WHAT IS FULL DISCLOSURE POLICY?

The Full Disclosure Policy is a government’s policy that requires local officials of provinces, cities, and municipalities to fully disclose particular financial transactions of the LGU to keep their constituents informed of how the LGU budget is managed, disbursed and used.

IMPORTANCE OF FULL DISCLOSURE

• Help minimize, if not totally prevent corruption and misuse of public funds

• Increase the people’s awareness of the available public funds and the allocated amount for development projects in their localities

• Promote honest, transparent, and orderly management of public funds

ROLE OF DILG:

• Help the government ensure maximum compliance to FDP

• Guide those concerned on the proper FDP procedures and processes

• Recommend sanctions against non-complying officials

• Implement a reward and recognition system for complying officials through its Performance Challenge Fund (PCF) and Seal of Good Housekeeping Awards

Where Can LGUs Post their Financial Documents?

1. For a Provincial or City Government, financial documents are to be posted through the following means:

   • LGU Website; AND

   • At least three (3) publicly accessible and conspicuous places within the province or city, OR, to be published in a newspaper of general circulation in the territorial jurisdiction of the local government unit.

2. For a Municipal Government, financial documents are to be posted through the following means:

   • LGU Website, if any; OR

   • At least three (3) publicly accessible and conspicuous places within the province or city; OR

   • To be published in a newspaper of general circulation in the territorial jurisdiction of the local government unit.