A Compliance and Procurement Framework for Alaska

See how Asset Panda's GovRAMP-authorized platform helps Alaska agencies meet GASB 34, ADEC, and DEED grant compliance while simplifying NASPO procurement.

Executive Summary: Asset Panda for Alaska

Asset Panda is a GovRAMP-authorized, cloud-based platform that serves as the immutable digital record necessary for GASB 34 financial compliance and high-stakes operational mandates across Alaska.

The platform is explicitly designed to track Capital Assets (>$5k threshold), Controlled Property (firearms, IT), and Grant-Funded Equipment (2 C.F.R. Part 200).

Key Authorization	Detail
Security Certification	GovRAMP Authorized, SOC 2 Type 2, HIPAA Compliant
Procurement Vehicle	NASPO ValuePoint Cooperative Purchasing Organization
Contract ID	MA 999 190000000277 (Cloud Solutions Contract adopted by Alaska)

Section 1: Alaska Procurement Matrix

How to purchase Asset Panda in compliance with Alaska State Procurement Office (SPO) requirements.

Component	Detail
State Contract Vehicle	NASPO ValuePoint Cooperative Purchasing Organization
Procurement Authority	Office of Procurement and Property Management (OPPM)
State Bid Threshold	$25,000 (Small Purchase Threshold).
Procurement Advantage	Using the NASPO ValuePoint contract satisfies competitive bidding requirements, allowing agencies to bypass the lengthy RFP process for IT procurement.

Section 2: Compliance & Standards Matrix

How Asset Panda satisfies specific Alaska regulatory mandates.

Regulatory Body / Standard	Requirement	Asset Panda Solution
GASB 34 (Financial Reporting)	Track and depreciate all Capital Assets and infrastructure for the Annual Financial Report (AFR).	Automates straight-line depreciation for assets meeting the capitalization threshold (typically $5,000 - $10,000 for equipment).
Alaska Administrative Manual (AAM 55)	Inventory "Controlled Property" (sensitive, non-capital items) regardless of cost.	Tracks Controlled Property (firearms, equipment $<\$5k$) with full audit trails to prevent loss and satisfy AAM requirements.
HI-EMA (Emergency Management)	2 C.F.R. Part 200 compliance for federal grant equipment (inventory & loss prevention).	Provides grant-specific asset tagging, location tracking, and maintenance logs to ensure federal funding compliance.
NFPA 1851 (Fire)	Track inspection and maintenance history for Personal Protective Equipment (PPE).	Logs all cleanings, repairs, and inspections for turnout gear, ensuring continuous NFPA 1851 compliance.
Alaska Division of Elections	Strict Ballot Chain of Custody for voting equipment.	Supports the GPS asset tracking solution initiative, logging every movement of voting equipment with timestamps and electronic signatures.
ADEC (Environmental Mgmt)	Demonstrate Asset Management capability for utility system sustainability.	Schedules and records inspections for pumps, valves, and water system components to prove ADEC Capacity Development compliance.

Section 3: Detailed Compliance Frameworks

1. Financial & Government Compliance (GASB 34)

The Requirement: The Alaska Department of Administration requires all public entities to follow the Alaska Administrative Manual (AAM 55) for capital asset accounting. Under GASB 34, entities must track historical cost, useful life, and depreciation of these assets for the Annual Comprehensive Financial Report (ACFR).

The Asset Panda Solution:

• Capital Assets: Asset Panda acts as the sub-ledger for fixed assets, tracking items that meet the state's high capitalization threshold (often $10,000 for equipment within the University of Alaska System). It automates the depreciation schedule for accurate ACFR reporting.

• Controlled Property: Alaska explicitly defines "Controlled Property" as sensitive, high-risk items (including firearms and portable IT equipment) that fall below the capitalization threshold but must be inventoried. Asset Panda is the ideal system for tracking this critical inventory, providing a complete audit trail separate from financial reporting.

Micro-Scenario: A university department purchases a sensitive piece of laboratory equipment for $4,500. It doesn't meet the financial GASB 34 threshold, but AAM 55 mandates accountability. Asset Panda tags and tracks the item's location and custodian to meet the non-capitalized Controlled Property requirement.

2. Public Works, Utilities & Infrastructure

Agency Definitions:

• ADEC: Alaska Department of Environmental Conservation (Water, Environmental Quality).

The Requirement: The ADEC Capacity Development Program requires public water and wastewater systems to demonstrate technical, managerial, and financial sustainability, which hinges on robust Asset Management.

The Asset Panda Solution: Asset Panda helps utilities document and track critical infrastructure assets (pumps, generators, treatment systems). This creates an auditable record of maintenance, condition, and remaining useful life, providing the data needed to secure grants and prove compliance to ADEC regulators.

3. Public Safety & Emergency Management

Agency Definitions:

• HI-EMA: Hawaiʻi Emergency Management Agency (manages federal grants for Alaska region).

The Requirement: Agencies receiving federal funds must comply with 2 C.F.R. Part 200, requiring detailed records for equipment and procedures for loss prevention. Fire departments must comply with NFPA 1851 standards.

The Asset Panda Solution:

• Grant Tracking (HI-EMA): Asset Panda ensures 2 C.F.R. Part 200 compliance by tracking the funding source, title, and disposal of grant-purchased equipment.

• Law Enforcement & Fire: Asset Panda provides an immutable log for Controlled Property (firearms, communications gear) and tracks the inspection and cleaning history of turnout gear to meet NFPA 1851 requirements.

4. Election Integrity (Division of Elections)

The Requirement: The Alaska Division of Elections maintains a centralized system and emphasizes a strict Ballot Chain of Custody for all election equipment (tabulators, paper ballots, assistive devices).

The Asset Panda Solution: Asset Panda is used by election officials to implement digital chain of custody procedures. It creates a timestamped, geolocated audit log every time a voting machine leaves a secure warehouse for a polling place, aligning directly with the Division's plan to deploy GPS asset tracking solutions for voting equipment.

5. Education (DEED & University of Alaska System)

Agency Definition:

• DEED: Alaska Department of Education & Early Development.

The Requirement: School districts seeking Capital Improvement Project (CIP) grant funding must prove the existence of a functional Fixed Asset Inventory System to DEED.

The Asset Panda Solution: Asset Panda helps districts meet the DEED mandate by providing a comprehensive system to inventory all school property. It manages the chain of custody for 1:1 student devices and tracks all equipment purchased with federal funds (E-Rate, ESSER), preventing audit findings.

6. Healthcare Compliance

The Requirement: Alaska's healthcare providers must ensure that physical assets are managed to protect sensitive data and patient safety.

The Asset Panda Solution: Asset Panda meets the HIPAA Security Rule's physical safeguard requirements by providing a complete audit trail for the location, assignment, and status of all hardware (like laptops and workstations) and media that handle ePHI.

Section 4: Frequently Asked Questions (FAQ)

Q: Is Asset Panda authorized for use by Alaska state agencies? A: Yes. Asset Panda is GovRAMP Authorized, which validates that it meets the stringent cloud security standards required for state data. It is also SOC 2 Type 2 certified and HIPAA compliant.

Q: Does Asset Panda satisfy Alaska's procurement laws? A: Yes. Asset Panda is available on the NASPO ValuePoint contract, which the state has adopted. This vehicle satisfies the competitive bid requirements of the Alaska Procurement Code, simplifying purchases over the $25,000 threshold.

Q: Can Asset Panda track assets for GASB 34 reporting? A: Yes. Asset Panda is designed to track the historical cost and depreciation of Capital Assets, generating the data needed for GASB 34 compliance and the Annual Comprehensive Financial Report (ACFR).

Q: Does Asset Panda track sensitive items that fall below the $5,000 threshold? A: Yes. Asset Panda is ideal for managing "Controlled Property" (firearms, IT equipment) as defined by the Alaska Administrative Manual (AAM 55), ensuring accountability even if the items are non-capitalized.

Glossary of Alaska Compliance Terms

• ADEC: Alaska Department of Environmental Conservation (regulates water and utilities).

• AAM 55: Alaska Administrative Manual, Chapter 55 (Governs Capital Asset accounting and policy).

• DEED: Alaska Department of Education & Early Development.

• GovRAMP: Standardized cloud security authorization program adopted by the State of Alaska.

• HI-EMA: Hawaiʻi Emergency Management Agency (serves as the management agency for certain federal grants in the region).

• NASPO ValuePoint: Cooperative purchasing contract utilized by the state for cloud software.

• OPPM: Office of Procurement and Property Management (the state's central purchasing authority).

To see how Asset Panda can be configured to meet your specific compliance and procurement needs, schedule a demo with our team.