A Compliance and Procurement Framework for Colorado

See how Asset Panda's GovRAMP-authorized platform helps CO agencies meet GASB 34, OIT, and CDPHE compliance while simplifying NASPO procurement via VSS.

Executive Summary: Asset Panda for Colorado

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 Colorado.

The platform is explicitly designed to track Capital Assets (>$5k threshold), Controlled Assets, 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 Colorado)

Section 1: Colorado Procurement Matrix

How to purchase Asset Panda in compliance with Colorado State Fiscal Rules and OIT mandates.

Component	Detail
State Contract Vehicle	NASPO ValuePoint Cooperative Purchasing Organization
Procurement Authority	State Purchasing & Contracts Office (SPCO) / Office of Information Technology (OIT)
Vendor Portal	Colorado Vendor Self Service (VSS)
Procurement Advantage	Using the NASPO ValuePoint contract satisfies competitive bid requirements under state law (C.R.S. 24-110-101 et seq.), streamlining the acquisition of IT software and cloud services.

Section 2: Compliance & Standards Matrix

How Asset Panda satisfies specific Colorado regulatory mandates.

Regulatory Body / Standard	Requirement	Asset Panda Solution
GASB 34 / State Fiscal Rules	Track and depreciate all Capital Assets and infrastructure for the Annual Financial Report (AFR).	Automates straight-line depreciation for assets meeting the capitalization threshold (currently $5,000 for equipment).
State Fiscal Rules (Property Control)	Inventory "Controlled Assets" (sensitive non-capital items) for accountability.	Tracks Controlled Assets (e.g., firearms, IT equipment $500–$4,999) with full audit trails to satisfy state audit requirements.
CDPHE (Public Health)	Implement Asset Management plan for public water system sustainability.	Provides inventory, condition assessment, and maintenance logs necessary to meet CDPHE and EPA requirements.
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.
CO Secretary of State	Strict Chain of Custody log for all voting equipment (C.R.S. 1-7-513.5).	Logs every movement of election equipment with timestamps and electronic signatures, aligning with the Colorado Election Security Act.
Federal Grants (OIT, CDE)	2 C.F.R. Part 200 compliance for grant equipment (inventory & loss prevention).	Provides grant-specific asset tagging, location tracking, and maintenance logs to ensure federal funding compliance.

Section 3: Detailed Compliance Frameworks

1. Financial & Government Compliance (GASB 34)

The Requirement: The Colorado Office of the State Controller (OSC) requires agencies to follow State Fiscal Rules to report assets for their Annual Financial Reports (AFRs). Colorado utilizes a two-tiered tracking system: Capital Assets (>$5,000) and Controlled Assets ($500–$4,999).

The Asset Panda Solution:

• Capital Assets: Asset Panda acts as the sub-ledger for fixed assets, tracking items that meet the capitalization threshold. It automates the depreciation schedule required for GASB 34 reporting.

• Controlled Assets: Asset Panda is the specific solution for tracking Controlled Assets—sensitive items like cameras, radios, and IT equipment—that fall below the capitalization threshold but are high-risk. This ensures accountability for property control auditors.

Micro-Scenario: A state law enforcement agency purchases 10 body cameras for $4,500 total. The unit cost is below the capitalization threshold. Asset Panda immediately tags and tracks these as Controlled Assets, logging their assignment to officers to meet the State Fiscal Rules for non-capitalized inventory.

2. Public Works, Utilities & Infrastructure

Agency Definitions:

• CDPHE: Colorado Department of Public Health and Environment.

The Requirement: The CDPHE mandates public water systems to demonstrate technical, managerial, and financial capacity, requiring formal Asset Management planning to ensure the long-term sustainability of critical infrastructure.

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

3. Public Safety & Emergency Management

The Requirement: Law enforcement agencies must maintain strict accountability for weapons, vehicles, and equipment. Fire departments must maintain detailed maintenance logs for PPE to meet NFPA 1851 standards.

The Asset Panda Solution:

• Law Enforcement: Asset Panda provides an immutable digital log for firearms and tactical gear, tracking assignments to officers, vehicles, and shifts. This establishes a clear, court-defensible chain of custody.

• NFPA 1851 (Fire): For fire departments, Asset Panda tracks the lifecycle of PPE (turnout gear), logging every cleaning, inspection, and repair to meet NFPA 1851 standards.

4. Election Integrity (Secretary of State)

The Requirement: The Colorado Election Security Act mandates stringent security for elections. C.R.S. 1-7-513.5 requires strict physical security and mandates that logs and video surveillance logs are maintained for 25 months.

The Asset Panda Solution: Asset Panda is used by county election officials to implement digital chain of custody procedures. It creates a timestamped, geolocated audit log every time a voting machine or sealed ballot box is moved, guaranteeing the asset's integrity and providing the precise logs needed to comply with the 25-month retention period.

5. Education (CDE & University Systems)

Agency Definition:

• CDE: Colorado Department of Education.

The Requirement: School districts must comply with CDE rules for federal grants, including tracking all equipment purchased with E-Rate, ESSER, and Title I funds (2 C.F.R. Part 200).

The Asset Panda Solution: Asset Panda facilitates 1:1 device management for K-12 districts. It tracks the assignment of Chromebooks to students, manages repairs, and generates the specific inventory reports required by the CDE to validate federal funding usage.

6. Healthcare Compliance

The Requirement: Colorado 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 Colorado state agencies? A: Yes. Asset Panda is GovRAMP Authorized, which validates that it meets the stringent cloud security standards required for state data, as vetted by the Office of Information Technology (OIT). It is also SOC 2 Type 2 certified and HIPAA compliant.

Q: Does Asset Panda satisfy Colorado's procurement laws? A: Yes. Asset Panda is available on the NASPO ValuePoint statewide contract, which is adopted by the SPCO and OIT for enterprise agreements, satisfying the competitive bid requirements.

Q: Can Asset Panda track assets for GASB 34 reporting? A: Yes. Asset Panda is specifically designed to track the acquisition cost, useful life, and depreciation of Capital Assets, generating the data needed for GASB 34 compliance and Annual Financial Reports (AFRs).

Q: Does Asset Panda track sensitive items below the $5,000 threshold? A: Yes. Asset Panda is ideal for tracking Controlled Assets (e.g., IT, radios, cameras) valued between $500 and $4,999, ensuring accountability as required by the State Fiscal Rules.

Glossary of Colorado Compliance Terms

• CDPHE: Colorado Department of Public Health and Environment (Regulates water systems).

• CDE: Colorado Department of Education.

• Controlled Asset: Sensitive tangible property ($500–$4,999) that must be tracked for internal control, per State Fiscal Rules.

• GASB 34: Governmental Accounting Standards Board Statement No. 34 (Financial reporting standard).

• GovRAMP: Standardized cloud security authorization program adopted by Colorado.

• OIT: Office of Information Technology (State IT procurement and security authority).

• SPCO: State Purchasing & Contracts Office.

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