Department of Finance, FY 2019
November 17, 2019
M/WBE Letter Grade
Letter Grade Overview
The Department of Finance had $53 million in total M/WBE-eligible spending, with 0% on construction, 43% on professional services, 54% on standard services, and 2% on goods. DOF received a D grade, earning an F grade with African Americans, an A grade with Asian Americans, an F grade with Hispanic Americans, and an F grade with women-owned firms. In FY19, DOF spent $6.5 million with M/WBEs, an additional $1.1 million since FY 2018. This represents 12.2% M/WBE spending, a 9% decrease in its M/WBE share since FY18.
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 2019 Spending within Local Law 174*
| African American | Asian American | Hispanic American | Women | Non M/WBE | ||||||
|---|---|---|---|---|---|---|---|---|---|---|
| $ | % | $ | % | $ | % | $ | % | $ | ||
| Construction | $0 | 0.00% | $0 | 0.00% | $0 | 0.00% | $0 | 0.00% | $35,000 | |
| Professional Services | $0 | 0.00% | $3,208,506 | No Goal | $0 | 0.00% | $317,248 | 8.13% | $19,418,303 | |
| Standard Services | $117,536 | 3.41% | $1,345,166 | 155.89% | $183,582 | 10.64% | $285,620 | 9.93% | $26,831,930 | |
| Goods < $100K | $17,572 | 19.41% | $214,504 | 207.35% | $66,728 | 103.21% | $733,978 | 227.04% | $260,331 | |
| Total LL174 Spending | $135,108 | $4,768,177 | $250,310 | $1,336,846 | $46,545,564 | |||||
| Weighted Grade | F | A | F | F | 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 |
|---|---|---|---|---|
| $53,036,005 | $35,000 | $22,944,057 | $28,763,835 | $1,293,113 |
Step 2: Weighted Matrix (Industry Spending/Total Eligible Spending)
| Category | C | PS | SS | G |
|---|---|---|---|---|
| AFA, HA, W | 0.07% | 43.26% | 54.23% | 2.44% |
| AA | No Goal |
Step 3: Actual LL174 M/WBE Spending
| Category | C | PS | SS | G |
|---|---|---|---|---|
| African American | $0 | $0 | $117,536 | $17,572 |
| Asian American | $0 | $3,208,506 | $1,345,166 | $214,504 |
| Hispanic American | $0 | $0 | $183,582 | $66,728 |
| Women | $0 | $317,248 | $285,620 | $733,978 |
Step 4: Actual Spending Percentage (Actual LL174 M/WBE Spending/Industry Spending)
| Category | C | PS | SS | G |
|---|---|---|---|---|
| African American | 0.00% | 0.00% | 0.41% | 1.36% |
| Asian American | 0.00% | 13.98% | 4.68% | 16.59% |
| Hispanic American | 0.00% | 0.00% | 0.64% | 5.16% |
| Women | 0.00% | 1.38% | 0.99% | 56.76% |
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% | 3.41% | 19.41% |
| Asian American | 0.00% | No Goal | 155.89% | 207.35% |
| Hispanic American | 0.00% | 0.00% | 10.64% | 103.21% |
| Women | 0.00% | 8.13% | 9.93% | 227.04% |
Step 6: Final Score
| Category | C | PS | SS | G |
|---|---|---|---|---|
| African American | 2.32% | F | 1 | 2 |
| Asian American | 157.92% | A | 5 | |
| Hispanic American | 8.29% | F | 1 | |
| Women | 14.44% | F | 1 |
Subcontract Data
| Total Reported Spending | LL174 Eligible Spending | Non Eligible Spending |
|---|---|---|
| $5,822,974 | $606,426 | $5,216,548 |
| LL174 Sub Spending | Construction | Goods | Professional Services | Standard Services | M/WBE Total |
|---|---|---|---|---|---|
| African American | $0 | $0 | $0 | $91,776 | $91,776 |
| Asian American | $0 | $0 | $0 | $0 | $0 |
| Hispanic American | $0 | $0 | $0 | $3,163 | $3,163 |
| Women | $0 | $190,896 | $175,275 | $145,316 | $511,487 |
| Industry Total | $0 | $190,896 | $175,275 | $240,255 | $5,822,974 |
