A Compliance and Procurement Framework for Maryland

See how Asset Panda helps MD agencies meet GASB 34, MDE asset management, and MSDE grant compliance while simplifying NASPO procurement through DGS and DoIT.

Executive Summary: Asset Panda for Maryland

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 Maryland.

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

Key Authorization	Detail
Security Certification	SOC 2 Type 2, HIPAA Compliant (Vetted under State IT Security Policy)
Procurement Vehicle	NASPO ValuePoint Cooperative Purchasing Organization
Contract ID	MA 999 190000000277 (Cloud Solutions Contract adopted by Maryland)

Section 1: Maryland Procurement Matrix

How to purchase Asset Panda in compliance with the Maryland Department of General Services (DGS) and Board of Public Works (BPW) rules.

Component	Detail
State Contract Vehicle	NASPO ValuePoint Cooperative Purchasing Organization
Procurement Authority	Department of General Services (DGS) / Office of State Procurement (OSP)
Vendor Portal	eMaryland Marketplace Advantage (eMMA)
State Bid Threshold	$50,000 (Small Procurement Limit for most agencies/contracts).
Procurement Advantage	Using the NASPO ValuePoint contract satisfies competitive bid requirements under the State Finance and Procurement Article, streamlining the acquisition of IT software and cloud services for state and local agencies.

Section 2: Compliance & Standards Matrix

How Asset Panda satisfies specific Maryland regulatory mandates.

Regulatory Body / Standard	Requirement	Asset Panda Solution
GASB 34 / Comptroller (Financial Reporting)	Track and depreciate Capital Equipment ($5,000 threshold) and Infrastructure ($250,000 threshold).	Automates straight-line depreciation for assets meeting the capitalization threshold, providing data for the Comptroller's annual report.
University System/DGS (Property Control)	Track Non-Capital Equipment (<$5k) and maintain controls over data stored on low-value IT assets.	Tracks Non-Capital/Sensitive Assets (e.g., laptops, tablets, electronics) with full audit trails to satisfy DGS inventory standards.
MDE (Environmental Quality)	Ensure water systems have Capacity Management plans and meet permitting requirements.	Provides inventory, condition assessment, and maintenance logs necessary to meet MDE requirements for water supply and infrastructure sustainability.
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.
MD State Board of Elections (SBE)	Maintain strict Chain of Custody log for voting equipment and auditing materials (CISA guidelines).	Logs every movement of precinct scanners and ExpressVote devices with timestamps and digital seals, ensuring integrity for post-election audits.
MSDE (Education Grants)	2 C.F.R. Part 200 compliance, requiring detailed property records and status changes for grant equipment.	Provides auditable inventory records for equipment bought with federal E-Rate, ESSER, and CTE funds (unit cost >$5,000).

Section 3: Detailed Compliance Frameworks

1. Financial & Government Compliance (GASB 34)

The Requirement: The Maryland Comptroller's Office requires agencies to follow policies for capital assets, setting the standard threshold for personal property (equipment) at $5,000. Agencies must also ensure control over Non-Capital Equipment that may store data.

The Asset Panda Solution:

• Capital Equipment: Asset Panda is the system used to track assets over the $5,000 capitalization threshold. It automates the depreciation schedule and tracks asset status (acquisition, disposal) as required for GASB 34 reporting.

• Non-Capital Equipment/IT Control: Maryland policies (e.g., USM Guidelines) mandate control over Non-Capital Equipment that stores data. Asset Panda is the specialized tool for tracking Sensitive Assets (laptops, cameras, memory devices) with a full audit trail to satisfy DGS inventory and IT security requirements.

Micro-Scenario: The Maryland Department of Health (MDH) purchases 100 tablets for patient data collection (unit cost $800). Though non-capitalized, Asset Panda tags and tracks their location and ensures compliance with controls over data stored on equipment with a unit value less than $5,000.

2. Public Works, Utilities & Infrastructure

Agency Definitions:

• MDE: Maryland Department of the Environment (Water Supply Program).

The Requirement: The MDE Water Supply Program requires comprehensive planning for water withdrawal and source protection, often enforced through the Water Appropriation Permit. MDE administers state grants and State Revolving Funds (SRF), which incentivize strong asset management.

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 MDE regulators.

3. Public Safety & Emergency Management

The Requirement: Law enforcement and emergency services must maintain strict accountability for weapons, vehicles, and equipment, and 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 (State Board of Elections)

The Requirement: The Maryland State Board of Elections (SBE) follows strict security and chain of custody procedures. This includes logging the custody of critical election supplies (e.g., removable media/thumb drives) and maintaining security checks from the moment the machines leave the warehouse until the post-election audit.

The Asset Panda Solution: Asset Panda is used by local election officials to implement digital chain of custody procedures. It logs the serial numbers of DS200 scanners and the unique IDs of the removable media, ensuring integrity and providing the auditable trail necessary for post-election audits.

5. Education (MSDE & University Systems)

Agency Definition:

• MSDE: Maryland State Department of Education.

The Requirement: School districts must comply with MSDE rules for federal grants, requiring Equipment Inventory Reports to be submitted by September 30th annually for all equipment costing $5,000 or more, including any item designated as Sensitive Equipment.

The Asset Panda Solution: Asset Panda is a powerful tool for E-Rate and CTE (Career and Technical Education) grant compliance. It tracks all the required inventory fields (serial number, tag number, funding source) and facilitates the acquisition and disposal process, ensuring compliance with MSDE reporting deadlines.

6. Healthcare Compliance

The Requirement: Maryland 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 Maryland state agencies? A: Yes. Asset Panda is available on the NASPO ValuePoint cooperative contract, simplifying the procurement process through the DGS. It is also SOC 2 Type 2 certified and HIPAA compliant, meeting the security expectations of the Department of Information Technology (DoIT).

Q: Does Asset Panda satisfy Maryland's $50,000 procurement limit? A: Yes. Purchasing through the NASPO ValuePoint contract satisfies competitive bid requirements under Maryland law, streamlining the acquisition of IT software and cloud services over the $50,000 small procurement threshold.

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 Equipment, generating the data needed for GASB 34 compliance and Comptroller reporting.

Q: Does Asset Panda track sensitive items below the $5,000 threshold? A: Yes. Asset Panda is ideal for tracking Non-Capital Equipment that must be controlled due to data storage (IT assets) or theft risk, ensuring compliance with University System and DGS inventory policies.

Glossary of Maryland Compliance Terms

• DGS: Department of General Services (Central procurement authority).

• DoIT: Department of Information Technology (Oversees state IT strategy and security).

• MDE: Maryland Department of the Environment (Regulates water supply).

• MSDE: Maryland State Department of Education.

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

• SBE: State Board of Elections.

• Non-Capital Equipment: Tangible property valued under the $5,000 capitalization threshold that must still be tracked for inventory control (e.g., laptops).

• 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.