A Compliance and Procurement Framework for Montana

See how Asset Panda helps MT agencies meet GASB 34, DEQ asset management, and OPI grant compliance by simplifying NASPO procurement through the DOA.

Executive Summary: Asset Panda for Montana

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 Montana.

The platform is explicitly designed to track Capital Assets (>$5k threshold), 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 Montana OIT security standards)
Procurement Vehicle	NASPO ValuePoint Cooperative Purchasing Organization
Contract ID	MA 999 190000000277 (Cloud Solutions Contract adopted by Montana)

Section 1: Montana Procurement Matrix

How to purchase Asset Panda in compliance with the Montana Department of Administration (DOA) rules.

Component	Detail
State Contract Vehicle	NASPO ValuePoint Cooperative Purchasing Organization
Procurement Authority	Department of Administration (DOA) / State Procurement Services Division (SPSD)
Vendor Portal	eMACS Marketplace (The state's procurement system)
State Delegation Threshold	$200,000 (Delegated authority limit for most agencies).
Procurement Advantage	Using the NASPO ValuePoint contract satisfies competitive bid requirements under the Montana Procurement Act, streamlining the acquisition of IT software and cloud services for state and local agencies.

Section 2: Compliance & Standards Matrix

How Asset Panda satisfies specific Montana regulatory mandates.

Regulatory Body / Standard	Requirement	Asset Panda Solution
GASB 34 / DOA (Financial Reporting)	Track and depreciate all Capital Assets and maintain records for the Annual Comprehensive Financial Report (ACFR).	Automates straight-line depreciation for assets meeting the capitalization threshold (typically $5,000 for equipment).
DOA (Property Control)	Track Sensitive Assets prone to theft and complete internal audits (ARM 44.3.29).	Tracks Sensitive Assets (e.g., weapons, IT equipment $<\$5k$) with full audit trails to prevent loss and satisfy DOA property control requirements.
MT DEQ (Environmental Quality)	Encourage and support Asset Management Plans (AMPs) for public water system sustainability.	Provides inventory, condition assessment, and maintenance logs necessary to meet DEQ Capacity Development program requirements.
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.
MT Secretary of State	Maintain strict Chain of Custody using tamperproof seals and logs for all voting system components.	Logs every movement of election equipment with timestamps and digital seal records, meeting the state's security and auditing requirements (ARM 44.3.29).
OPI (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 Montana Department of Administration (DOA) mandates that agencies follow the Statewide Fixed Asset Accounting Policy. The general capitalization threshold for equipment is $5,000. Agencies must also track theft-prone assets for internal controls, often referred to as Sensitive Assets.

The Asset Panda Solution:

• Capital Assets: Asset Panda is the sub-ledger used to track assets over the $5,000 capitalization threshold. It manages depreciation and asset status (acquisition, disposal), feeding the necessary data to the state's central accounting system (SABHRS).

• Sensitive Assets: DOA policy explicitly mandates tracking of Sensitive Assets (e.g., portable IT, weapons, communications equipment) below the financial threshold. Asset Panda provides the digital audit trail for these high-risk items.

Micro-Scenario: The Montana State Library acquires specialized digital equipment for $3,500. While non-capitalized, Asset Panda tags the item and records its maintenance and location, ensuring the asset is accounted for in inventory to meet DOA property control requirements.

2. Public Works, Utilities & Infrastructure

Agency Definitions:

• MT DEQ: Montana Department of Environmental Quality.

The Requirement: The MT DEQ promotes Asset Management Plans (AMPs) for public water systems to demonstrate system sustainability, which is a key component of the federal Safe Drinking Water Act (SDWA) and is crucial for accessing State Revolving Fund (SRF) financing.

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 DEQ 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 Montana Secretary of State mandates stringent security for elections. Rules require that voting system components be secured using tamperproof seals and access control, and that election administrators maintain a chain of custody log for components and security devices.

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

5. Education (OPI & University Systems)

Agency Definition:

• OPI: Montana Office of Public Instruction.

The Requirement: School districts must comply with OPI fiscal monitoring and Uniform Grant Guidance (2 C.F.R. Part 200). OPI conducts an annual Risk Assessment of sub-recipients based partly on fiscal performance.

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 OPI to meet the Risk Assessment criteria and ensure timely fund expenditure.

6. Healthcare Compliance

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

Q: Does Asset Panda satisfy Montana's competitive bid 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 ACFR 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 DOA policy.

Glossary of Montana Compliance Terms

• DAFS: Department of Administrative and Financial Services (Central procurement and fiscal authority).

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

• MT DEQ: Montana Department of Environmental Quality (Regulates water systems).

• OPI: Montana Office of Public Instruction.

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

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

• Sensitive Assets: Tangible property valued under the $5,000 capitalization threshold that must be inventoried due to high risk of loss.

• SABHRS: Statewide Accounting, Budgeting, and Human Resources System (Montana's state accounting system).

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