A Compliance and Procurement Framework for Texas

See how Asset Panda's TX-RAMP platform helps TX agencies meet GASB 34, TCEQ asset management, and TEA grant compliance via NASPO procurement.

Executive Summary: Asset Panda for Texas

Asset Panda is a TX-RAMP Authorized, cloud-based platform that serves as the immutable digital record necessary for GASB 34 financial compliance and high-stakes operational mandates across Texas.

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	TX-RAMP Authorized, SOC 2 Type 2, HIPAA Compliant
Procurement Vehicle	NASPO ValuePoint Cooperative Purchasing Organization
Contract ID	MA 999 190000000277 (Cloud Solutions Contract adopted by Texas)

Section 1: Texas Procurement Matrix

How to purchase Asset Panda in compliance with the Texas Comptroller of Public Accounts (CPA) rules.

Component	Detail
State Contract Vehicle	NASPO ValuePoint Cooperative Purchasing Organization
Procurement Authority	Texas Comptroller of Public Accounts (CPA) / Texas Procurement and Contract Management System
Vendor Portal	CMBL (Centralized Master Bidders List) / Texas SmartBuy
Security Mandate	TX-RAMP certification is mandatory for cloud vendors handling state data.
Procurement Advantage	Using the NASPO ValuePoint contract, which is adopted by the CPA, satisfies competitive bid requirements under the Texas Procurement Code, streamlining the acquisition of IT software and cloud services.

Section 2: Compliance & Standards Matrix

How Asset Panda satisfies specific Texas regulatory mandates.

Regulatory Body / Standard	Requirement	Asset Panda Solution
GASB 34 / CPA (Financial Reporting)	Track and depreciate all Capital Assets and ensure compliance with the State Property Accounting (SPA) System.	Automates straight-line depreciation for assets meeting the $5,000 capitalization threshold.
CPA / SPA System (Property Control)	Track "Controlled Assets" (sensitive items $500–$4,999) for accountability and audit defense.	Tracks Controlled Assets (e.g., firearms, IT equipment, tools) with full audit trails and location data to satisfy the CPA's inventory mandate.
TCEQ (Environmental Quality)	Develop Asset Management Plan (AMP) to secure SRF funding and meet regulatory sustainability goals.	Provides inventory, condition assessment, and maintenance logs necessary to qualify for water infrastructure funding from TCEQ.
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.
TX Secretary of State	Maintain strict Chain of Custody for voting equipment, media, and sealed counters (TX Election Code).	Logs every movement of tabulators and poll books with timestamps and digital seals, guaranteeing the asset's integrity for recounts and audits.
TEA (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 Texas Comptroller of Public Accounts (CPA) mandates all state and local agencies use the State Property Accounting (SPA) System to report fixed assets. The statutory capitalization threshold for equipment is typically $5,000. Furthermore, agencies must track Controlled Assets valued below the 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, tracks asset status, and provides the required data for GASB 34 reporting.

• Controlled Assets: Texas law requires tracking Controlled Assets (e.g., laptops, tablets, weapons) valued between $500 and $4,999 for internal control. Asset Panda is the specialized tool for tracking these Sensitive Assets with a digital audit trail, ensuring compliance with the SPA System.

Micro-Scenario: The Texas Department of Transportation (TxDOT) acquires heavy machinery (>$5k) and 100 tablets ($700 each). Asset Panda capitalizes the machinery for GASB 34 and simultaneously tracks the tablets as Controlled Assets, logging custodian assignment and location for inventory audit purposes.

2. Public Works, Utilities & Infrastructure

Agency Definitions:

• TCEQ: Texas Commission on Environmental Quality.

The Requirement: The TCEQ encourages public water systems to develop Asset Management Plans (AMPs) as part of their Capacity Development Program. AMPs are key to securing State Revolving Fund (SRF) financing and demonstrating operational sustainability.

The Asset Panda Solution: Asset Panda helps utilities comply with the TCEQ mandate by documenting and tracking critical infrastructure assets (pumps, treatment plants, distribution networks). This verifiable record supports risk analysis, condition assessment, and preventative maintenance, proving long-term sustainability to TCEQ 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 TX Secretary of State mandates stringent security for elections. The Texas Election Code requires strict Chain of Custody logs for tabulation equipment, ballots, and keys, often requiring unique seals and certifications before and after elections.

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 the required post-election audits and recounts.

5. Education (TEA & University Systems)

Agency Definition:

• TEA: Texas Education Agency.

The Requirement: School districts must comply with TEA rules and Uniform Grant Guidance (2 C.F.R. Part 200), requiring detailed property records for equipment purchased with federal funds (E-Rate, ESSER, Title I). Texas universities also follow CPA/SPA accounting rules.

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 TEA for fiscal monitoring.

6. Healthcare Compliance

The Requirement: Texas 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 Texas state agencies? A: Yes. Asset Panda is TX-RAMP Authorized, which validates that it meets the required security standards for cloud vendors handling Texas state data. It is available on the NASPO ValuePoint cooperative contract, simplifying procurement.

Q: Does Asset Panda satisfy Texas's procurement laws? A: Yes. Purchasing through the NASPO ValuePoint contract satisfies competitive bid requirements under the Texas Procurement Code, 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 CPA reporting via the SPA System.

Q: Does Asset Panda track sensitive items below the $5,000 threshold? A: Yes. Asset Panda is ideal for tracking Controlled Assets (e.g., IT equipment, firearms) that must be inventoried for accountability, as defined by the CPA.

Glossary of Texas Compliance Terms

• CPA: Texas Comptroller of Public Accounts (Governs state financial policy and procurement).

• TCEQ: Texas Commission on Environmental Quality (Regulates public water systems).

• TEA: Texas Education Agency.

• TX-RAMP: Texas Risk and Authorization Management Program (State security mandate for cloud vendors).

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

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

• Controlled Asset: Tangible property valued between $500 and $4,999 that must be inventoried and tracked for control purposes, per SPA rules.

• SPA System: State Property Accounting System (The state's central inventory and accounting system).

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