A Compliance and Procurement Framework for Iowa

See how Asset Panda helps IA agencies meet GASB 34, DNR asset management, and IDOE grant compliance by simplifying NASPO procurement via the DAS Cooperative Program.

Executive Summary: Asset Panda for Iowa

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

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

Key Authorization	Detail
Security Certification	SOC 2 Type 2, HIPAA Compliant (Cloud solution meets Iowa OCIO security standards)
Procurement Vehicle	NASPO ValuePoint Cooperative Purchasing Organization
Contract ID	MA 999 190000000277 (Cloud Solutions Contract adopted by Iowa)

Section 1: Iowa Procurement Matrix

How to purchase Asset Panda in compliance with the Iowa Department of Administrative Services (DAS) rules.

Component	Detail
State Contract Vehicle	NASPO ValuePoint Cooperative Purchasing Organization
Procurement Authority	Department of Administrative Services (DAS) Central Procurement
Vendor Portal	IMPACS (Iowa's eProcurement System)
Cooperative Purchasing	Iowa's Cooperative Purchasing Program is voluntary but strongly encouraged for local entities.
Procurement Advantage	Using the NASPO ValuePoint contract satisfies competitive bid requirements, allowing agencies to bypass the need for lengthy solicitations for IT software and cloud services, directly leveraging pricing through DAS.

Section 2: Compliance & Standards Matrix

How Asset Panda satisfies specific Iowa regulatory mandates.

Regulatory Body / Standard	Requirement	Asset Panda Solution
GASB 34 / DAS (Financial Reporting)	Track and depreciate all Capital Assets and infrastructure for the CAFR.	Automates straight-line depreciation for assets meeting the capitalization threshold (often $5,000 for equipment).
DAS State Accounting Manual	Inventory all Inventoriable Property (sensitive, non-capital items) for accountability.	Tracks personal property down to the $5,000 threshold (or lower if locally set) with full audit trails to prevent loss and satisfy internal control reviews.
IA DNR (Environmental Quality)	Implement robust Asset Management for public water system sustainability and operator certification.	Provides inventory, condition assessment, and maintenance logs necessary to meet DNR requirements for water utilities.
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.
IA Secretary of State	Maintain strict Chain of Custody and log serial numbers/locations for voting equipment (Iowa Code § 52.35).	Logs every movement of tabulators and portable voting devices with timestamps and electronic signatures, ensuring integrity for pre-election testing.
IDOE (Education Grants)	2 C.F.R. Part 200 compliance, requiring detailed property records for federal grants.	Provides auditable inventory records for equipment bought with federal E-Rate, ESSER, and Title I funds.

Section 3: Detailed Compliance Frameworks

1. Financial & Government Compliance (GASB 34)

The Requirement: The DAS requires all public entities to follow Generally Accepted Accounting Principles (GAAP) via the State Accounting Manual, which sets capital asset reporting thresholds (often $5,000 for equipment) for GASB 34 compliance.

The Asset Panda Solution:

• Capital Assets: Asset Panda acts as the central sub-ledger, automating the straight-line depreciation schedule required for the Comprehensive Annual Financial Report (CAFR).

• Inventoriable Property: Local governments in Iowa are responsible for inventory control of valuable but non-capitalized assets. Asset Panda is the tool for capturing this Inventoriable Property (e.g., IT equipment, portable assets), ensuring internal control.

Micro-Scenario: A county purchases new public safety radios ($3,000 each). Although they fall below the capital threshold, Asset Panda immediately tracks them. This satisfies the internal control requirements of the DAS and the State Auditor, ensuring accountability for valuable county property.

2. Public Works, Utilities & Infrastructure

Agency Definitions:

• DNR: Iowa Department of Natural Resources.

The Requirement: The DNR regulates water quality and requires public water systems to maintain system sustainability, which relies on adequate financial and managerial capacity. Robust Asset Management is key to securing funding and complying with safety regulations.

The Asset Panda Solution: Asset Panda helps utilities document and track critical infrastructure assets (pumps, wells, pipes). This creates a verifiable record of maintenance, condition, and remaining useful life, providing the data needed to secure State Revolving Fund (SRF) assistance and prove compliance to DNR regulators.

3. Public Safety & Emergency Management

The Requirement: Law enforcement agencies must maintain strict accountability for weapons, vehicles, and sensitive gear. Fire departments must 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 Iowa Secretary of State mandates that the county election commissioner is responsible for the Care and Custody of all voting machines and requires a signed, sealed certificate documenting the serial numbers and zero totals after pre-election testing (Iowa Code § 52.35).

The Asset Panda Solution: Asset Panda is used by county election officials to implement digital chain of custody procedures. It creates a timestamped audit log of when tabulators are sealed and moved, guaranteeing the asset's integrity and providing the certified documentation required by Iowa Code § 52.35.

5. Education (IDOE & University Systems)

Agency Definition:

• IDOE: Iowa Department of Education.

The Requirement: School districts must comply with IDOE rules and federal grant compliance (2 C.F.R. Part 200), requiring detailed property records and segregated accounts for federal funds (E-Rate, ESSER, Title I).

The Asset Panda Solution: Asset Panda is a powerful tool for E-Rate compliance. It tracks the detailed inventory required for assets purchased with federal funds, ensuring the district meets IDOE fiscal monitoring requirements and complies with the Uniform Financial Accounting for Iowa School Districts.

6. Healthcare Compliance

The Requirement: Iowa 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 Iowa state agencies? A: Yes. Asset Panda is available on the NASPO ValuePoint cooperative contract, simplifying the procurement process through the DAS Central Procurement Office. It is also SOC 2 Type 2 certified and HIPAA compliant.

Q: Does Asset Panda track sensitive items that fall below the $5,000 threshold? A: Yes. Asset Panda is ideal for tracking Inventoriable Property (e.g., IT equipment, portable assets) down to the capitalization threshold, ensuring accountability for high-risk assets.

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 CAFR reporting to the DAS.

Q: Does purchasing via NASPO ValuePoint satisfy Iowa bid laws? A: Yes. Purchasing through a DAS-adopted cooperative contract like NASPO ValuePoint is an approved procurement method, satisfying the competitive solicitation requirements under Iowa law.

Glossary of Iowa Compliance Terms

• DAS: Department of Administrative Services (Central procurement authority).

• DNR: Department of Natural Resources (Regulates utility and environmental compliance).

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

• IDOE: Iowa Department of Education.

• IMPACS: Iowa's eProcurement System.

• Inventoriable Property: Tangible property that must be tagged and tracked for accountability, as defined by the DAS State Accounting Manual.

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

• SPO: State Procurement Office.

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