A Compliance and Procurement Framework for Michigan

See how Asset Panda helps MI agencies meet GASB 34, EGLE asset management, and MDE grant compliance by simplifying NASPO procurement through DTMB.

Executive Summary: Asset Panda for Michigan

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 Michigan.

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

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

Section 1: Michigan Procurement Matrix

How to purchase Asset Panda in compliance with the Department of Technology, Management & Budget (DTMB) rules.

Component	Detail
State Contract Vehicle	NASPO ValuePoint Cooperative Purchasing Organization
Procurement Authority	Department of Technology, Management & Budget (DTMB) / State Procurement
Vendor Portal	SIGMA Vendor Self Service (VSS)
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, leveraging state-level pricing.

Section 2: Compliance & Standards Matrix

How Asset Panda satisfies specific Michigan regulatory mandates.

Regulatory Body / Standard	Requirement	Asset Panda Solution
GASB 34 (Financial Reporting)	Track and depreciate all Capital Assets ($5,000 threshold) and infrastructure for the Annual Financial Report (AFR).	Automates straight-line depreciation for assets meeting the capitalization threshold (currently $5,000 for general equipment).
DTMB (Property Control)	Track Sensitive Assets and maintain inventory for all property types, regardless of capitalization threshold.	Tracks Sensitive Assets (e.g., computers, weapons, equipment $<\$5k$) with full audit trails to satisfy DTMB inventory standards and central control mandates.
EGLE (Environmental Quality)	Implement robust Asset Management Plan for public water system sustainability and maintenance.	Provides inventory, condition assessment, and maintenance logs necessary to meet EGLE requirements for water supply and wastewater infrastructure.
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.
MI Bureau of Elections	Maintain strict Chain of Custody log for all voting equipment and ballots (M.C.L.A. 168.765).	Logs every movement of precinct tabulators and media with timestamps and digital seal records, meeting the state's security and auditing requirements.
MDE (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 IDEA funds.

Section 3: Detailed Compliance Frameworks

1. Financial & Government Compliance (GASB 34)

The Requirement: The Michigan Office of Financial Management (OFM) requires agencies to report fixed assets for the Annual Financial Report (AFR). The capitalization threshold for general equipment is typically $5,000. Agencies must also control and track high-value IT equipment below this threshold.

The Asset Panda Solution:

• Capital Assets: Asset Panda is the system used to track assets over the $5,000 capitalization threshold. It automates the depreciation schedule for accurate GASB 34 reporting.

• Sensitive/Controlled Assets: DTMB mandates tracking of portable, high-risk assets. Asset Panda specializes in tracking Sensitive Assets (laptops, servers, tactical gear) that fall below the financial threshold, providing granular accountability records to satisfy property control reviews.

Micro-Scenario: The Department of State Police purchases 100 new laptops. Asset Panda tags these, logs the officer assigned, and records the service life, ensuring the asset is accounted for in inventory despite falling below the $5,000 capitalization threshold.

2. Public Works, Utilities & Infrastructure

Agency Definitions:

• EGLE: Department of Environment, Great Lakes, and Energy (Water Resources Division).

The Requirement: The EGLE Water Resources Division oversees compliance for public water and wastewater systems. These facilities are often required to adopt Asset Management Plans and demonstrate long-term sustainability for permitting and State Revolving Fund (SRF) eligibility.

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 system sustainability to EGLE 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 (Bureau of Elections)

The Requirement: The Michigan Bureau of Elections mandates strict Chain of Custody procedures. M.C.L.A. 168.765a requires detailed logging of seal numbers on ballot containers and tabulators, and accounting for all ballots processed in Absent Voter Counting Boards.

The Asset Panda Solution: Asset Panda is used by clerks to implement digital chain of custody procedures. It creates a timestamped audit log documenting the serial number and seal number of election equipment and media, guaranteeing the asset's integrity for the required post-election audits.

5. Education (MDE & University Systems)

Agency Definition:

• MDE: Michigan Department of Education.

The Requirement: School districts must comply with MDE rules and Uniform Guidance (2 C.F.R. Part 200), requiring property records and a detailed inventory for equipment purchased with federal funds (E-Rate, ESSER, Title I).

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, manages the assignment of 1:1 student devices, and generates the specific reports required by the MDE Fiscal Auditing division to validate federal funding usage.

6. Healthcare Compliance

The Requirement: Michigan 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 Michigan state agencies? A: Yes. Asset Panda is available on the NASPO ValuePoint cooperative contract, simplifying the procurement process through the DTMB. It is SOC 2 Type 2 certified and HIPAA compliant, meeting state IT security policies.

Q: Does Asset Panda satisfy Michigan's procurement laws? A: Yes. Purchasing through the NASPO ValuePoint contract satisfies competitive bid requirements, 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 sensitive items below the $5,000 threshold? A: Yes. Asset Panda is ideal for tracking Sensitive Assets (e.g., IT equipment, portable assets) that require inventory and accountability to safeguard against loss, as defined by DTMB policy.

Glossary of Michigan Compliance Terms

• DTMB: Department of Technology, Management & Budget (Central procurement and IT authority).

• EGLE: Department of Environment, Great Lakes, and Energy (Regulates water systems).

• MDE: Michigan Department of Education.

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

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

• SIGMA VSS: State of Michigan's Vendor Self Service system (e-procurement portal).

• Sensitive Assets: Tangible property valued under the $5,000 capitalization threshold that requires specialized tracking for security and internal control purposes.

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