GOCC Disclosure

The Republic Act No. 10149, the GOCC Governance Act of 2011, seeks to bolster the financial viability and fiscal discipline of government-owned and -controlled corporations (GOCCs) to ensure that they efficiently deliver their services and adequately respond to the various requirements of the general public. The Act also seeks to strengthen the role of the government in managing the GOCCs.

A critical component in the achievement of these objectives is the disclosure requirements for GOCCs stipulated in Section 25 of the Act. The section requires all GOCCs, including PSALM Corporation, to maintain a web site that will contain, among other items, their latest annual audited financial and performance report; audited financial statements in the past five years; current corporate operating budget; complete compensation package of all board members and officers, including travel, representation, transportation, and any other form of expenses or allowances; local and foreign borrowings, including loans guaranteed by the government and government subsidies; and performance scorecards and strategy maps.

The disclosure requirements will allow the government to closely monitor the operations of the GOCCs to ensure that pertinent assets and resources are used efficiently; that liabilities, including subsidies, are prudently incurred; and that all activities and services are conducted and implemented in a transparent, professional and responsible manner.

Disclosure Requirements

  1. Institutional Matters
  2. Governing Board
    1. Board Directors
    2. Board Committees, Policies and Activities
  3. Financial and Operational Matters
    1. Annual Audited FS and Corporate Accomplishment Report
    2. Quarterly Reports and Trial Balance
    3. Corporate Operating Budget:    2019   |    2018   |    2017   |    2016
    4. Local and Foreign Borrowings
    5. Government Subsidies and Net Lending
    6. Borrowings Guaranteed by the Government
    7. Risk Factors and Risk Management
      • ERM System
      • Significant Risk Exposures to PSALM
      • AuditCom Report on the Adequacy of PSALM's Material Controls / Risk Management Systems
    8. Performance Evaluation System
  4. On PSALM's Governance Matters:
    1. Corporate Philosophy
    2. Charter Statement
    3. Performance Scorecard
    4. Balance Scorecard
    5. Strategy Map
    6. Organizational Chart
    7. Manual of Corporate Governance
    8. Employee Training and Development Programs
    9. Corporate Social Responsibility
    10. Code of Ethics
    11. Procedures on Protecting Employee's Rights on Reporting Illegal Practices and/or Unethical Behaviour
    12. No Gift Policy
    13. Whistleblowing Policy   |  GCG Whistleblowing Policy