Department of Finance, FY 2018
October 30, 2018
M/WBE Letter Grade
Letter Grade Overview
The Department of Finance had $25.3 million in total M/WBE-eligible spending, with 0% on construction, 7% on goods, 78% on professional services, and 14% on standard services. DOF received a D grade, earning D grades with Asian American and women-owned firms, and F grades with African American and Hispanic American firms. In FY 18, DOF spent $5.4 million with M/WBEs, an additional $2.6 million since FY 2017. This represents 21.2% M/WBE spending, a 7.6% increase in its M/WBE share since FY 17.
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 2018 Spending within Local Law 174*
| African American | Asian American | Hispanic American | Women | Non M/WBE | ||||||
|---|---|---|---|---|---|---|---|---|---|---|
| $ | % | $ | % | $ | % | $ | % | $ | ||
| Construction | $0 | 0.00% | $0 | 0.00% | $35,000 | 2046.25% | $0 | 0.00% | $7,761 | |
| Professional Services | $19,999 | 0.84% | $4,057,246 | No Goal | $0 | 0.00% | $172,988 | 5.14% | $15,530,697 | |
| Standard Services | $58,270 | 13.53% | $19,389 | 18.01% | $12,323 | 5.72% | $600,959 | 167.44% | $2,898,089 | |
| Goods < $100K | $34,919 | 26.83% | $83,654 | 56.24% | $175,153 | 188.41% | $99,592 | 21.43% | $1,465,981 | |
| Total LL174 Spending | $113,188 | $4,160,289 | $222,476 | $873,538 | $19,902,529 | |||||
| Weighted Grade | F | D | F | D | 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 |
|---|---|---|---|---|
| $25,272,021 | $42,761 | $19,780,930 | $3,589,030 | $1,859,300 |
Step 2: Weighted Matrix (Industry Spending/Total Eligible Spending)
| Category | C | PS | SS | G |
|---|---|---|---|---|
| AFA, HA, W | 0.17% | 78.27% | 14.20% | 7.36% |
| AA | No Goal |
Step 3: Actual LL174 M/WBE Spending
| Category | C | PS | SS | G |
|---|---|---|---|---|
| African American | $0 | $19,999 | $58,270 | $34,919 |
| Asian American | $0 | $4,057,246 | $19,389 | $83,654 |
| Hispanic American | $35,000 | $0 | $12,323 | $175,153 |
| Women | $0 | $172,988 | $600,959 | $99,592 |
Step 4: Actual Spending Percentage (Actual LL174 M/WBE Spending/Industry Spending)
| Category | C | PS | SS | G |
|---|---|---|---|---|
| African American | 0.00% | 0.10% | 1.62% | 1.88% |
| Asian American | 0.00% | 20.51% | 0.54% | 4.50% |
| Hispanic American | 81.85% | 0.00% | 0.34% | 9.42% |
| Women | 0.00% | 0.87% | 16.74% | 5.36% |
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% | 0.84% | 13.53% | 26.83% |
| Asian American | 0.00% | No Goal | 18.01% | 56.24% |
| Hispanic American | 2046.25% | 0.00% | 5.72% | 188.41% |
| Women | 0.00% | 5.14% | 167.44% | 21.43% |
Step 6: Final Score
| Category | C | PS | SS | G |
|---|---|---|---|---|
| African American | 4.55% | F | 1 | 1.5 |
| Asian American | 30.81% | D | 2 | |
| Hispanic American | 18.14% | F | 1 | |
| Women | 29.38% | D | 2 |
Subcontract Data
| Total Reported Spending | LL174 Eligible Spending | Non Eligible Spending |
|---|---|---|
| $5,021,564 | $495,510 | $4,526,054 |
| 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 | $163,488 | $332,023 | $495,510 |
| Industry Total | $0 | $0 | $163,488 | $332,023 | $5,021,564 |
