A Compliance and Procurement Framework for Wisconsin

See how Asset Panda helps WI agencies meet GASB 34, DNR asset management, and DPI grant compliance while simplifying NASPO procurement through the DOA.

Executive Summary: Asset Panda for Wisconsin

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 Wisconsin.

The platform is explicitly designed to track Capital Assets (>$5k threshold), Inventoriable Items, and Grant-Funded Equipment (2 C.F.R. Part 200).

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

Section 1: Wisconsin Procurement Matrix

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

Component	Detail
State Contract Vehicle	NASPO ValuePoint Cooperative Purchasing Organization
Cooperative Program	Cooperative Purchasing Program (Available to all municipalities per Wis. Stat. 16.70)
Procurement Authority	Department of Administration (DOA) State Bureau of Procurement (SBOP)
Formal Bid Threshold	$50,000 (Purchases over this amount require a sealed bid process by DOA).
Procurement Advantage	Using the NASPO ValuePoint contract satisfies competitive bid requirements under state law, eliminating the need for formal solicitation and leveraging volume pricing for state and local agencies.

Section 2: Compliance & Standards Matrix

How Asset Panda satisfies specific Wisconsin regulatory mandates.

Regulatory Body / Standard	Requirement	Asset Panda Solution
GASB 34 / DOA (Financial Reporting)	Track and depreciate Capital Assets ($5,000 threshold) and comply with Biennial Inventory requirements.	Automates straight-line depreciation for assets meeting the $5,000 capitalization threshold.
DOA (Property Control)	Inventory "Permanent Movable Property" and sensitive items for accountability and insurance purposes.	Tracks Inventoriable Items ($500+ or sensitive) with full audit trails and custody logs to prevent loss and satisfy DOA property standards.
WI DNR (Environmental Protection)	Implement robust Asset Management Plan (AMP) to minimize life-cycle cost and ensure system sustainability.	Provides inventory, condition assessment, and maintenance logs necessary to meet DNR requirements for water utilities and qualify for SRF loans.
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.
WI Elections Commission (WEC)	Secure Chain of Custody log for voting equipment and sealed ballots (Wis. Stat. 5.84).	Logs every movement of election tabulators, sealed ballots, and media with timestamps and digital seals, ensuring integrity for post-election audits.
WI DPI (Education Grants)	2 C.F.R. Part 200 compliance, requiring detailed property records for federal grants managed in WISEgrants.	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 Wisconsin Department of Administration (DOA) requires state agencies and universities to follow GASB 34 and maintain an accurate Asset Management System. The standard capitalization threshold for equipment is $5,000 or more.

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 asset status, fulfilling GASB 34 reporting requirements.

• Inventoriable Items: DOA policy and UW System policy require tracking of Inventoriable Items (movable property with a useful life >1 year) to protect the state's investment. Asset Panda provides the digital custody and condition tracking for these lower-value assets.

Micro-Scenario: A municipal clerk needs to reconcile all assets (capital and non-capital) for the mandated Biennial Inventory required by the DOA. Asset Panda's mobile inventory system allows the clerk to scan and verify the location of every asset, generating the reconciliation report needed for the external auditor.

2. Public Works, Utilities & Infrastructure

Agency Definitions:

• WI DNR: Wisconsin Department of Natural Resources.

The Requirement: The WI DNR strongly promotes Asset Management as a best business practice for water systems, requiring an Asset Inventory that details condition, age, criticality, and cost. Successful AMPs are vital for securing funding from the State Revolving Fund (SRF).

The Asset Panda Solution: Asset Panda helps utilities comply with the DNR mandate by documenting and tracking critical infrastructure assets (pumps, wells, pipes). This creates a verifiable record of maintenance, condition, and remaining useful life, which is essential data for DNR program review and securing SRF assistance.

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 (Elections Commission)

The Requirement: The Wisconsin Elections Commission (WEC) mandates stringent security for elections. Wis. Stat. § 5.84 requires that voting equipment be tested prior to elections, and all ballots and programs used must be sealed and retained under the custody of the municipal clerk in a secure location.

The Asset Panda Solution: Asset Panda is used by municipal clerks to implement digital chain of custody procedures. It creates a timestamped audit log documenting the serial number of the tabulator, the program seal status, and the transfer of sealed ballot containers, guaranteeing the integrity of the asset for post-election audits.

5. Education (WI DPI & University Systems)

Agency Definition:

• WI DPI: Wisconsin Department of Public Instruction.

The Requirement: School districts must comply with DPI rules and Uniform Guidance (2 C.F.R. Part 200), requiring property records for equipment purchased with federal funds. The DPI requires tracking for assets with a useful life of more than one year, including pilferable items such as computers.

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 DPI for fiscal monitoring via WISEgrants.

6. Healthcare Compliance

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

Q: Does Asset Panda satisfy Wisconsin's procurement 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 DOA reporting.

Q: Does Asset Panda track sensitive items below the $5,000 threshold? A: Yes. Asset Panda is ideal for tracking Inventoriable Items (e.g., portable IT equipment, firearms) that require inventory and accountability to safeguard against loss, as defined by DOA policy.

Glossary of Wisconsin Compliance Terms

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

• WI DNR: Wisconsin Department of Natural Resources (Regulates water systems).

• WI DPI: Wisconsin Department 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.

• Inventoriable Items: Tangible property (unit cost $500+) that must be tagged and tracked for control purposes, per DOA policy.

• WEC: Wisconsin Elections Commission.

• WISEgrants: Wisconsin's official electronic grants management system.

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