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Attachment F <br /> Warranties and Representations <br /> Financial Management <br /> Recipient ' s financial management system must include the following : <br /> ( 1 ) Accurate , current and complete disclosure of the financial results of this project or <br /> program <br /> (2 ) Records that identify the source and use of funds for all activities . These records <br /> shall contain information pertaining to grant awards , authorizations , obligations , <br /> unobligated balances , assets , outlays , income and interest . <br /> ( 3 ) Effective control over and accountability for all funds , property and other assets . <br /> Recipient shall safeguard all assets and assure that they are used solely for <br /> authorized purposes . <br /> (4) Comparison of expenditures with budget amounts for each Request For Payment . <br /> Whenever appropriate , financial information should be related to performance and <br /> unit cost data . <br /> ( 5 ) Written procedures to determine whether costs are allowed and reasonable under <br /> the provisions of the applicable OMB cost principles and the terms and conditions of <br /> this Agreement . <br /> ( 6 ) Cost accounting records that are supported by backup documentation . <br /> Competition <br /> All procurement transactions shall be done in a manner to provide open and free competition . <br /> The Recipient shall be alert to conflicts of interest as well as noncompetitive practices among <br /> contractors that may restrict or eliminate competition or otherwise restrain trade . In order to <br /> ensure excellent contractor performance and eliminate unfair competitive advantage , contractors <br /> that develop or draft specifications , requirements , statements of work , invitations for bids and/or <br /> requests for proposals shall be excluded from competing for such procurements . Awards shall be <br /> made to the bidder or offeror whose bid or offer is responsive to the solicitation and is most <br /> F - 1 <br />