
(The Center Square) — In a self-review, the Independent Fiscal Office found its state revenue projections to be pretty spot-on.
In fiscal year 2022–23, IFO estimates had a $2.7 billion (6.1%) difference from actual revenues — but 2023–24 was much closer, with only a $273 million (0.6%) difference from actual revenues.
Difficulties from the pandemic had made predictions trickier, but the last fiscal year was the closest forecast since 2017–18.
“For four of the twelve fiscal years, the IFO official estimate has been roughly within one-half percentage point of act …