A Compliance and Procurement Framework for Florida

See how Asset Panda's GovRAMP-authorized platform helps FL agencies meet GASB 34, FDEP asset management, and FDOE grant compliance by simplifying NASPO procurement via MFMP.

Executive Summary: Asset Panda for Florida

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 Florida.

The platform is explicitly designed to track Capital Assets (>$5k threshold), Attractive Property, 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 Florida)

Section 1: Florida Procurement Matrix

How to purchase Asset Panda in compliance with the Florida Procurement Code (Chapter 287, F.S.).

Component	Detail
State Contract Vehicle	NASPO ValuePoint Cooperative Purchasing Organization
Procurement Authority	Department of Management Services (DMS)
Vendor Portal	MyFloridaMarketPlace (MFMP)
State Bid Threshold	$35,000 (Category Two Threshold for competitive solicitations).
Procurement Advantage	Using the pre-competed NASPO ValuePoint contract satisfies competitive bid requirements (Chapter 287, F.S.), streamlining the acquisition of IT software and cloud services through MFMP without requiring an Invitation to Bid (ITB) or RFP.

Section 2: Compliance & Standards Matrix

How Asset Panda satisfies specific Florida regulatory mandates.

Regulatory Body / Standard	Requirement	Asset Panda Solution
GASB 34 / F.A.C. 69I-73	Track and depreciate all Capital Assets (typically >$5,000 threshold) and infrastructure for the Annual Financial Report (AFR).	Automates straight-line depreciation for assets meeting the $5,000 capitalization threshold set by the Florida Administrative Code (F.A.C.).
F.A.C. 69I-73.001 (Property Control)	Inventory "Attractive Property" (sensitive, theft-prone items) for accountability.	Tracks Attractive Property (e.g., laptops, tablets, equipment $<\$5k$) with full audit trails to satisfy the property accounting mandate.
FDEP (Environmental Protection)	Implement detailed Asset Management Plan for water utility compliance and sustainability.	Provides inventory, condition assessment, and maintenance logs necessary to meet FDEP and EPA requirements for public water systems.
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.
FL Division of Elections	Strict Chain of Custody record for all ballots and voting equipment (F.A.C. 1S-2.015).	Logs every movement of election equipment with timestamps, electronic signatures, and seal IDs, ensuring integrity for Florida’s rigorous auditing standards.
FDOE (Education Grants)	2 C.F.R. Part 200 compliance, requiring inventory for items >$1,000.	Provides auditable inventory records for equipment bought with federal E-Rate, ESSER, and Title I funds (unit cost >$1,000).

Section 3: Detailed Compliance Frameworks

1. Financial & Government Compliance (GASB 34)

The Requirement: The Florida Department of Financial Services (DFS) mandates compliance with F.A.C. Chapter 69I-73, requiring that Capital Assets (>$5,000) be recorded and depreciated for GASB 34 reporting, and that Attractive Property be tracked for inventory purposes.

The Asset Panda Solution:

• Capital Assets: Asset Panda acts as the central sub-ledger for fixed assets, automating the depreciation schedule required for the Annual Financial Report (AFR).

• Attractive Property: Florida explicitly mandates the tracking of "Attractive Items"—tangible personal property that costs less than $5,000 but is sensitive due to risk of theft (e.g., cell phones, cameras, laptops). Asset Panda is the specialized tool for tracking this non-capitalized inventory, ensuring accountability per F.A.C. 69I-73.001.

Micro-Scenario: A county IT department purchases 50 portable scanners ($900 each). These are "Attractive Items." Asset Panda ensures each scanner is tagged, assigned to a specific Custodian, and its movement logged to prevent it from becoming "Unaccounted for Property" (F.S. 274.03).

2. Public Works, Utilities & Infrastructure

Agency Definitions:

• FDEP: Florida Department of Environmental Protection.

The Requirement: The FDEP requires public water and wastewater utilities to maintain meticulous records of their infrastructure, condition, and maintenance to ensure water quality compliance and system sustainability. This is often enforced through grant and loan programs.

The Asset Panda Solution: Asset Panda helps utilities document and track critical infrastructure assets (pumps, treatment facilities, vehicles). This provides a verifiable record of maintenance, condition, and remaining useful life, which is essential data for FDEP compliance and long-term capital planning.

3. Public Safety & Emergency Management

The Requirement: Law enforcement agencies must maintain strict accountability for firearms and sensitive gear, and fire departments must track PPE maintenance 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.

• Grant Compliance: Asset Panda ensures 2 C.F.R. Part 200 compliance by tracking the funding source, title, and disposal of all relevant grant-purchased equipment.

4. Election Integrity (Division of Elections)

The Requirement: The FL Division of Elections mandates minimum security procedures (F.A.C. 1S-2.015) requiring a strict, documented Chain of Custody for voting systems, election media, and ballots from the point of loading through final post-election disposition.

The Asset Panda Solution: Asset Panda is used by Supervisors of Elections 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 supporting the state's post-election auditing requirements.

5. Education (FDOE & University Systems)

Agency Definition:

• FDOE: Florida Department of Education.

The Requirement: School districts must comply with FDOE rules and federal EDGAR regulations, requiring a physical inventory of equipment with a unit cost of $1,000 or more at least once every two years (F.A.C. 69I-72.002).

The Asset Panda Solution: Asset Panda is a powerful tool for E-Rate and federal grant compliance. It tracks the detailed inventory required for assets (>$1,000 unit cost) bought with federal funds (E-Rate, ESSER, Title I), ensuring compliance for the FDOE Fiscal Monitoring unit.

6. Healthcare Compliance

The Requirement: Florida 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 Florida 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 available through the NASPO ValuePoint cooperative contract, simplifying the procurement process through the DMS.

Q: Does Asset Panda satisfy Florida's $35,000 bid threshold? A: Yes. By purchasing through the NASPO ValuePoint contract, Florida agencies satisfy the competitive bid requirements of Florida Statutes (Chapter 287), streamlining procurement through the MyFloridaMarketPlace (MFMP) portal.

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 the ideal system for tracking "Attractive Property" (laptops, equipment, portable assets) as required by the Florida Administrative Code, ensuring accountability for theft-prone assets.

Glossary of Florida Compliance Terms

• Attractive Property: Tangible property valued under $5,000 that requires inventory tracking due to its sensitive or theft-prone nature, per F.A.C. 69I-73.001.

• DMS: Department of Management Services (Central procurement authority).

• F.A.C. 69I-73: Florida Administrative Code section governing local government tangible personal property.

• FDEP: Florida Department of Environmental Protection.

• FDOE: Florida Department of Education.

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

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

• MFMP: MyFloridaMarketPlace (Florida’s official e-procurement portal).

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

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