The PA Department of Revenue released the September revenue collection numbers today showing that an economic recovery from COVID appears to be happening faster than original projections.
On the overall state budget side, it was reported that Pennsylvania collected $3.3 billion in General Fund revenue in September, which was $248.7 million, or 8.3 percent, more than anticipated, Revenue Secretary Dan Hassell reported that fiscal year-to-date General Fund collections total $9.9 billion, which is $459 million, or 4.9 percent, above estimate. He also stated that revenue collections are ahead of estimate to this point due to better than expected economic activity through the first quarter of the fiscal year.
As for the state’s Motor License Fund (MLF) it appears that collections were slightly off but not catastrophically as originally predicted. The MLF received $216.7 million for the month, $6.1 million below estimate. Collections for the fiscal year-to-date are $770 million, which is $0.3 million, or essentially right at estimate.
MLF revenues are still outpacing collections when compared to the same point in time last year (through September 2019), which is pre-COVID pandemic impacts. In September 2019, it was reported that the YTD collections were $687.9 million.
APC continues to monitor these figures to determine if their initial two-year, $800 million impact to the MLF—and subsequently the 2020-21 Letting Schedule—is still anticipated as reported by PennDOT earlier this year.