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4. Except as specifically authorized by CAPCO in wntmg, CAPCO is liable only for expenditures made in compliance with the cost principles and administrative requirements set forth in Federal OMB Circular No. A-87. CAPCO is not liable for expenditures made in violation of Attachment D, Article 2 of this Contract. (b). Additional Documentation and Financial Monitoring Program 1. Financial Monitoring Program. The SUBCONTRACTOR will adhere to the following financial monitoring requirements in order to receive reimbursement for authorized expenditures and to ensure that the expenditures incurred were reasonable and necessary to the project. i) Payments to the SUBCONTRACTOR will be made only on a reimbursement basis. To receive reimbursement the SUBCONTRACTOR must submit the following: a) Form PT -F1 b) Form PT-F2 c) Supplemental Forms F2-l through F2-4 (if appropriate) d) Copies of checks e) Copies of Invoices t) List of bid responses for purchases over $5,000 up to $15,000 g) Copy of RFP and list of RFP responses (if applicable) ii) If the SUBCONTRACTOR does not have a Purchasing Policy that complies with state law, the SUBCONTRACTOR must adhere to the general provisions of CAPCO's Purchasing Policy, which are outlined below: a) Purchases over $10,000 must be approved by the organization's governing body (i.e. school board, city council, and commissioner's court) b) Purchases above $25,000 require formal competitive sealed bids c) Purchases between $5,000 and $15,000 require informal bids (at least three written quotes) and must be approved by the governing body d) Purchases between $2,500 and $4,999 require informal bids (at least three written quotes) e) Purchases between $300 and $2,499 require at least three verbal quotes t) Purchase less than $300 do not require quotes g) Split purchases to avoid bidding requirements will not be allowed h) Cumulative purchases of like items through the fiscal year could be considered circumvention of the policy if it was reasonable to anticipate the purchases in advance Note: The use of State Contract items can eliminate the need for many of the bidding requirements. However, purchases over $10,000 still require approval of the organization's governing body. iii) The SUBCONTRACTOR is allowed to account for expenses incurred and request reimbursement of outlays under either a cash or an accrual basis, as defined and authorized under the UGMS. To be eligible for reimbursement under this Contract, a cost must have been incurred and either paid by the SUBCONTRACTOR prior to claiming reimbursement from CAPCO or incurred by the last day of the time period CAPCO FY2003 Solid Waste Interlocal Contract 5