As revenue projections hold, IFO sees continued weakness in sales tax growth

As revenue projections hold, IFO sees continued weakness in sales tax growth

Appearing before the House State Government Committee Wednesday to brief members on their current and legislatively proposed job functions, the Independent Fiscal Office reported that while their current year revenue projections are holding firm, there is continued weakness in sales tax growth that is ultimately adding to undermined General Fund revenue collections.

Wednesday, August 30, 2017/Author: Jason Gottesman
Categories: News and Views
A week of woe for Pennsylvania’s fiscal health

A week of woe for Pennsylvania’s fiscal health

While last week’s election brought the prospect for change at the national level, the week following the election in Pennsylvania brought more of the same in terms of legislative leadership and, more importantly, Pennsylvania’s fiscal outlook.

 

The negative news concerning the current state of Pennsylvania’s budget and a depressing future outlook began Tuesday when the Independent Fiscal Office provided its five-year financial outlook that noted budget deficits are only likely to increase from $1.7 billion for FY 2017-2018 to $3 billion in FY 2021-2022.

Thursday, November 17, 2016/Author: Jason Gottesman
Categories: News and Views
IFO’s new revenue estimate pegs FY 2016-2017 revenue at $31.66 billion

IFO’s new revenue estimate pegs FY 2016-2017 revenue at $31.66 billion

The Independent Fiscal Office Wednesday released its final revenue estimate in advance of the end of the fiscal year.

Aside from statutory changes to the Liquor Code recently agreed to by lawmakers that increased their estimate for FY 2016-2017 from their May outlook, revenue estimates for FY 2015-2016 and FY 2016-2017 were lowered.

For FY 2016-2017, without the liquor changes, the base projections were $31 million lower than in May, but with the changes, the estimate for the next fiscal year rings in at $31.66 billion.

Wednesday, June 15, 2016/Author: Jason Gottesman
Categories: News and Views

A Closer Look: The Independent Fiscal Office with Director Matthew Knittel

The PLS Reporter sat down with Matthew Knittel, director of the Independent Fiscal Office, to take a deeper look at what the IFO does and how it operates.

Knittel discussed a history of the agency since its formation in 2010 and the various reports completed by the office and other accomplishments since its inception.

Wednesday, November 5, 2014/Author: Josh Levy
Categories: News and Views
VIDEO: Combined FY 13-14, 14-15 Executive Revenue Estimates Off $1.3 Billion, IFO States in Initial Revenue Estimate

VIDEO: Combined FY 13-14, 14-15 Executive Revenue Estimates Off $1.3 Billion, IFO States in Initial Revenue Estimate

The Independent Fiscal Office (IFO) Thursday unveiled its initial revenue estimate for the current and upcoming fiscal years.

Thursday, May 1, 2014/Author: The PLS Reporter
Categories: Video
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