WHAT IS THE FULL DISCLOSURE POLICY (FDP)?
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.
WHY IS THE FDP IMPORTANT?
a) It promotes honest, transparent, and orderly management of public funds
b) It helps minimize, if not totally prevent corruption and misuse of public funds
c) It increase the people’s awareness of the available public funds and the allocated amount for development projects in their localities.
Section 352, Republic Act No. 7160, otherwise known as the Local Government Code of 1991: “..posting within 30 days from end of each fiscal year in at least three publicly accessible and conspicuous places in the local government unit, a summary of all revenues collected and funds received, including the appropriations and disbursements of such funds during the preceding fiscal year.”
Republic Act No. 9184, also known as the Government Procurement Reform Act: “…posting of the Invitation to Bid, Notice to Proceed at Approved Contract in procuring entity’s premises, in newspapers of general circulation, the Philippine Government Electric Procurement System (PhilGEPS) and the website of the procuring entity.”
Section 84, Republic Act No. 10155 (General Appropriations Act): “..Strict compliance with Sections 288 and 354 of RA No. 7160 and DILG Memorandum Circular No. 2011-134, entitled “Full Disclosure Policy relative to the posting of Local Budget and Finances, Bids and Public Offerings and Status of Programs and Projects”, is hereby mandated: Such required documents shall be posted on billboards in all publicly accessible and conspicuous places in the local government unit, in the LGU website and/or in print media of national or local circulation.
Article III, Section 7 of the 1987 Philippine Constitution: “The right of the people to information on matters of public concern shall be recognized. Access to official records, and to documents and papers pertaining to official acts, transactions, or decisions, as well as to government research data used as basis for policy development, shall be afforded the citizen, subject to such limitations as may be provided by law.”