2011-197 - Laserfiche WebLink

Home Browse Search

Attachment F Warranties and Representations Financial Management Recipient ' s financial management system must include the following : ( 1 ) Accurate , current and complete disclosure of the financial results of this project or program ( 2 ) Records that identify the source and use of funds for all activities . These records shall contain information pertaining to grant awards , authorizations , obligations , unobligated balances , assets , outlays , income and interest . ( 3 ) Effective control over and accountability for all funds , property and other assets . Recipient shall safeguard all assets and assure that they are used solely for authorized purposes . (4) Comparison of expenditures with budget amounts for each Request For Payment . Whenever appropriate , financial information should be related to performance and unit cost data . ( 5) Written procedures to determine whether costs are allowed and reasonable under the provisions of the applicable OMB cost principles and the terms and conditions of this Agreement . (6 ) Cost accounting records that are supported by backup documentation . Competition All procurement transactions shall be done in a manner to provide open and free competition . The Recipient shall be alert to conflicts of interest as well as noncompetitive practices among contractors that may restrict or eliminate competition or otherwise restrain trade . In order to ensure excellent contractor performance and eliminate unfair competitive advantage , contractors that develop or draft specifications , requirements , statements of work , invitations for bids and/or requests for proposals shall be excluded from competing for such procurements . Awards shall be made to the bidder or offeror whose bid or offer is responsive to the solicitation and is most advantageous to the Recipient , considering the price , quality and other factors . Solicitations shall clearly set forth all requirements that the bidder or offeror must fulfill in order for the bid or offer to be evaluated by the Recipient . Any and all bids or offers may be rejected when it is in the Recipient's interest to do so . Codes of conduct . The Recipient shall maintain written standards of conduct governing the performance of its employees engaged in the award and administration of contracts . No employee , officer , or agent shall participate in the selection , award , or administration of a contract supported by public grant funds if a real or apparent conflict of interest would be involved . Such a conflict would arise when the employee , officer , or agent , any member of his or her immediate family , his or her partner , or an organization which employs or is about to employ any of the parties indicated , has a financial or other interest in the firm selected for an 31