IFO Releases
Revenue Estimate Performance
September 03, 2020 | Revenue Estimates
This report examines the performance of IFO revenue estimates for the past eight budget cycles.
Tags: estimates, performance, revenue
Monthly and Quarterly Revenue Estimates
August 27, 2020 | Revenue Estimates
This report provides revenue distributions based on the FY 2020-21 projections contained in the Official Revenue Estimate published by the IFO on June 22, 2020. They reflect the statutory changes that were enacted with the FY 2020-21 state budget.
August 2020 Economic and Revenue Update
August 19, 2020 | Revenue Estimates
Director Matthew Knittel provided a brief economic and revenue update to members of the Senate Appropriations Committee (Democrat).
Official Revenue Estimate FY 2020-21
June 22, 2020 | Revenue Estimates
This report provides revised revenue estimates for FY 2019-20 and official estimates for FY 2020-21 related to the General Fund, Motor License Fund, Lottery Fund and federal funds subject to appropriation.
Initial Revenue Estimate FY 2020-21
May 26, 2020 | Revenue Estimates
The initial revenue estimate for FY 2020-21 and updated estimates for FY 2019-20 are included.
Initial Revenue Estimate FY 2020-21 Presentation
May 26, 2020 | Revenue Estimates
Director Matthew Knittel made a presentation on the initial revenue estimate for FY 2020-21 and updated estimates for FY 2019-20.
Tags: estimates, presentation, revenue
IFO Public Briefing: Initial Revenue Estimate FY 2020-21
May 19, 2020 | Revenue Estimates
The Independent Fiscal Office will release an updated revenue estimate for FY 2019-20 and an initial revenue estimate for FY 2020-21. The briefing is open to the public and submitted questions will be addressed at the end of the presentation. The report will also be posted to the IFO website when the presentation concludes. Click on the link for details on how to register.
Tags: estimates, presentation, revenue
Analysis of Revenue Proposals in the 2020-21 Executive Budget
April 23, 2020 | Revenue Estimates
This report provides estimates for the revenue proposals contained in the 2020-21 Executive Budget released February 2020. The Independent Fiscal Office (IFO) publishes this report to fulfill its statutory duties as provided under 71 Pa.C.S. § 4104. The act requires that the IFO “provide an analysis, including economic impact, of all tax and revenue proposals submitted by the Governor or the Office of the Budget.”
Projected Revenue Impact of COVID-19
April 08, 2020 | Revenue Estimates
The IFO released an updated revenue projection for FY 2019-20 and a preliminary projection for FY 2020-21 using two scenarios for business closures due to the COVID-19 virus. The release also discusses the impact on economic growth rates and federal stimulus monies that are projected to flow into the state economy.
Mid-Year Update FY 2019-20
January 28, 2020 | Revenue Estimates
The Independent Fiscal Office (IFO) has released a mid-year update of its revenue estimate for fiscal year (FY) 2019-20. The revised estimate is $35.738 billion, which is $220 million higher than the IFO’s official estimate. As part of the mid-year update, the IFO also provides an advance look at revenue projections for the next fiscal year. For FY 2020-21, revenues are projected to be $37.117 billion, an increase of 3.9 percent over the current year. The IFO will update the estimate in its next round of revenue projections to be released in late May.