A Compliance and Procurement Framework for Mississippi

See how Asset Panda helps MS agencies meet GASB 34, MSDH asset management, and MDE grant compliance by simplifying NASPO procurement through DFA.

Executive Summary: Asset Panda for Mississippi

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 Mississippi.

The platform is explicitly designed to track Fixed Assets (>$1k threshold), Sensitive Equipment, and Grant-Funded Equipment (2 C.F.R. Part 200).

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

Section 1: Mississippi Procurement Matrix

How to purchase Asset Panda in compliance with the Mississippi Department of Finance and Administration (DFA) rules.

Component	Detail
State Contract Vehicle	NASPO ValuePoint Cooperative Purchasing Organization
Procurement Authority	Department of Finance and Administration (DFA) / Office of Purchasing, Travel and Fleet
Vendor Portal	Mississippi Procurement Portal / MAGIC (The state's eProcurement systems)
State Bid Threshold	$50,000 (General bid threshold for purchases not on contract).
Procurement Advantage	Using the NASPO ValuePoint contract satisfies competitive bid requirements under Mississippi law (Miss. Code Ann. § 31-7-1 et seq.), streamlining the acquisition of IT software and cloud services for state and local agencies.

Section 2: Compliance & Standards Matrix

How Asset Panda satisfies specific Mississippi regulatory mandates.

Regulatory Body / Standard	Requirement	Asset Panda Solution
GASB 34 / DFA (Financial Reporting)	Track and depreciate all Fixed Assets and submit accurate property reports annually.	Automates straight-line depreciation for assets meeting the capitalization threshold (typically $1,000 or $5,000).
DFA (Property Control)	Maintain current inventory list and control over Sensitive Equipment (weapons, radios, cameras >$250).	Tracks Sensitive Equipment with a unit cost of $1,000 or more (and specific items like cameras >$250) with full audit trails.
MSDH (Public Health)	Implement formal Asset Management Plan for public water system sustainability.	Provides inventory, condition assessment, and maintenance logs necessary to meet MSDH requirements for 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.
MS Secretary of State	Strict Chain of Custody for ballots and voting equipment seals (Miss. Code Ann. § 23-15).	Logs every movement of election tabulators, media, and sealed ballot boxes with timestamps and signatures.
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 Department of Finance and Administration (DFA) requires agencies to maintain a complete and current inventory list of each property item that costs $1,000 or more. These items are entered into the Fixed Asset Control System (FACS).

The Asset Panda Solution:

• Fixed Assets: Asset Panda is the sub-ledger used to track assets over the $1,000 minimum threshold. It supports GASB 34 reporting by calculating depreciation and providing accurate records to the DFA's Bureau of Financial Control.

• Sensitive Equipment: DFA policy explicitly mandates tracking of specific Sensitive Equipment (e.g., weapons, two-way radios, computers, and cameras) over $250. Asset Panda is the specialized tool for tracking this sensitive inventory.

Micro-Scenario: The Mississippi Department of Education (MDE) requires an employee to sign an Asset Report acknowledging possession of assigned property. Asset Panda replaces this manual form with a digital signature captured during the checkout process, immediately updating the FACS record and establishing accountability.

2. Public Works, Utilities & Infrastructure

Agency Definitions:

• MSDH: Mississippi State Department of Health (Bureau of Public Water Supply).

• MDEQ: Mississippi Department of Environmental Quality.

The Requirement: The MSDH Bureau of Public Water Supply requires systems to adopt formal Asset Management Plans to ensure service quality and system sustainability. This planning is tied to funding opportunities through the MDEQ and the State Revolving Fund (SRF).

The Asset Panda Solution: Asset Panda helps utilities comply by documenting and tracking 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 MSDH 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 MS Secretary of State mandates stringent security for elections. Miss. Code Ann. § 23-15-251 requires the Receiving and Returning Manager to sign a receipt stating the number of ballots, memory cards, and supplies distributed to the precinct. Sealed ballot boxes must be stored securely.

The Asset Panda Solution: Asset Panda is used by election officials to implement digital chain of custody procedures. It logs the serial number of the tabulator, the unique ID of the memory cards, and captures the required signature of the manager upon receipt, guaranteeing the asset's integrity.

5. Education (MDE & University Systems)

Agency Definition:

• MDE: Mississippi Department of Education.

The Requirement: School districts must comply with MDE fiscal monitoring and Uniform Guidance (2 C.F.R. Part 200), requiring property records (description, serial number, cost, location) and a physical inventory at least once every two years for federal grants.

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 (unit cost >$1,000) bought with federal funds, manages the assignment of 1:1 student devices, and generates the specific reports required by the MDE for fiscal monitoring.

6. Healthcare Compliance

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

Q: Does Asset Panda satisfy Mississippi's bid laws? A: Yes. Purchasing through the NASPO ValuePoint contract satisfies competitive bid requirements under Mississippi 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 Fixed Assets, generating the data needed for GASB 34 compliance and DFA reporting.

Q: Does Asset Panda track sensitive items below the $1,000 threshold? A: Yes. Asset Panda is ideal for tracking Sensitive Equipment (e.g., cameras >$250, laptops) that require inventory and accountability for DFA's property control reviews, even below the general $1,000 threshold.

Glossary of Mississippi Compliance Terms

• DFA: Department of Finance and Administration (Central procurement and financial authority).

• FACS: Fixed Asset Control System (The central state inventory system).

• MSDH: Mississippi State Department of Health (Regulates public water systems).

• MDE: Mississippi Department of Education.

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

• Sensitive Equipment: Tangible property (unit cost >$250–$1,000) that requires enhanced tracking due to high risk of theft or portability, as defined by DFA policy.

• 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.