Fund $3

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MRU-2022-01.pdf

74.2 Dollar amounts in millions. Estimate refers to the IFO official estimate published in August 2021. GENERAL FUND REVENUES SUMMARY Revenue Source Jan Jan FYTD FYTD Monthly FYTD 2022 2021 2021-22 2020-21 Growth Growth Total General Fund $3

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MRU-2021-12.pdf

68.2 Dollar amounts in millions. Estimate refers to the IFO official estimate published in August 2021. GENERAL FUND REVENUES SUMMARY Revenue Source Dec Dec FYTD FYTD Monthly FYTD 2021 2020 2021-22 2020-21 Growth Growth Total General Fund $3

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MRU-2021-06.pdf

s revised Official Estimate published in January 2021 and the associated monthly distributions published in February 2021. GENERAL FUND REVENUES SUMMARY Revenue Source June June FYTD FYTD Monthly FYTD 2021 2020 2020-21 2019-20 Growth Growth Total General Fund $3

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MRU-2020-3.pdf

25.6 Note: Dollar amounts in millions. Estimate refers to IFO official estimate published in June 2019. GENERAL FUND REVENUES SUMMARY Revenue Source Mar Mar FYTD FYTD Monthly FYTD 2020 2019 2019-20 2018-19 Growth Growth Total General Fund $4

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MRU-2020-12.pdf

the IFO Official Estimate published in June 2020 and the associated monthly distributions published in August 2020. GENERAL FUND REVENUES SUMMARY Revenue Source Dec Dec FYTD FYTD Monthly FYTD 2020 2019 2020-21 2019-20 Growth Growth Total General Fund $3

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MRU-2020-10.pdf

the IFO Official Estimate published in June 2020 and the associated monthly distributions published in August 2020. GENERAL FUND REVENUES SUMMARY Revenue Source Oct Oct FYTD FYTD Monthly FYTD 2020 2019 2020-21 2019-20 Growth Growth Total General Fund $2

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MRU-2020-09.pdf

the IFO Official Estimate published in June 2020 and the associated monthly distributions published in August 2020. GENERAL FUND REVENUES SUMMARY Revenue Source Sept Sept FYTD FYTD Monthly FYTD 2020 2019 2020-21 2019-20 Growth Growth Total General Fund $3

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MRU-2020-08.pdf

4 -7.6 Dollar amounts in millions. Estimate refers to IFO official estimate published in August 2020. GENERAL FUND REVENUES SUMMARY Revenue Source Aug Aug FYTD FYTD Monthly FYTD 2020 2019 2020-21 2019-20 Growth Growth Total General Fund $2

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MRU-2020-07.pdf

Dollar amounts in millions. Estimate refers to IFO official estimate that will be published in August 2020. GENERAL FUND REVENUES SUMMARY Revenue Source July July FYTD FYTD Monthly FYTD 2020 2019 2020-21 2019-20 Growth Growth Total General Fund $4

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MRU-2020-06.pdf

42.5 Note: Dollar amounts in millions. Estimate refers to IFO official estimate published in June 2019. GENERAL FUND REVENUES SUMMARY Revenue Source June June FYTD FYTD Monthly FYTD 2020 2019 2019-20 2018-19 Growth Growth Total General Fund $2

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MRU-2020-05.pdf

2 1.3 Dollar amounts in millions. Estimate refers to IFO official estimate published in June 2019. GENERAL FUND REVENUES SUMMARY Revenue Source May May FYTD FYTD Monthly FYTD 2020 2019 2019-20 2018-19 Growth Growth Total General Fund $2

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MRU-2020-04.pdf

12.4 Note: Dollar amounts in millions. Estimate refers to IFO official estimate published in June 2019. GENERAL FUND REVENUES SUMMARY Revenue Source Apr Apr FYTD FYTD Monthly FYTD 2020 2019 2019-20 2018-19 Growth Growth Total General Fund $2

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IFO_Pension_Analysis_Policies_(January_1_2024).pdf

contract with other actuaries or financial consultants. In general, an IFO response to a legislative request provides (1) a brief summary of the legislation and (2) a synopsis of any analysis included in the transmission to the General Assembly. The IFO

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IFO_Job_Opportunity_Revenue_Analyst.pdf

in published reports and estimates. The IFO hires staff based solely on professional qualifications, without regard to political affiliation. Position Summary A Revenue Analyst I is responsible for the analysis, monitoring and tracking of assigned revenue and budget area(s). Analysts

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IFO_Job_Opportunity_Deputy_Director.pdf

in published reports and estimates. The IFO hires staff based solely on professional qualifications, without regard to political affiliation. Position Summary The deputy director is a senior manager that assists the director in the day-to-day operations of the IFO

Hits: 1

IFO_Hearing_Materials_Feb_22_2022.pdf

U.S. Centers for Disease Control and Prevention. Pennsylvania Demographic Snapshot Number of Residents (000s) Avg. Annual Growth Age Cohort Summary Note: Thousands of residents. Detail may not sum to total due to rounding. Table data are from the IFO's

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IFO_Hearing_8-30-2017.pdf

various economic, revenue or fiscal analyses. IFO Reports and Analyses Regular Monthly or Quarterly Reports • Monthly Trends Report. Provides a summary of recent economic trends for the U.S. and Pennsylvania. Displays monthly and fiscal year-to-date revenues and compares

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IFO-Presentation-11-14-2019.pdf

billions of dollars. Includes a requested $779 supplemental for FY 19-20. assumes no one-time shifts new SUT transfer Summary and Outlook Structural deficit lower than last year’s report  Roughly $500 million lower by final year  Pick

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House_Appropriation_Response_Letter_3_17_2021.pdf

alcohol and/or other drugs. California -- March 17, 2021 Page 5 Potential Cost Savings In response to the request, this summary detailed the negative externalities and costs associated with recreational marijuana legalization. There are also cost savings associated with reduced illegal

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Five_Year_Outlook_2020_Presentation_Final.pdf

488 -2,330 -1,961 Note: Millions of dollars. Prior year lapses include transfers to the Budget Stabilization Reserve Fund. Summary Top 2020 economic terms: “unprecedented” and “unchartered waters”  But both are true | we have not seen this dichotomy before

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Five_Year_Outlook_2017_Presentation.pdf

Improvement in General Fund Ending Balances $1,824 $811 $875 $1,091 $1,032 Note: figures in dollar millions. Revenue Summary 32,397 33,492 34,525 35,798 36,875 37,635 2,303 216 140 91 77 72 $28

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Five_Year_Outlook_2016_IFO_PPT.pdf

Increases / Loan Repayments / Funding Shifts $1,059 $656 $412 $211 $121 $41 Note: figures in dollar millions. Long-Term Outlook Summary Main elements driving the structural imbalance are unchanged.  Demographic trends affect revenues and expenditures.  Slow tax base erosion

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Economic_and_Revenue_Update_2020_10.pdf

2020. All forecasts in this section are by the IFO. Pennsylvania Economic Forecast Table 1.1 displays a summary of the Pennsylvania economic forecast used by the IFO for its Official Revenue Estimate (released June 2020) and this October update. Compared

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Demographics_Outlook_2023.pdf

and U.S. CDC. Note: Detail may not sum to total due to rounding. Number of Residents (000s) Age Cohort Summary Total Growth Demographic Trends by Age Group | Page 5 Figure 2.1 displays the Pennsylvania population distribution for 2020 and

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Demographics_Outlook_2021.pdf

CDC. Note: Thousands of residents. Detail may not sum to total due to rounding. Number of Residents (000s) Age Cohort Summary Avg. Annual Growth Demographic Trends by Age Group | Page 5 Pennsylvania Population Distribution Figure 2.1 displays the Pennsylvania projected

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Demographics_Outlook_2020.pdf

Thousands of residents. Detail may not sum to total due to rounding. Number of Residents (000s) Age Cohort Summary Avg. Annual Growth Demographic Trends by Age Group | Page 5 Pennsylvania Population Distribution Figure 2.1 displays the Pennsylvania projected population distribution

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Budget_Hearing_Background-Feb2014.pdf

reports published by the office are available on its website at www.ifo.state.pa.us. 3 Independent Fiscal Office – Summary of Revenue Estimates FY 2013-14 IFO Official Revenue Estimate ($ millions) Revenue Source Estimate Growth General Fund - Total $29,154

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2024_Wage_Contract_Summary_Table.pdf

dollar millions. Fiscal impact includes wages, benefits and healthcare costs. Agreements with missing figures will be populated when the contract summaries and data are received from the Office of Administration. Budget Impact of Collective Bargaining Agreements CreationDate: 2024-02-16 14

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2019_Wage_Contract_Summary_Table.pdf

dollar millions. Fiscal impact includes wages, benefits and healthcare costs. Agreements with missing figures will be populated when the contract summaries and data are received from the Office of Administration. The estimates for non-represented and management assume that the AFSCME

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2018_Mid-Year_Update.pdf

corporations do with tax cut?  How quickly does it show up in the PA economy? 29.Jan.2018 26 Summary Author: Lauren Mondschein Company: Microsoft CreationDate: 2018-01-30 19:03:33 Creator: Acrobat PDFMaker 15 for PowerPoint ModDate: 2018-

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2013-09 Monthly Economic Summary-FINAL.pdf

2 ModDate: 2013-10-01 14:37:47 Producer: Acrobat Distiller 10.1.8 (Windows) Title: 2013-09 Monthly Economic Summary

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2013-08 Monthly Economic Summary.pdf

2 ModDate: 2013-08-30 15:09:17 Producer: Acrobat Distiller 10.1.7 (Windows) Title: 2013-08 Monthly Economic Summary

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2013-07 Monthly Economic Summary.pdf

2 ModDate: 2013-08-05 13:04:22 Producer: Acrobat Distiller 10.1.7 (Windows) Title: 2013-07 Monthly Economic Summary

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2013-06 Monthly Economic Summary - FINAL.pdf

2 ModDate: 2013-06-28 17:57:55 Producer: Acrobat Distiller 10.1.7 (Windows) Title: 2013-06 Monthly Economic Summary

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2013-03b Monthly Economic Summary.pdf

2 ModDate: 2013-04-01 16:46:13 Producer: Acrobat Distiller 10.1.5 (Windows) Title: 2013-03 Monthly Economic Summary

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2013-02 Monthly Economic Report.pdf

2 ModDate: 2013-02-28 17:51:32 Producer: Acrobat Distiller 10.1.5 (Windows) Title: 2013-02 Monthly Economic Summary

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2013-01 Monthly Economic Report.pdf

2 ModDate: 2013-02-01 16:55:34 Producer: Acrobat Distiller 10.1.5 (Windows) Title: 2013-1 Monthly Economic Summary

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