A Compliance and Procurement Framework for Wyoming

See how Asset Panda helps WY agencies meet GASB 34, DEQ asset management, and WDE grant compliance while simplifying NASPO procurement through A&I.

Executive Summary: Asset Panda for Wyoming

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 Wyoming.

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 Wyoming security standards)
Procurement Vehicle	NASPO ValuePoint Cooperative Purchasing Organization
Contract ID	MA 999 190000000277 (Cloud Solutions Contract adopted by Wyoming)

Section 1: Wyoming Procurement Matrix

How to purchase Asset Panda in compliance with the Wyoming Department of Administration & Information (A&I) rules.

Component	Detail
State Contract Vehicle	NASPO ValuePoint Cooperative Purchasing Organization
Procurement Authority	Department of Administration & Information (A&I) / General Services Division
Vendor Portal	Public Purchase (A&I's eProcurement service)
Formal Bid Threshold	$15,000 (Competitive sealed bidding required for supplies and services exceeding this amount).
Procurement Advantage	Using the NASPO ValuePoint contract satisfies competitive bid requirements under Wyoming Statute (W.S. 9-2-3204), streamlining the acquisition of IT software and cloud services for state and local agencies.

Section 2: Compliance & Standards Matrix

How Asset Panda satisfies specific Wyoming regulatory mandates.

Regulatory Body / Standard	Requirement	Asset Panda Solution
GASB 34 / A&I (Financial Reporting)	Track and depreciate Capital Assets ($5,000 threshold) and maintain accurate Annual Inventory records.	Automates straight-line depreciation for assets meeting the $5,000 capitalization threshold.
State Auditor / A&I (Property Control)	Inventory "Inventoriable Items" (sensitive, high-theft items) valued at $500 or more.	Tracks Inventoriable Items (e.g., computers, weapons, equipment $500–$4,999) with full audit trails to satisfy the State Auditor's mandate.
WY DEQ (Environmental Quality)	Develop Asset Management Plan (AMP) as required for loan recipients and to meet Capacity Development goals.	Provides inventory, condition assessment, and maintenance logs necessary to qualify for SRF funding and prove system sustainability to DEQ.
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.
WY Secretary of State	Maintain strict Inventory and Chain of Custody log for all voting systems and their components (W.S. 22-11-103).	Logs every movement of election tabulators, media, and seals with timestamps and security records, ensuring integrity for post-election audits.
WDE (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 IDEA funds managed in the WINDS system.

Section 3: Detailed Compliance Frameworks

1. Financial & Government Compliance (GASB 34)

The Requirement: The Wyoming State Auditor's Office (SAO) and the A&I mandate that agencies report fixed assets. The statutory capitalization threshold for equipment is $5,000. However, the SAO requires a monthly report detailing purchases between $500 and $4,999 for Inventoriable Items (high-risk assets).

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 reporting requirements via the state's WyoCloud financial management system.

• Inventoriable Items: Asset Panda specializes in tracking Inventoriable Items (e.g., computers, portable electronics, and firearms, which must be inventoried regardless of cost). The platform provides the auditable monthly reports necessary to satisfy the SAO's mandate for loss prevention.

Micro-Scenario: A county department purchases 15 laptops at $1,200 each. Asset Panda records the purchase in the correct expenditure object code, tracks the laptops as Inventoriable Items in a Master Inventory File, and records the custodian to ensure accountability per A&I policy.

2. Public Works, Utilities & Infrastructure

Agency Definitions:

• WY DEQ: Wyoming Department of Environmental Quality.

The Requirement: The Wyoming DEQ requires public water systems to demonstrate Capacity Development, which includes performing a Self-Assessment Questionnaire that covers asset management. AMPs are required for loan recipients and are key to securing Drinking Water State Revolving Fund (DWSRF) financing.

The Asset Panda Solution: Asset Panda helps utilities comply with the DEQ mandate by documenting and tracking critical infrastructure assets (pumps, treatment plants, distribution networks). This verifiable record supports asset condition assessment, providing the data needed to secure DWSRF assistance and prove system sustainability.

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 Wyoming Secretary of State mandates stringent security for elections. W.S. 22-11-103 requires counties to maintain an inventory of all electronic voting systems. Voting machines must be securely sealed with a numbered metal seal and the protective counter reading must be recorded.

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, protective counter, and seal status of tabulators and ExpressVote machines, providing the required certified documentation to the Secretary of State.

5. Education (WDE & University Systems)

Agency Definition:

• WDE: Wyoming Department of Education.

The Requirement: School districts must comply with WDE rules and Uniform Guidance (2 C.F.R. Part 200), requiring property records for equipment purchased with federal funds (IDEA, ESSA). The WDE uses the Wyoming Interoperable Data System (WINDS) for data collection.

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 WDE for fiscal monitoring.

6. Healthcare Compliance

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

Q: Does Asset Panda satisfy Wyoming's bid laws? A: Yes. Purchasing through the NASPO ValuePoint contract satisfies competitive bid requirements, streamlining the acquisition of IT software and cloud services over the $15,000 formal bid threshold.

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 (>$5k threshold), generating the data needed for GASB 34 compliance and State Auditor's Office 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., all equipment $500 or more) that require inventory and accountability to safeguard against loss, as defined by the State Auditor's Office.

Glossary of Wyoming Compliance Terms

• A&I: Department of Administration & Information (Central procurement and state IT authority).

• WY DEQ: Wyoming Department of Environmental Quality (Regulates water systems).

• WDE: Wyoming 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.

• Inventoriable Items: Tangible property valued between $500 and $4,999 that must be inventoried and tracked for control purposes.

• W.S. 9-2-3204: Wyoming Statute governing the Procurement Act and bid thresholds.

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