Publications: Monthly Revenue Reports

This publication provides detail regarding General Fund revenues for the month of April.

This publication provides detail regarding General Fund revenues for the month of March.

This publication provides detail regarding General Fund revenues for the month of February.

This document provides detail regarding General Fund revenues for the month of January.

This document provides detail regarding General Fund revenues for the month of December.

This document provides detail regarding General Fund revenues for the month of October.

This document provides detail regarding General Fund revenues for the month of September.

This document provides detail regarding General Fund revenues for the month of August.

This document provides detail regarding General Fund revenues for the month of June.

This document provides detail regarding General Fund revenues for the month of May.

This document provides detail regarding General Fund revenues for the month of April.

This document provides detail regarding General Fund revenues for the month of March.

This document provides detail regarding General Fund revenues for the month of January.

This document provides detail regarding General Fund revenues for the month of December.

This document provides detail regarding General Fund revenues for the month of November.

This document provides detail regarding General Fund revenues for the month of October.

This document provides detail regarding General Fund revenues for the month of September.

This document provides detail regarding General Fund revenues for the month of August.

This document provides detail regarding General Fund revenues for the month of June.

This document provides detail regarding General Fund revenues for the month of May.

This document provides detail regarding General Fund revenues for the month of April.

This document provides detail regarding General Fund revenues for the month of March.

This document provides detail regarding General Fund revenues for the month of February.

This document provides detail regarding January revenue collections.

This document provides detail regarding December revenue collections.

The 2016/17 fiscal year closed last week with June revenues slightly above estimate, but General Fund revenues as a whole finished $1.1 billion lower than projected. As was the case for most of the year, all of the three major tax types - personal income, sales, and corporate net income – finished below estimate.

The good news? The commonwealth collected more revenue in May than expected. The bad news? We still have a significant shortfall. This document provides more detail on the revenue picture.

April revenues finished well below estimate. The month’s shortfall of $537 million means the year-to-date shortfall is $1.216 billion, which exceeds the assumptions for Gov. Wolf’s executive budget proposal and the House Republican budget in HB 218.

March is the largest revenue month for the General Fund due to large corporation tax payments. However, revenues moved lower again and fell short of estimate by $229.6 million. The year-to-date revenue shortfall is now $679.3 million, or 2.9 percent. This document provides more detail on the revenue picture.

Budget hearings continue in the capitol, and our Democratic members of the House Appropriations Committee heard testimony last week from the Department of Revenue and the Independent Fiscal Office indicating that the General Fund will continue to fall short of estimate for the balance of 2016/17. This document provides more detail on the revenue picture.

On the eve of Gov. Wolf’s budget address next week, General Fund revenues edged lower again in January, falling to $49.8 million below the official estimate and bringing the year-to-date revenue shortfall to $416.8 million. Gov. Wolf will present the Department of Revenue’s updated revenue forecast as part of the executive budget as well as his strategy to close the gap on Tuesday, Feb. 7. This document provides more detail on the revenue picture.

General Fund revenues closed out 2015/16 on a disappointing and concerning note: June revenues finished $67.2 million below the official estimate. The month’s performance reduced the year-end revenue surplus, which was $97 million at the end of May, to just $29.9 million in June.

Total General Fund collections in June were $206.7 million, or 6.6 percent, less than expected. Total General Fund collections for the 2014/15 fiscal year totaled $30.59 billion, which was $412.2 million, or 1.4 percent, above than the official estimate.