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General revenue up in December

Pennsylvania collected $4 billion in General Fund revenue in December, which was $319.9 million, or 8.6%, more than anticipated.

A Tuesday news release from Gov. Tom Wolf’s office and the Department of Revenue said fiscal year-to-date General Fund collections total $19.7 billion, which is $503.1 million, or 2.6%, above estimate.

Pennsylvania ended the most recent fiscal year with $5.537 billion in the General Fund. Additionally, the news release said Wolf has invested more than $5 billion dollars in the Rainy Day Fund.

The majority of the surplus in December is attributable to personal income tax revenue that was deposited on the first day of the month, rather than on the last day of November, as initially expected.

Ultimately, this one-day shift of revenue had a minimal impact on overall General Fund collections, the news release said.

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