A Compliance and Procurement Framework for Oklahoma

See how Asset Panda helps OK agencies meet GASB 34, ODEQ asset management, and OSDE grant compliance while simplifying NASPO procurement through OMES.

Executive Summary: Asset Panda for Oklahoma

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 Oklahoma.

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

Section 1: Oklahoma Procurement Matrix

How to purchase Asset Panda in compliance with the Oklahoma Central Purchasing Act (74 O.S. §85).

Component	Detail
State Contract Vehicle	NASPO ValuePoint Cooperative Purchasing Organization
Procurement Authority	Office of Management and Enterprise Services (OMES) Central Purchasing Division
Vendor Portal	Central Purchasing Division (CPD) Website
General Bid Threshold	$50,000 (Acquisitions beyond this threshold require Central Purchasing review).
Procurement Advantage	Using the NASPO ValuePoint contract satisfies competitive bid requirements under the Central Purchasing 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 Oklahoma regulatory mandates.

Regulatory Body / Standard	Requirement	Asset Panda Solution
GASB 34 / OMES (Financial Reporting)	Track and depreciate all Capital Assets ($5,000 threshold) and provide records for the Statewide Accounting Manual.	Automates straight-line depreciation for assets meeting the capitalization threshold (typically $5,000 for equipment).
OMES (Property Control)	Track Tangible Assets (Fixed Assets) and IT Acquisitions with enhanced accountability.	Tracks Sensitive Equipment (e.g., computers, high-theft items) below the $5k threshold, satisfying OMES audits for enhanced asset control.
ODEQ (Environmental Quality)	Develop Capacity Development Assessment (CDA) and maintain O&M records for public water systems.	Provides Asset Management Plan (AMP) data (inventory, condition, maintenance logs) necessary to meet ODEQ requirements for DWSRF project funding.
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.
OK State Election Board (OSEB)	Maintain Care and Custody of all voting devices and ensure security of the system (O.S. Title 26).	Logs every movement of election equipment with timestamps and digital seal records, guaranteeing integrity for pre-election testing and post-election audits.
OSDE (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 Oklahoma Office of Management and Enterprise Services (OMES) requires agencies to report fixed assets for the Annual Financial Report (AFR). The tangible asset reporting threshold for state entities is generally $5,000. Agencies must also track IT assets 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 manages depreciation and tracks asset status, fulfilling GASB 34 and OMES reporting requirements.

• Sensitive/IT Assets: OMES requires agencies to identify all Capital Asset Acquisitions between $500 and $5,000 to ensure accountability. Asset Panda is the specialized tool for tracking this Sensitive Equipment with granular detail.

Micro-Scenario: The Department of Commerce purchases new drone technology for site assessments (unit cost $3,000). Although not capitalized, Asset Panda is used to properly tag and track the acquisition, location, and custodian, satisfying the OMES requirement for accountability below the official threshold.

2. Public Works, Utilities & Infrastructure

Agency Definitions:

• ODEQ: Oklahoma Department of Environmental Quality.

The Requirement: The ODEQ Capacity Development Program requires public water systems to complete a Capacity Development Assessment (CDA), which evaluates the adequacy of physical infrastructure, technical knowledge, and Asset Management Plans (AMPs). A CDA is required to receive DWSRF project funding.

The Asset Panda Solution: Asset Panda helps utilities comply with the ODEQ mandate by documenting and tracking critical infrastructure assets. This provides a verifiable record of maintenance, condition, and remaining useful life, which is essential data for CDA plan approvals and securing DWSRF financing.

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 Election Board)

The Requirement: The Oklahoma State Election Board (OSEB) mandates security protocols to protect the voting process. O.S. Title 26 authorizes the Secretary of the State Election Board to employ security measures to protect voting devices, systems, and associated hardware, requiring strict care and custody.

The Asset Panda Solution: Asset Panda is used by county election boards to implement digital chain of custody procedures. It creates a timestamped audit log documenting the serial number and movement of tabulators and election materials, ensuring the integrity of the asset for post-election audits.

5. Education (OSDE & University Systems)

Agency Definition:

• OSDE: Oklahoma State Department of Education.

The Requirement: School districts must comply with OSDE rules and Uniform Guidance (2 C.F.R. Part 200), requiring property records for all equipment with an acquisition cost of $5,000 or more purchased with federal funds. A physical inventory must be taken at least once every two years.

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 OSDE for fiscal monitoring.

6. Healthcare Compliance

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

Q: Does Asset Panda satisfy Oklahoma's procurement limits? A: Yes. Purchasing through the NASPO ValuePoint contract satisfies competitive bid requirements under the Central Purchasing Act, 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 OMES reporting.

Q: Does Asset Panda track sensitive items below the $5,000 threshold? A: Yes. Asset Panda is ideal for tracking assets valued between $500 and $5,000 (Sensitive Equipment), which OMES requires agencies to monitor for accountability and loss prevention.

Glossary of Oklahoma Compliance Terms

• OMES: Office of Management and Enterprise Services (Central financial, procurement, and IT authority).

• ODEQ: Oklahoma Department of Environmental Quality (Regulates public water systems).

• OSDE: Oklahoma State 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.

• CPD: Central Purchasing Division (Division of OMES).

• Capital Assets: Tangible property with a useful life >1 year and a unit cost exceeding the state’s $5,000 capitalization threshold.

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