A Compliance and Procurement Framework for Louisiana

See how Asset Panda's GovRAMP-authorized platform helps LA agencies meet GASB 34, LDEQ compliance, and LDOE grant rules while simplifying NASPO procurement through OSP.

Executive Summary: Asset Panda for Louisiana

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 Louisiana.

The platform is explicitly designed to track Capital Assets (>$1k threshold), Non-Consumable 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 Louisiana)

Section 1: Louisiana Procurement Matrix

How to purchase Asset Panda in compliance with the Louisiana Procurement Code (R.S. 39:1551 et seq.).

Component	Detail
State Contract Vehicle	NASPO ValuePoint Cooperative Purchasing Organization
Procurement Authority	Office of State Procurement (OSP) / Division of Administration (DOA)
Vendor Portal	LaGov / PROACT (Electronic submission and workflow systems)
State Bid Threshold	$30,000 (Purchases $5,001–$30,000 require 3 quotes; formal bid starts higher).
Procurement Advantage	Using the pre-competed NASPO ValuePoint contract satisfies competitive bid requirements, allowing agencies to bypass formal solicitation and streamline the acquisition of IT software and cloud services through the OSP.

Section 2: Compliance & Standards Matrix

How Asset Panda satisfies specific Louisiana regulatory mandates.

Regulatory Body / Standard	Requirement	Asset Panda Solution
GASB 34 / R.S. 24:515 (Financial Reporting)	Track and depreciate all fixed assets and maintain property records for audit defense.	Automates straight-line depreciation for assets meeting the capitalization threshold (typically $1,000 - $5,000 for equipment).
R.S. 39:321 (Property Control)	Track Non-Consumable Movable Property (unit cost >$1,000) for accountability.	Tracks Non-Consumable Property (e.g., IT, electronics, tools) with full audit trails to satisfy Legislative Auditor requirements.
LDEQ (Environmental Quality)	Maintain monitoring, compliance, and asset records for water/wastewater systems.	Schedules and records inspections and preventative maintenance for pumps, valves, and treatment facilities to prove LDEQ regulatory 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.
LA Secretary of State	Strict Chain of Custody log for all voting equipment seals and keys (R.S. 18:1373).	Logs every movement of election tabulators and keys with timestamps and digital seal certifications, ensuring integrity for pre-election testing.
LDOE (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 Louisiana Office of the State Comptroller requires agencies and political subdivisions to follow R.S. 24:515 and GASB 34, mandating the depreciation of capital assets and full accountability for all Movable Property (R.S. 39:321), often with a low tracking threshold of $1,000 or less.

The Asset Panda Solution:

• Capital Assets: Asset Panda serves as the primary fixed asset accounting system, tracking items over the threshold (which can be $1,000, $2,500, or $5,000 depending on the entity). It automates the depreciation schedule for accurate GASB 34 and legislative reporting.

• Non-Consumable Property: Asset Panda is the specialized tool for tracking Non-Consumable Movable Property (e.g., laptops, tablets, furniture) that must be tagged and inventoried to prevent loss and satisfy the Legislative Auditor.

Micro-Scenario: A parish school board uses 8(g) funds (state funds with accountability rules) to purchase equipment over the $250 tracking threshold. Asset Panda immediately tags the assets with the correct funding source and tracks the required acquisition cost, disposal, and reason for disposition, ensuring compliance with R.S. 24:515.

2. Public Works, Utilities & Infrastructure

Agency Definitions:

• LDEQ: Louisiana Department of Environmental Quality.

The Requirement: The LDEQ regulates water quality, requiring public water systems to maintain compliance records and robust system management. Accurate asset condition records are crucial for securing State Revolving Fund (SRF) financing through the LDEQ.

The Asset Panda Solution: Asset Panda helps utilities document and track critical infrastructure assets (pumps, treatment plants, distribution networks). This creates a verifiable record of maintenance, condition, and remaining useful life, providing the data needed to secure SRF assistance and prove long-term sustainability to LDEQ regulators.

3. Public Safety & Emergency Management

The Requirement: Law enforcement agencies must maintain strict accountability for weapons, vehicles, and equipment. 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, service history, and inspection dates, supporting operational efficiency and compliance.

• 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 Louisiana Secretary of State mandates stringent security for voting equipment. R.S. 18:1373 requires that voting machines be prepared, sealed, and their seal numbers and protective counter numbers be certified and logged before delivery to the polling place.

The Asset Panda Solution: Asset Panda is used by parish election officials to implement digital chain of custody procedures. It documents the serial number, seal number, and certification signature every time a voting machine is prepared and moved, providing the precise, auditable trail required by the Secretary of State.

5. Education (LDOE & University Systems)

Agency Definition:

• LDOE: Louisiana Department of Education.

The Requirement: School districts must comply with LDOE rules and federal grant compliance (2 C.F.R. Part 200), requiring detailed property records and segregation of 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, manages the assignment of 1:1 student devices, and generates the specific reports required by the LDOE to validate federal funding usage.

6. Healthcare Compliance

The Requirement: Louisiana 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 Louisiana state agencies? A: Yes. Asset Panda is GovRAMP Authorized, which meets the high-level security standards preferred for cloud solutions by the Office of Technology Services (OTS). It is available on the NASPO ValuePoint cooperative contract, simplifying procurement through the OSP.

Q: Does Asset Panda satisfy Louisiana's procurement limits? A: Yes. Purchasing through the NASPO ValuePoint contract satisfies competitive bid requirements under Louisiana law, streamlining the acquisition of IT software and cloud services for state and local entities.

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 AFR reporting.

Q: Does Asset Panda track non-consumable property below the capitalization threshold? A: Yes. Asset Panda is ideal for tracking Non-Consumable Movable Property (e.g., equipment >$1,000) that requires inventory and accountability for the Legislative Auditor.

Glossary of Louisiana Compliance Terms

• LDEQ: Louisiana Department of Environmental Quality (Regulates utility and water quality).

• LDOE: Louisiana Department of Education.

• Movable Property: Terminology used in R.S. 39:321 for tangible personal property that must be accounted for by state agencies.

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

• OSP: Office of State Procurement (Central procurement authority).

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

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