Public Law 100-656, the Business Opportunity Development Reform Act of 1988, amended the Small Business Act to emphasize acquisition planning. The law requires agencies to compile and make available projections of contracting opportunities that small, minority and women-owned businesses may be able to perform. We also extend our efforts to provide opportunities for Historically Underutilized Business Zone (HUBZone) small businesses and Service-Disabled Veteran-Owned (SDVO) small businesses. HUBZone and SDVO small businesses are encouraged to market their capabilities to Treasury to assist us with our various small business acquisition strategies.
The Department of the Treasury Forecast of Contract Opportunities includes projections of all anticipated contract actions above $150,000 that small businesses may be able to perform under direct contracts with Treasury, or perform part of the effort through subcontract arrangements with Treasury's large business prime contractors. For additional information on procurements not expected to exceed $150,000, please contact the appropriate Treasury Bureau Small Business Specialist.
The Department of the Treasury purchases a wide variety of goods and services, from packaging materials to highly complex computer equipment and services. Our procurement expenditures were approximately $5.4 billion in fiscal year 2014 (counting appropriated and non-appropriated funds). We are committed to increasing prime contract awards and subcontract awards to the small business community. We hope that this forecast will assist you in doing business with the Department of the Treasury. By helping firms identify procurement opportunities as early in the acquisition process as possible, we hope to improve communication with industry and assist the small business community with its marketing efforts.