A Compliance and Procurement Framework for Massachusetts

See how Asset Panda helps MA agencies meet GASB 34, MassDEP asset management, and DESE grant compliance by simplifying NASPO procurement through OSD and CTR.

Executive Summary: Asset Panda for Massachusetts

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 Massachusetts.

The platform is explicitly designed to track Capital Equipment (>$50k threshold), Non-GAAP 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 Massachusetts)

Section 1: Massachusetts Procurement Matrix

How to purchase Asset Panda in compliance with the Operational Services Division (OSD) and Executive Office for Administration and Finance (A&F) rules.

Component	Detail
State Contract Vehicle	NASPO ValuePoint Cooperative Purchasing Organization
Procurement Authority	Operational Services Division (OSD) / Office of the Comptroller (CTR)
Vendor Portal	COMMBUYS (OSD's centralized procurement platform)
State Bid Threshold	$50,000 (Competitive threshold for IT/Services varies by agency, but contracts are mandatory).
Procurement Advantage	Using the pre-competed NASPO ValuePoint contract satisfies competitive bid requirements under M.G.L. c. 7, § 22, streamlining the acquisition of IT software and cloud services for state and local agencies.

Section 2: Compliance & Standards Matrix

How Asset Panda satisfies specific Massachusetts regulatory mandates.

Regulatory Body / Standard	Requirement	Asset Panda Solution
GASB 34 / CTR (Financial Reporting)	Track and depreciate Capital Equipment (>$50k threshold) and other fixed assets.	Automates straight-line depreciation for assets meeting the state's high $50,000 capitalization threshold, providing data for the Comptroller's Annual Report.
CTR / OSD (Property Control)	Inventory Non-GAAP Assets ($1k to $50k) and all firearms/devices capable of storing PII.	Tracks Non-GAAP Assets (e.g., laptops, tablets, portable devices) with full audit trails to safeguard assets and meet CTR/OSD inventory policies.
MassDEP (Environmental Protection)	Implement formal Asset Management Plan for public water system capacity development.	Provides inventory, condition assessment, and long-term financial planning data necessary to meet MassDEP requirements and qualify for DWSRF loans.
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.
MA State Board of Elections (SBE)	Strict Chain of Custody log for voting machines (M.G.L. c. 54, § 28) and auditing materials.	Logs every movement of precinct scanners and media with timestamps and digital seals, meeting SBE security requirements.
DESE (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 CTE funds.

Section 3: Detailed Compliance Frameworks

1. Financial & Government Compliance (GASB 34)

The Requirement: The Office of the Comptroller (CTR) mandates that agencies report Capital (Fixed) Assets in the MMARS system. The threshold for general equipment is high—$50,000 or more. However, agencies must still maintain control over all Non-GAAP property valued over $1,000.

The Asset Panda Solution:

• Capital Equipment: Asset Panda is the system used to track high-value assets over the $50,000 capitalization threshold. It calculates depreciation and generates the data required for GASB 34 and CTR reporting.

• Non-GAAP/IT Control: Massachusetts policy explicitly requires that technology devices capable of storing Personally Identifiable Information (PII) or firearms must be tracked regardless of cost. Asset Panda specializes in managing these Non-GAAP Assets with granular audit trails, satisfying both financial and data security policies.

Micro-Scenario: The Executive Office of Technology Services and Security (EOTSS) mandates control over all state-issued mobile devices. Asset Panda tags and tracks a $450 smartphone as a Non-GAAP Asset, logging the custodian and its status to ensure compliance with the State IT Security Policy for low-value, high-risk items.

2. Public Works, Utilities & Infrastructure

Agency Definitions:

• MassDEP: Massachusetts Department of Environmental Protection.

The Requirement: The MassDEP mandates that public water systems implement Capacity Development strategies, which includes the preparation of a formal Asset Management Plan (AMP). This plan is required for new systems and is a prerequisite for receiving DWSRF grants and loans.

The Asset Panda Solution: Asset Panda helps utilities document and track critical infrastructure assets (pumps, treatment plants, distribution networks). It covers the five core concepts of an AMP (Asset Inventory, Condition Assessment, Criticality, Life Cycle Costing, and Funding), providing the data needed to secure DWSRF assistance and prove system sustainability to MassDEP.

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 (State Board of Elections)

The Requirement: The Massachusetts State Board of Elections (SBE) requires strict Care and Custody procedures for all voting equipment and ballots (M.G.L. c. 54, § 28). This includes logging the care, custody, and repair history of all ballot boxes and counting apparatus.

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 tracks their movement from storage to polling locations, providing the comprehensive log needed to verify the integrity of the voting system before and after each election.

5. Education (DESE & University Systems)

Agency Definition:

• DESE: Department of Elementary and Secondary Education.

The Requirement: School districts must comply with DESE rules and federal grant compliance. The MSDE requires Equipment Inventory Reports annually for equipment costing $5,000 or more purchased with federal funds (E-Rate, ESSER, CTE).

The Asset Panda Solution: Asset Panda is a powerful tool for E-Rate and federal 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: Massachusetts 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 Massachusetts state agencies? A: Yes. Asset Panda is available on the NASPO ValuePoint cooperative contract, simplifying the procurement process through the OSD. It is also SOC 2 Type 2 certified and HIPAA compliant, meeting the security expectations of EOTSS.

Q: Does Asset Panda satisfy Massachusetts' procurement thresholds? A: Yes. Purchasing through the NASPO ValuePoint contract satisfies competitive bid requirements under M.G.L. c. 7, § 22, and is the mandatory first step before using lower-level procurement authority.

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 CTR reporting.

Q: Does Asset Panda track sensitive items below the $50,000 threshold? A: Yes. Asset Panda is ideal for tracking Non-GAAP Assets (e.g., IT equipment, PII-bearing devices) that must be controlled due to data storage or theft risk, ensuring compliance with CTR and OSD inventory policies.

Glossary of Massachusetts Compliance Terms

• CTR: Office of the Comptroller (Manages statewide fixed asset policy and MMARS system).

• DGS: Department of General Services (Oversees state property standards).

• MassDEP: Massachusetts Department of Environmental Protection (Regulates water supply and capacity).

• DESE: Department of Elementary and Secondary Education.

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

• Non-GAAP Assets: Equipment valued under the $50,000 capitalization threshold but requiring detailed inventory control for accountability and security.

• OSD: Operational Services Division (Central purchasing authority).

• SBE: State Board of Elections.

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