A Compliance and Procurement Framework for Nevada

See how Asset Panda helps NV agencies meet GASB 34, NDEP asset management, and NDE grant compliance while simplifying NASPO procurement through the NDA.

Executive Summary: Asset Panda for Nevada

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 Nevada.

The platform is explicitly designed to track Capital Assets (>$5k threshold), Controlled 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 Nevada)

Section 1: Nevada Procurement Matrix

How to purchase Asset Panda in compliance with Nevada Department of Administration (NDA) rules.

Component	Detail
State Contract Vehicle	NASPO ValuePoint Cooperative Purchasing Organization
Procurement Authority	Department of Administration (NDA) / State Purchasing
Vendor Portal	Contract Entry and Tracking System (CETS)
State Bid Threshold	$100,000 (General competitive solicitation threshold for local governments).
Procurement Advantage	Using the NASPO ValuePoint contract satisfies competitive bid requirements under Nevada Revised Statutes (NRS 333), streamlining the acquisition of IT software and cloud services for state and local agencies.

Section 2: Compliance & Standards Matrix

How Asset Panda satisfies specific Nevada regulatory mandates.

Regulatory Body / Standard	Requirement	Asset Panda Solution
GASB 34 / GFO (Financial Reporting)	Track and depreciate Capital Assets and ensure compliance with NAC 353A internal controls.	Automates straight-line depreciation for assets meeting the state's capitalization threshold (typically $5,000 for equipment).
NRS 353A (Property Control)	Implement uniform system for internal accounting and administrative control to safeguard assets.	Provides auditable authorization and recordkeeping procedures to effectively control accounting of assets and liabilities, per NRS 353A.020.
NDEP (Environmental Quality)	Develop formal Asset Management Plan (AMP) to secure SRF funding and ensure water system sustainability.	Provides inventory, condition assessment, and long-term funding plan data necessary to meet NDEP capacity development 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.
NV Secretary of State	Maintain uninterrupted Chain of Custody and log seal numbers for voting equipment (NRS 293B.155).	Logs every movement of election equipment with timestamps, serial number, and seal number recorded on the chain of custody log.
NDE (Education Grants)	2 C.F.R. Part 200 compliance, requiring detailed inventory 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 Governor's Finance Office (GFO) mandates compliance with NRS 353A for robust internal controls over assets. The state's capitalization threshold for equipment is generally $5,000.

The Asset Panda Solution:

• Capital Assets: Asset Panda is the system used to track assets over the $5,000 capitalization threshold. It manages the depreciation schedule and asset status (acquisition, disposal), ensuring compliance with GASB 34 reporting standards.

• Internal Controls (NRS 353A): Asset Panda provides the granular tracking required by the Division of Internal Audits. This includes tracking Sensitive Assets (e.g., firearms, portable devices) below the threshold with full audit trails, satisfying the need for security and loss prevention.

Micro-Scenario: A state agency employee is assigned a laptop and two monitors. Asset Panda automatically tracks the serial numbers of the devices and records the transaction with the employee's signature, documenting the custodian and safeguarding the asset as required by the NAC 353A internal controls.

2. Public Works, Utilities & Infrastructure

Agency Definitions:

• NDEP: Nevada Division of Environmental Protection (Bureau of Safe Drinking Water).

The Requirement: The NDEP requires public water systems to develop and maintain an Asset Management Plan (AMP), with the plan reviewed and/or updated at least every five years. Having a strong AMP is critical for securing 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 for NDEP plan reviews and securing SRF assistance.

3. Public Safety & Emergency Management

The Requirement: Law enforcement agencies must maintain strict accountability for weapons, vehicles, and equipment, including federal grant equipment (2 C.F.R. Part 200).

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 Nevada Secretary of State mandates stringent security for elections. NRS 293B requires an uninterrupted Chain of Custody for all voting equipment, and local clerks must record the serial number of the seal on custody records before and after transport.

The Asset Panda Solution: Asset Panda is used by county 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 reviews.

5. Education (NDE & University Systems)

Agency Definition:

• NDE: Nevada Department of Education.

The Requirement: School districts must comply with NDE rules and federal grant compliance. Charter schools must track all equipment, supplies, and textbooks and submit a tentative budget by April 15th annually.

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 >$5,000 for capitalization, but all assets for charter schools), manages the assignment of 1:1 student devices, and generates the specific reports required by the NDE for fiscal monitoring.

6. Healthcare Compliance

The Requirement: Nevada 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 Nevada state agencies? A: Yes. Asset Panda is available on the NASPO ValuePoint cooperative contract, simplifying the procurement process through the NDA. It is also SOC 2 Type 2 certified and HIPAA compliant, meeting NRS 353A internal control requirements.

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

Q: Does Asset Panda track assets for internal control below the $5,000 threshold? A: Yes. Asset Panda is ideal for tracking Controlled Assets (including all firearms) and equipment required by NRS 353A and the NAC for enhanced accountability and loss prevention.

Glossary of Nevada Compliance Terms

• NDA: Nevada Department of Administration (Central procurement authority).

• NDEP: Nevada Division of Environmental Protection (Regulates public water systems).

• NAC 353A: Nevada Administrative Code governing Internal Accounting and Administrative Control.

• NDE: Nevada 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.

• CETS: Contract Entry and Tracking System (State's contract management portal).

• Controlled Assets: Property requiring enhanced accountability, such as all firearms and IT equipment, tracked under NRS 353A.

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