Department of Finance, FY 2017
November 13, 2017
M/WBE Letter Grade
Letter Grade Overview
The Department of Finance (DOF) had $20.5 million in total M/WBE-eligible spending, primarily composed of professional services (80%). DOF received a D grade, earning a C with women-owned firms, D grades with Asian American and Hispanic American firms, and an F grade with Black-owned firms. In FY 2017, DOF spent $2.8 million with M/WBEs, an increase of $975,000 since FY 2016, $1.0 million since FY 2015, and $1.2 million since FY 2014. In FY 2017, 13.7% of DOF’s spending went to M/WBEs compared to 3.9% in FY 2014.
About DOF
The Department of Finance collects over $35 billion in revenue for the City and assesses more than one million properties currently valued at over $1 trillion.
http://www1.nyc.gov/site/finance/index.page
Agency Fiscal Year 2017 Spending within Local Law 174*
| African American | Asian American | Hispanic American | Women | Non M/WBE | ||||||
|---|---|---|---|---|---|---|---|---|---|---|
| $ | % | $ | % | $ | % | $ | % | $ | ||
| Construction | $0 | 0.00% | $0 | 0.00% | $22,856 | 1626.03% | $0 | 0.00% | $12,285 | |
| Professional Services | $0 | 0.00% | $1,169,707 | No Goal | $77,716 | 5.95% | $210,619 | 7.58% | $14,883,456 | |
| Standard Services | $36,195 | 9.98% | $7,586 | 8.36% | $0 | 0.00% | $746,893 | 247.04% | $2,232,715 | |
| Goods < $100K | $22,858 | 29.62% | $92,156 | 104.50% | $284,992 | 517.07% | $135,353 | 49.12% | $566,964 | |
| Total LL174 Spending | $59,053 | $1,269,450 | $385,564 | $1,092,864 | $17,695,420 | |||||
| Weighted Grade | F | D | D | C | N/A | |||||
$ = the dollar amount spent in the Local Law 174 eligible category. % = the percentage of the Local Law 174 target that was achieved.
* Letter grades are calculated using a weighted average of agency spending across population groups and sectors. All dollars and percents are based on Local Law 174 and exclude categories described in Appendix D: Methodology. For a complete worksheet detailing how this agency grade was calculated, see Appendix B: Worksheets.
M/WBE Letter Grade Worksheet
| Category | C | PS | SS | G |
| African American (AFA) | 8% | 12% | 12% | 7% |
| Asian American (AA) | 8% | No Goal | 3% | 8% |
| Hispanic American (HA) | 4% | 8% | 6% | 5% |
| Women (W) | 18% | 17% | 10% | 25% |
| C: Construction PS: Professional Services. SS: Standard Services G: Goods | ||||
| Weighted % | Score | Avg. Score | Grade |
|---|---|---|---|
| > 80 | 5 | > 4.25 | A |
| > 60 | 4 | > 3.25 | B |
| > 40 | 3 | > 2.25 | C |
| > 20 | 2 | > 1.25 | D |
| < 20 | 1 | < 1.25 | F |
Step 1: Total Eligible Spending Per Industry
| Total Eligible Spending | C | PS | SS | G |
|---|---|---|---|---|
| $20,502,351 | $35,141 | $16,341,499 | $3,023,389 | $1,102,322 |
Step 2: Weighted Matrix (Industry Spending/Total Eligible Spending)
| Category | C | PS | SS | G |
|---|---|---|---|---|
| AFA, HA, W | 0.17% | 79.71% | 14.75% | 5.38% |
| AA | No Goal |
Step 3: Actual LL174 M/WBE Spending
| Category | C | PS | SS | G |
|---|---|---|---|---|
| African American | $0 | $0 | $36,195 | $22,858 |
| Asian American | $0 | $1,169,707 | $7,586 | $92,156 |
| Hispanic American | $22,856 | $77,716 | $0 | $284,992 |
| Women | $0 | $210,619 | $746,893 | $135,353 |
Step 4: Actual Spending Percentage (Actual LL174 M/WBE Spending/Industry Spending)
| Category | C | PS | SS | G |
|---|---|---|---|---|
| African American | 0.00% | 0.00% | 1.20% | 2.07% |
| Asian American | 0.00% | 7.16% | 0.25% | 8.36% |
| Hispanic American | 65.04% | 0.48% | 0.00% | 25.85% |
| Women | 0.00% | 1.29% | 24.70% | 12.28% |
Step 5: LL174 M/WBE Spending as Percentage of Target Achieved (Actual Spending Percentage/LL174 Target)
| Category | C | PS | SS | G |
|---|---|---|---|---|
| African American | 0.00% | 0.00% | 9.98% | 29.62% |
| Asian American | 0.00% | No Goal | 8.36% | 104.50% |
| Hispanic American | 1626.03% | 5.95% | 0.00% | 517.07% |
| Women | 0.00% | 7.58% | 247.04% | 49.12% |
Step 6: Final Score
| Category | C | PS | SS | G |
|---|---|---|---|---|
| African American | 3.06% | F | 1 | 2 |
| Asian American | 33.76% | D | 2 | |
| Hispanic American | 35.33% | D | 2 | |
| Women | 45.11% | C | 3 |
Subcontract Data
| Total Reported Spending | LL174 Eligible Spending | Non Eligible Spending |
|---|---|---|
| Data Received | $409,728 | $3,475,544 |
| LL174 Sub Spending | Construction | Goods | Professional Services | Standard Services | M/WBE Total |
|---|---|---|---|---|---|
| African American | $0 | $0 | $0 | $0 | $0 |
| Asian American | $0 | $0 | $0 | $0 | $0 |
| Hispanic American | $0 | $0 | $0 | $0 | $0 |
| Women | $0 | $0 | $161,788 | $247,940 | $409,728 |
| Industry Total | $0 | $0 | $161,788 | $247,940 | Data Received |
