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National Budget Circular 542
TRANSPARENCY SEAL SYMBOLISM
A pearl burried inside a tightly-shut shell is practically worthless. Government information is a pearl, meant to be shared with the public in order to maximize its inherent value.
The Transparency Seal, depicated by a shining pearl out of an open shell, is a symbol of policy shift towards openness in access to government information. On the one hand, it hopes to inspire Filipinos in the civil service to be more open to citizen engagement; on the other, to invite the Filipino citizenry to exercise their right to participate in governance.
This initiative is envisioned as a step in the right direction towards solidifying the position of the Philippines as the Pearl of the Orient - a shining example of democratic virtue in the region.
TransCo's compliance with Section 98 of the General Provisions of the FY 2015 General Appropriations Act (GAA) and the Transparency Requirements under Section 43.3 of GCG Memorandum Circular No. 2012-07 or the Code of Corporate Governance.
TRANSPARENCY SEAL DOCUMENTS
II. CORPORATE GOVERNANCE
III. ANNUAL REPORTS AND FINANCIAL REPORTS
A. ANNUAL REPORTS
B. FINANCIAL REPORTS
B.1. STATEMENT OF FINANCIAL POSITIONS
B.2. STATEMENT OF FINANCIAL PERFORMANCE
2022 audited Financial Performance (Date Published: July 20, 2023 | Receipt from COA: July 12, 2023)
B.3. STATEMENT OF PERFORMANCE INDICATORS
2023 audited Performance Indicators (Date Published: July 3, 2024 | Receipt from COA: June 28, 2024)
B.4. QUARTERLY FINANCIAL REPORTS & TRIAL BALANCE
2025
2024
2023
2022
2021
C. LOCAL AND FOREIGN BORROWINGS (NOT APPLICABLE)
D. GOVERNMENT SUBSIDIES AND NET LENDING
E. ALL BORROWINGS GUARANTEED BY THE GOVERNMENT
IV. APPROVED BUDGETS AND TARGETS
A. ANNUAL CORPORATE OPERATING BUDGETS
B. APPROVED TARGETS
V. MAJOR PROJECTS, PROGRAMS AND ACTIVITIES, BENEFICIARIES, AND STATUS OF IMPLEMENTATION
A. PERFORMANCE EVALUATION SYSTEM (PES)
GCG - APPROVED PERFORMANCE SCORECARD
B. STATUS OF IMPLEMENTATION
QUARTERLY MONITORING REPORTS ON PERFORMANCE SCORECARD
2025
2024
2023
VI. PROCUREMENT
A. ANNUAL PROCUREMENT PLAN (NON-CSE)
B. INDICATIVE ANNUAL PROCUREMENT PLAN (NON-CSE)
C. APP - COMMON-USE SUPPLIES AND EQUIPMENT (APP-CSE)
D. PROCUREMENT MONITORING REPORT
E. SUMMARY OF AWARDED CONTRACTS
VII. AGENCY REVIEW AND COMPLIANCE PROCEDURE OF SALN
A. AGENCY REVIEW
B. STATEMENT OF ASSETS, LIABILITIES, AND NET WORTH (SALN) SUBMISSION
VIII. FREEDOM OF INFORMATION
IX. CITIZEN'S CHARTER
X. QUALITY MANAGEMENT SYSTEM
Transparency Seal
NATIONAL BUDGET CIRCULAR 542
National Budget Circular 542, issued by the Department of Budget and Management on August 29, 2012, reiterates compliance with Section 93 of the General Appropriations Act of FY2012. Section 93 is the Transparency Seal provision, to wit:
Sec 93. Transparency Seal. To enchance transparency and enforce accountability, all national government agencies shall maintain a transparency seal on their official websites. The transparency seal shall contain the following: (i) the agency's mandates and functions, names of its officials with their position and designation, and contact information; (ii) annual reports, as required under National Budget Circular Nos. 507 and 507-A dated January 31, 2007 and June 12, 2007, respectively, for the last three (3) years; (iii) their respective approved budgets and corresponding targets immediately upon approval fo this Act; (iv) major programs and projects categorized in accordance with the five key results areas under E.O. No. 43, s. 2011; (v) the program / projects beneficiaries as identified in the applicable special provisions; (vi) status of implementation and program / project evaluation and / or assesment reports; (vii) annual procurement plan, contracts awarded and the name of contractors / suppliers / consultants.
The respective heads of the agencies shall be responsible for ensuring compliance with this section.
A Transparency Seal, prominently displayed on the main page of the website of a particular government agency, is a certificate that it has complied with the requirements of Section 93. This Seal links to a page within the agency's website which contains an index of downloadable items of each of the above-mentioned documents.
NATIONAL TRANSMISSION CORPORATION (TRANSCO)
CORPORATE GOVERNANCE SCORECARD
CY 2024
| QUESTION | Y/N | GUIDING REFERENCE |
|---|---|---|
I. STAKEHOLDER RELATIONSHIPS (15%) | ||
1. DOES THE GOCC DISCLOSE A POLICY THAT: | ||
A. STIPULATES THE EXISTENCE AND SCOPE OF ITS EFFORT TO ADDRESS CUSTOMER'S WELFARE? | YES | |
B. ELABORATES ITS EFFORT TO INTERACT WITH THE COMMUNITIES IN WHICH THEY OPERATE? | YES | |
C. ENSURE THAT ITS VALUE CHAIN IS ENVIRONMENTALLY FRIENDLY OR IS CONSISTENT WITH PROMOTING SUSTAINABLE DEVELOPMENT? | YES | Environmental Compliance Assessment of Concessionaire-Operated Facilities |
2. DOES THE GOCC DISCLOSE THE ACTIVITIES THAT IT HAS UNDETAKEN TO IMPLEMENT THE ABOVEMENTIONED POLICIES? | ||
A. CUSTOMER HEALTH AND SAFETY | YES | Advisory on COVID-19 Booster Vaccination |
B. INTERACTION WITH THE COMMUNITIES | YES | |
C. ENVIRONMENTALLY-FRIENDLY VALUE CHAIN | YES | Environmental Compliance Assessment of Concessionaire-Operated Facilities |
3. DOES THE GOCC HAVE A SEPARATE CORPORATE SOCIAL RESPONSIBILITY (CSR) REPORT/SECTION OR SUSTAINABILITY REPORT/SECTION? | YES | |
4. WHERE STAKEHOLDERS INTERESTS ARE PROTECTED BY LAW, STAKEHOLDERS SHOULD HAVE THE OPPORTUNITY TO OBTAIN EFFECTIVE REDRESS FOR VIOLATION OF THEIR RIGHTS. | YES | |
A. DOES THE GOCC PROVIDE CONTACT DETAILS VIA THE COMPANY'S WEBSITE OR ANNUAL REPORT WHICH STAKEHOLDERS (E.G. CUSTOMERS, SUPPLIERS, GENERAL PUBLIC, ETC.) CAN USE TO VOICE THEIR CONCERNS AND/OR COMPLAINTS FOR POSSIBLE VIOLATION OF THEIR RIGHTS | YES | A Feedback and Complaints Mechanism Page is indicated in TransCo's Citizen's Charter (7th Edition) |
5. PERFORMANCE-ENHANCING MECHANISMS FOR EMPLOYEE PARTICIPATION SHOULD BE PERMITTED TO DEVELOP. | ||
A. DOES THE GOCC EXPLICITLY MENTION THE HEALTH, SAFETY AND WELFARE POLICY FOR ITS EMPLOYEES? | YES | |
B. DOES THE GOCC PUBLISH DATA RELATING TO HEALTH, SAFETY AND WELFARE OF ITS EMPLOYEES? | YES | Clarification on TransCo's Transition Plan Health Safety and Welfare Activities 2022 Memorandum - Engagement of HTC - Medical Doctor Memorandum - Engagement of a Mental Health Specialist Memorandum on the Conduct of the Annual Physical Examination |
C. DOES THE GOCC HAVE TRAINING AND DEVELOPMENT PROGRAMMES FOR ITS EMPLOYEES? | YES | |
D. DOES THE GOCC PUBLISH DATA ON TRAINING AND DEVELOPMENT PROGRAMS FOR ITS EMPLOYEES? | YES | |
6. STAKEHOLDERS INCLUDING INDIVIDUAL EMPLOYEE AND THEIR REPRESENTATIVE BODIES, SHOULD BE ABLE TO FREELY COMMUNICATE THEIR CONCERNS ABOUT ILLEGAL OR UNETHICAL PRACTICES TO THE BOARD AND THEIR RIGHTS SHOULD NOT BE COMPROMISED FOR DOING THIS. | ||
A. DOES THE GOCC HAVE PROCEDURES FOR COMPLAINTS BY EMPLOYEES CONCERNING ILLEGAL (INCLUDING CORRUPTION) AND UNETHICAL BEHAVIOR? | YES | |
B. DOES THE GOCC HAVE PROCEDURES TO PROTECT AN EMPLOYEE/PERSON WHO REVEALS ILLEGAL/UNETHICAL BEHAVIOR FROM RETALIATION? | YES | |
II. DISCLOSURE AND TRANSPARENCY (35%) | ||
7. QUALITY OF ANNUAL REPORT DOES THE GOCC'S ANNUAL REPORT DISCLOSE THE FOLLOWING ITEMS: | ||
A. CORPORATE OBJECTIVES | YES | |
B. FINANCIAL PERFORMANCE INDICATORS | YES | |
C. NON-FINANCIAL PERFORMANCE INDICATORS | YES | |
D. DETAILS OF WHISTLE-BLOWING POLICY | YES | |
E. BIOGRAPHICAL DETAILS (AT LEAST AGE, QUALIFICATIONS, DATE OF FIRST APPOINTMENT, RELEVANT EXPERIENCE, AND ANY OTHER DIRECTORSHIPS OF LISTED COMPANIES) OF DIRECTORS/COMMISSIONERS | YES | |
F. TRAINING AND/OR CONTINUING EDUCATION PROGRAMME ATTENDED BY EACH DIRECTOR/COMMISSIONER | YES | |
8. ARE THE ANNUAL REPORTS DOWNLOADABLE FROM THE GOCC'S WEBSITE? | YES | See II. Annual Reports and Financial Reports under Transparency Seal |
9. CORPORATE GOVERNANCE CONFIRMATION STATEMENT | YES | 2021 Annual Report - Statements 2022 Statement Confirming Full Compliance with TransCo's Manual of Corporate Governance |
DOES THE ANNUAL REPORT CONTAIN A STATEMENT CONFIRMING THE COMPANY'S FULL COMPLIANCE WITH THE CODE OF CORPORATE GOVERNANCE AND WHERE THERE IS NON-COMPLIANCE, IDENTIFY AND EXPLAIN REASONS FOR EACH SUCH ISSUE? | ||
10. TIMELY FILING/RELEASE OF ANNUAL/FINANCIAL REPORTS | ||
A. ARE THE AUDITED ANNUAL FINANCIAL REPORT/STATEMENT RELEASED WITHIN 60 DAYS UPON RECEIPT FROM COA? | YES | 2022 audited Financial Performance (Date Published: July 20 2023) 2022 audited Financial Positions (Date Published: July 20 2023) 2022 audited Performance Indicators (Date Published: July 20 2023) See II. Annual Reports and Financial Reports under Transparency Seal |
B. IS THE ANNUAL REPORT RELEASED WITHIN 90 DAYS FROM RELEASE OF AUDITED FINANCIAL REPORT? | YES | Date of receipt of AFS from COA - July 12 2023 | Date Annual Report was published online - 29 September 2023 |
C. IS THE TRUE AND FAIRNESS/FAIR REPRESENTATION OF THE ANNUAL FINANCIAL STATEMENT/REPORTS AFFIRMED BY THE BOARD OF DIRECTORS/COMMISSIONERS AND/OR THE RELEVANT OFFICERS OF THE COMPANY? | YES | Statement Confirming Truth and Fairness of CY 2022 Financial Statements |
III. RESPONSIBILITIES OF THE BOARD (50%) | ||
11. CORPORATE VISION/ MISSION | ||
A. HAS THE BOARD OF DIRECTORS REVIEWED THE VISION AND MISSION/ STRATEGY IN THE LAST FINANCIAL YEAR? | YES | |
B. DOES THE BOARD OF DIRECTORS MONITOR/ OVERSEE THE IMPLEMENTATION OF THE CORPORATE STRATEGY? | YES | |
12. DID THE GOCC ACHIEVE 90% IN THE PES? | YES | |
13. CODE OF ETHICS OR CONDUCT | ||
A. ARE THE DETAILS OF THE CODE OF ETHICS OR CONDUCT DISCLOSED? | YES | |
B. DOES THE GOCC DISCLOSE THAT ALL DIRECTORS/ COMMISSIONERS, SENIOR MANAGEMENT AND EMPLOYEES ARE REQUIRED TO COMPLY WITH THE CODE? | YES | 2022 Disclosure that all Directors are required to comply with the code 2020 |
C. DOES THE COMPANY DISCLOSE HOW IT IMPLEMENTS AND MONITORS COMPLIANCE WITH THE CODE OF ETHICS OR CONDUCT? | YES | |
14. DOES THE BOARD APPOINT A NOMINATION AND COMPENSATION / REMUNERATION COMMITTEE? | YES | |
15. DID THE NOMINATION AND COMPENSATION/REMUNERATION COMMITTEE MEET AT LEAST TWICE DURING THE YEAR? | NO | |
16. IF YES, IS THE REPORT OF THE NOMINATION AND COMPENSATION/RENUMERATION COMMITTEE PUBLICLY DISCLOSED? | YES | |
17. DOES THE BOARD APPOINT AN AUDIT COMMITEE? | YES | 2022 Board Audit Committee - Notice of Meeting |
18. IF YES, IS THE REPORT OF THE AUDIT COMMITTEE PUBLICLY DISCLOSED? | YES | |
19. DOES AT LEAST ONE MEMBER OF THE AUDIT COMMITTEE HAVE AN AUDIT, ACCOUNTING OR FINANCE BACKGROUND (QUALIFICATION OR EXPERIENCE)? | YES | |
20. DID THE AUDIT COMMITTEE MEET AT LEAST FOUR TIMES DURING THE YEAR? | YES | |
21. DOES THE BOARD APPOINT A RISK MANAGEMENT COMMITEE? | YES | |
22. IF YES, IS THE REPORT ON RISK MANAGEMENT COMMITTEE PUBLICLY DISCLOSED? | YES | Circular No. 2016-015 TransCo Risk Management System Section 11.1.1 page 14 of the TransCo Manual on Corporate Governance |
23. DOES AT LEAST ONE MEMBER OF THE RISK MANAGEMENT COMMITTEE HAVE A BACKGROUND IN FINANCE AND INVESTMENTS? | YES | |
24. BOARD MEETINGS AND ATTENDANCE | ||
A. ARE THE BOARD OF DIRECTORS MEETINGS SCHEDULED AT THE BEGINNING OF THE YEAR? (END OF 01) | YES | |
B. DOES THE BOARD OF DIRECTORS MEET AT LEAST MONTHLY? | YES | |
C. DID THE BOARD OF DIRECTORS MEET ON AT LEAST 75% ON THEIR SCHEDULED MEETINGS? | YES | |
D. HAS EACH OF THE DIRECTORS/COMMISSIONERS ATTENDED AT LEAST 90% OF ALL THE BOARD MEETINGS HELD DURING THE YEAR? | YES | |
E. DID THE BOARD OF DIRECTORS MEET SEPARATELY AT LEAST ONCE DURING THE YEAR WITHOUT THE PRESIDENT/ CEO PRESENT? | YES | |
25. ACCESS TO INFORMATION | ||
A. DOES THE GOCC HAVE A POLICY THAT STIPULATES BOARD PAPERS FOR BOARD OF DIRECTORS/COMMISSIONERS MEETINGS BE PROVIDED TO THE BOARD AT LEAST THREE (3) WORKING DAYS IN ADVANCE OF THE BOARD MEETING? | YES | |
B. IS THE BOARD SECRETARY TRAINED IN LEGAL, ACCOUNTANCY OR COMPANY SECRETARIAL PRACTICES? | YES | |
26. INTERNAL AUDIT | ||
A. DOES THE COMPANY HAVE A SEPARATE INTERNAL AUDIT FUNCTION? | YES | |
B. DOES THE APPOINTMENT AND REMOVAL OF THE INTEMAL AUDITOR REQUIRE THE APPROVAL OF THE AUDIT COMMITTEE? | YES | Resolution No. 2022-01 - IAD Sr Internal Auditor Appointment |
27. RISK OVERSIGHT | ||
A. DOES THE COMPANY DISCLOSE THE INTERNAL CONTROL PROCEDURES/RISK MANAGEMENT SYSTEMS IT HAS IN PLACE? | YES | Circular No. 2016-015 TransCo Risk Management System Memorandum Order No. 2021-030 (Creation of TransCo Risk Management Council (RMC)) |
B. DOES THE ANNUAL REPORT DISCLOSE THAT THE BOARD OF DIRECTORS/COMMISSIONERS HAS OVERSEEN A REVIEW OF THE COMPANY'S MATERIAL CONTROLS (INCLUDING OPERATIONAL, FINANCIAL AND COMPLIANCE CONTROLS) AND RISK MANAGEMENT SYSTEMS? | YES | 2021 Annual Report - Statements 2022 Statement Confirming Adequacy of Internal Controls 2022 Statement on Review of Financial and Operational System |
C. DOES THE COMPANY DISCLOSE HOW KEY RISKS ARE MANAGED? | YES | Circular No. 2016-015 TransCo Risk Management System Memorandum Order No. 2021-030 (Creation of TransCo Risk Management Council (RMC)) |
D. DOES THE ANNUAL REPORT CONTAIN A STATEMENT FROM THE BOARD OF DIRECTORS OR AUDIT COMMITTEE COMMENTING ON THE ADEQUACY OF THE GOCC'S INTERNAL CONTROLS/RISK MANAGEMENT S SYSTEMS? | YES | 2021 Annual Report - Statements 2022 Statement Confirming Adequacy of Internal Controls 2022 Statement on Review of Financial and Operational System |
28. BOARD CHAIRMAN | ||
DO DIFFERENT PERSONS ASSUME THE ROLES OF CHAIRMAN AND CEO? | YES | |
29. BOARD OF DIRECTORS DEVELOPMENT | ||
A. DOES THE GOCC HAVE ORIENTATION PROGRAMMES FOR NEW DIRECTORS? | YES | |
B. DOES THE GOCC HAVE A POLICY THAT ENCOURAGES DIRECTORS/COMMISSIONERS TO ATTEND ON-GOING OR CONTINUOUS PROFESSIONAL EDUCATION PROGRAMMES? | YES | Certification - Budget Allocation for TransCo Board |
C. DID ALL APPOINTIVE DIRECTORS ATTEND AT LEAST 1 TRAINING FOR THE CALENDAR YEAR? | YES | Dir. Cui - Finance for Directors |
30. BOARD APPRAISAL | ||
A. IS AN ANNUAL PERFORMANCE ASSESSMENT CONDUCTED OF THE BOARD OF DIRECTORS? | YES | 2022 Disclosure on the In-House Board and Committee Appraisal |
B. DOES THE GOCC DISCLOSE THE PROCESS FOLLOWED IN CONDUCTING THE BOARD ASSESSMENT? | YES | 2022 Disclosure on the In-House Board and Committee Appraisal |
C. DOES THE GOCC DISCLOSE THE CRITERIA USED IN THE BOARD ASSESSMENT? | YES | 2022 Disclosure on the In-House Board and Committee Appraisal |
31. COMMITTEE APPRAISAL | ||
IS AN ANNUAL PERFORMANCE ASSESSMENT CONDUCTED OF THE BOARD OF DIRECTORS COMMITTEES? | YES | 2022 Disclosure on the In-House Board and Committee Appraisal GCG Memorandum Circular No. 2014-03 |
BONUS | ||
STAKEHOLDER RELATIONSHIPS | ||
1. DOES THE GOCC PRACTICE GLOBAL REPORTING INDEX (GRI) ON ITS ANNUAL REPORTS? | NOT APPLICABLE | Not Applicable |
DISCLOSURE AND TRANSPARENCY | ||
2. IS THE AUDITED ANNUAL FINANCIAL REPORT OR STATEMENT RELEASED WITHIN 30 DAYS UPON RECEIPT FROM COA? | YES | 2022 audited Financial Performance (Date Published: July 20 2023) 2022 audited Financial Positions (Date Published: July 20 2023) 2022 audited Performance Indicators (Date Published: July 20 2023) See II. Annual Reports and Financial Reports under Transparency Seal |
PENALTY | ||
RESPONSIBILITIES OF THE BOARD | ||
1. ARE THERE MEMBERS OF THE BOARD OF DIRECTORS WHO HOLD MORE THAN FIVE (5) POSITIONS IN GOCCS AND PLCS? | NO | |
2. IS THERE NON-COMPLIANCE WITH GOOD GOVERNANCE CONDITIONS? | NO |
TransCo's FOI
CITIZEN'S CHARTER
FEEDBACK & REDRESS MECHANISM
Please let us know how we have served you by accomplishing our Feedback Form (click here) available also beside the Customer Feedback Drop Box located at the Main Building Lobby.
You can also e-mail us at customerservice@transco.ph.
Thank you for helping us improve our services.
Disclosure Requirements Sec. 25, R.A. 10149
I. ABOUT THE CORPORATION
II. CORPORATE GOVERNANCE
III. ANNUAL REPORTS AND FINANCIAL REPORTS
A. ANNUAL REPORTS
B. FINANCIAL REPORTS
B.1. STATEMENT OF FINANCIAL POSITIONS
B.2. STATEMENT OF FINANCIAL PERFORMANCE
2022 audited Financial Performance (Date Published: July 20, 2023 | Receipt from COA: July 12, 2023)
B.3. STATEMENT OF PERFORMANCE INDICATORS
2023 audited Performance Indicators (Date Published: July 3, 2024 | Receipt from COA: June 28, 2024)
B.4. QUARTERLY FINANCIAL REPORTS & TRIAL BALANCE
2025
2024
2023
2022
2021
C. LOCAL AND FOREIGN BORROWINGS (NOT APPLICABLE)
D. GOVERNMENT SUBSIDIES AND NET LENDING
E. ALL BORROWINGS GUARANTEED BY THE GOVERNMENT
GCG - APPROVED PERFORMANCE SCORECARD
2025
2024
2023
VII. AGENCY REVIEW AND COMPLIANCE PROCEDURE OF SALN
A. AGENCY REVIEW
B. STATEMENT OF ASSETS, LIABILITIES, AND NET WORTH (SALN) SUBMISSION
IX. CITIZEN'S CHARTER
