Treasury Notes

 Treasury Exceeds Small Business Contracting Goals for Second Year in a Row

By: Nani Coloretti

Treasury understands that small businesses are a backbone of the economy, and we strive each year to increase available opportunities to work with small businesses in every facet of Treasury business.  For the second year in a row, Treasury has outpaced its goals for small business contracting.

Every year, all government agencies strive to meet an overall goal for the portion of goods and services they purchase from small businesses.  Each agency also aims to achieve sub-goals for small businesses located in economically distressed areas or that are owned by women, socially and economically disadvantaged individuals, and service-disabled veterans.  The goals are set internally and separately by the Small Business Administration.

The preliminary data for Treasury show that this past year—fiscal year 2012—Treasury exceeded SBA’s small business goal and each of the four sub-goals – and we surpassed even our own “stretch” goals.  Last year, Treasury spent approximately 38 percent of its $2.3 billion small business eligible contracting budget on purchases that support small businesses. 

FY2012 (Percentage of Total Treasury Procurement)
 Preliminary Data as of 12/21/12

Treasury’s acquisition community outperformed an overall goal for contracting with small businesses by more than six percentage points, and an internal Treasury “stretch” goal by more than three percentage points.  That has a powerful impact because each one percent increase in the amount of Treasury’s contracting that goes to small businesses translates into a $23.4 million investment in the small business community. 

Last month, Deputy Secretary Neal Wolin hosted Treasury’s Champion Awards event to highlight Treasury’s FY 2012 small, minority, and women owned business contracting achievements.  The event, organized by the Office of Minority and Women Inclusion (OMWI), recognized all the Treasury bureaus that met their overall small business goals and supported minority and women owned businesses, as well as individuals, teams and businesses that demonstrated exceptional performance. 

An example of such a performance was Signet Computers, which received the Small Business Prime Contractor of the Year that recognizes a Treasury contractor providing exemplary service.  Signet is a HUBZone and Service-Disabled Veteran-Owned small business.  Signet worked closely with the Treasury procurement community to understand their needs and delivered innovative and cost-effective infrastructure solutions.  Signet ensured the timely delivery of hardware and software that the IRS needed to meet key critical production dates, and provided quality staffing resources for critical IT programs.  Signet also provided advanced printing solutions to BPD and a secure wireless solution to the US Mint.  In addition to its outstanding performance as a Treasury contractor, Signet has been active in the community and has even begun mentoring a local Economically Disadvantaged Women Owned Small Business.

Deputy Treasury Secretary Neal Wolin noted that “the Secretary and I challenged the department to not only meet our 32 percent goal set by the Small Business Administration, but to meet an internal stretch goal of 35 percent. That is why I am particularly pleased with Treasury’s achievement.”

Treasury’s senior leadership remained focused on achieving our small business goals—and we are excited to have exceeded them for a second straight year.  We are proud of these achievements, but we have no plans to rest on past success.  We expect to continue to challenge ourselves to do even better in fiscal year 2013.

The award recipients were: 


Gold Medal (achieved overall small business goal and all four socioeconomic goals)

Alcohol and Tobacco Tax and Trade Bureau

Bureau of Engraving and Printing

Bureau of the Public Debt

Departmental Offices

Internal Revenue Service

Office of the Comptroller of the Currency

Treasury Inspector General for Tax Administration

United States Mint

Honorable Mention - Financial Crimes Enforcement Network

Silver Medal (achieved overall small business goal and three socioeconomic goals)  

Financial Management Service

Bronze Medal (achieved overall small business goal and two socioeconomic goals)

Community Development Financial Institution Fund

Special Inspector General for Troubled Asset Relief Program

HUBZone Small Business Champion: Bureau of the Public Debt

Service Disabled Veteran Owned Small Business Champion: Bureau of the Public Debt


Financial Crimes Enforcement Network


Community Development Financial Institution Fund


Alcohol and Tobacco Tax and Trade Bureau


Small Business Prime Contractor of the Year: Signet Computers Inc.

Large Business Prime Contractor of the Year: Deloitte


United States Mint

Nani Coloretti is the Assistant Secretary for Management and Director of the Office of Small and Disadvantaged Business Utilization at the U.S. Department of the Treasury.

Posted in:  Management and Budget
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