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Attachment D <br /> Warranties and Representations <br /> Financial Management <br /> Recipient 's financial management system shall provide for the following : <br /> ( 1 ) Accurate , current and complete disclosure of the financial results of this project or program <br /> (2) Records that identify the source and use of funds for all activities . These records shall <br /> contain information pertaining to grant awards , authorizations , obligations , unobligated <br /> balances , assets , outlays , income and interest . <br /> (3) Effective control over and accountability for all funds , property and other assets . Recipient <br /> shall safeguard all assets and assure that they are used solely for authorized purposes . <br /> (4) Comparison of expenditures with budget amounts for each Request For Payment . Whenever <br /> appropriate , financial information should be related to performance and unit cost data . <br /> (5) Written procedures to determine whether costs are allowed and reasonable under the <br /> provisions of the applicable cost principles and the terms and conditions of this Agreement . <br /> (6) Cost accounting records that are supported by backup documentation . <br /> Competition . <br /> All procurement transactions shall be conducted in a manner to provide open and free competition . The <br /> Recipient shall be alert to conflicts of interest as well as noncompetitive practices among contractors that <br /> may restrict or eliminate competition or otherwise restrain trade . In order to ensure objective contractor <br /> performance and eliminate unfair competitive advantage , contractors that develop or draft specifications , <br /> requirements , statements of work, invitations for bids and/or requests for proposals shall be excluded <br /> from competing for such procurements . Awards shall be made to the bidder or offer or whose bid or offer <br /> is responsive to the solicitation and is most advantageous to the Recipient , considering the price , quality <br /> and other factors . Solicitations shall clearly set forth all requirements that the bidder or offer or must fulfill <br /> in order for the bid or offer to be evaluated by the Recipient . Any and all bids or offers may be rejected <br /> when it is in the Recipient 's interest to do so . <br /> Codes of conduct . <br /> The Recipient shall maintain written standards of conduct governing the performance of its employees <br /> engaged in the award and administration of contracts . No employee , officer, or agent shall participate in <br /> the selection , award , or administration of a contract supported by public grant funds if a real or apparent <br /> conflict of interest would be involved . Such a conflict would arise when the employee , officer, or agent , <br /> any member of his or her immediate family , his or her partner, or an organization which employs or is <br /> about to employ any of the parties indicated herein , has a financial or other interest in the firm selected for <br /> an award . The officers , employees , and agents of the Recipient shall neither solicit nor accept gratuities , <br /> favors , or anything of monetary value from contractors , or parties to subcontracts . The standards of <br /> conduct shall provide for disciplinary actions to be applied for violations of such standards by officers , <br /> employees , or agents of the Recipient . <br /> 36 <br />