Department of Finance, FY 2020
December 1, 2020
M/WBE Letter Grade
Letter Grade Overview
The Department of Finance had $53.6 million in total M/WBE-eligible spending, with 0% on construction, 65% on professional services, 31% on standard services, and 4% on goods. DOF received a C grade, earning a D 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 FY 20, DOF spent $9.4 million with M/WBEs, an additional $2.9 million since FY 19. This represents 17.6% M/WBE spending, a 5.3% increase in its M/WBE share since FY 19.
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.
https://www1.nyc.gov/site/finance/about/procurements.page
Agency Fiscal Year 2020 Spending within Local Law 174*
| African American | Asian American | Hispanic American | Women | Non M/WBE | ||||||
|---|---|---|---|---|---|---|---|---|---|---|
| $ | % | $ | % | $ | % | $ | % | $ | ||
| Construction | $0 | 0.00% | $12,285 | 326.94% | $0 | 0.00% | $0 | 0.00% | $34,685 | |
| Professional Services | $452,239 | 10.90% | $5,215,636 | No Goal | $0 | 0.00% | $398,434 | 6.78% | $28,517,251 | |
| Standard Services | $236,703 | 11.88% | $1,302,111 | 261.49% | $63,484 | 6.37% | $188,423 | 11.35% | $14,808,020 | |
| Goods < $100K | $396,479 | 242.00% | $465,408 | 248.56% | $79,185 | 67.66% | $608,999 | 104.08% | $790,436 | |
| Total LL174 Spending | $1,085,422 | $6,995,440 | $142,669 | $1,195,856 | $44,150,391 | |||||
| Weighted Grade | D | 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 |
|---|---|---|---|---|
| $53,569,778 | $46,970 | $34,583,560 | $16,598,741 | $2,340,507 |
Step 2: Weighted Matrix (Industry Spending/Total Eligible Spending)
| Category | C | PS | SS | G |
|---|---|---|---|---|
| AFA, HA, W | 0.09% | 64.56% | 30.99% | 4.37% |
| AA | No Goal |
Step 3: Actual LL174 M/WBE Spending
| Category | C | PS | SS | G |
|---|---|---|---|---|
| African American | $0 | $452,239 | $236,703 | $396,479 |
| Asian American | $12,285 | $5,215,636 | $1,302,111 | $465,408 |
| Hispanic American | $0 | $0 | $63,484 | $79,185 |
| Women | $0 | $398,434 | $188,423 | $608,999 |
Step 4: Actual Spending Percentage (Actual LL174 M/WBE Spending/Industry Spending)
| Category | C | PS | SS | G |
|---|---|---|---|---|
| African American | 0.00% | 1.31% | 1.43% | 16.94% |
| Asian American | 26.16% | 15.08% | 7.84% | 19.88% |
| Hispanic American | 0.00% | 0.00% | 0.38% | 3.38% |
| Women | 0.00% | 1.15% | 1.14% | 26.02% |
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% | 10.90% | 11.88% | 242.00% |
| Asian American | 326.94% | No Goal | 261.49% | 248.56% |
| Hispanic American | 0.00% | 0.00% | 6.38% | 67.66% |
| Women | 0.00% | 6.78% | 11.35% | 104.08% |
Step 6: Final Score
| Category | C | PS | SS | G |
|---|---|---|---|---|
| African American | 21.29% | D | 2 | 2.25 |
| Asian American | 260.06% | A | 5 | |
| Hispanic American | 4.93% | F | 1 | |
| Women | 12.44% | F | 1 |
Subcontract Data
| Total Reported Spending | LL174 Eligible Spending | Non Eligible Spending |
|---|---|---|
| $4,127,494 | $350,809 | $3,776,685 |
| LL174 Sub Spending | Construction | Goods | Professional Services | Standard Services | M/WBE Total |
|---|---|---|---|---|---|
| African American | $0 | $0 | $0 | $87,754 | $87,754 |
| Asian American | $0 | $0 | $0 | $0 | $0 |
| Hispanic American | $0 | $0 | $0 | $0 | $0 |
| Women | $0 | $8,301 | $254,754 | $0 | $263,055 |
| Industry Total | $0 | $8,301 | $254,754 | $87,754 | $4,127,494 |
