On February 18, 2015 New York City Comptroller Scott Stringer announced a new initiative that is aimed to increase transparency and accountability on NYC spending. A key provision of the initiative is to report on M/WBE spending in Checkbook NYC. The reports will include detailed data on spending by contractors and agencies. This is part of Comptroller Stringer’s campaign to increase the level of M/WBE participation in NYC contracts. According to the Press Release the City has spent $432 Million (approximately 4.4% of available dollars) with M/WBEs to date in FY 2015 (which commenced July 1, 2015). The NYC School Construction Authoritv has the highest reported spend with over $162 Million going to M/WBEs. The lion’s share of the spend has gone to Women-Owned businesses, followed by Hispanic American-Owned then African Amercian-Owned firms. Here is a link to the press release. http://comptroller.
Previously, Comptroller Stringer issued a report called: “Making the Grade.” The report assigned a grade to the 31 mayoral agencies and the Comptroller’s office comparing spending against the Local Law 1 citywide contracting goals for M/WBEs. No agencies scored an A, two scored “Bs”, and nine scored “C”s.The other 21 agencies scored a “D” or an “F”. Together the citywide grade was a “D”fHere is a link to Comptroller Stringer’s “Making the Grade Report” http://comptroller.