| PARTICULARS | FILE | ||
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| I. Stakeholder Relationships | |||
| 1. Does the GOCC disclose a policy that: Stipulates the existence and scope of its effort to address customer’s welfare? | |||
| a. Stipulates the existence and scope of its effort to address customer’s welfare? |
The agency’s external and internal stakeholders are posted on TPB’s official website. 1. Recognition of Stakeholders Revised TPB Code of Corporate Governance approved under Board Resolution No. 253, Series of 2020. |
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| b. Elaborates its efforts to interact with the communities in which they operate? |
The specific policy is under Chapter VII Sec 33 Corporate Social Responsibility and Relations with Stakeholders in the TPB Code of Corporate Governance. The identification of Stakeholder including the requirements, needs and expectations incomliance with ISO 9001:2015 Standards is conducted at least once anually by TPB and duly posted under Item I of the Corporate Governance Seal under the Corporate GOvernance Scorecard tab in the TPB Corpoarate website Standard practices in direct engagements/immersions with communities include onboarding of employee participant prior to event implementation for Corporate Responsibility Programs implemented and coordination with local tourism offices/LGUs for Focus Group Discussion as part of the Community Needs Assessment for Community Based Tourism Programs. Since 2015, TPB’s interaction with communities has been anchored on the CSR Statement. This policy clearly indicates that the CSR programs, projects, and activities that the agency will implement should be based on either of the following objectives: |
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| c. Ensure that its value chain is environmentally friendly or is consistent with promoting sustainable development? |
In recent years, TPB has actively integrated sustainability across its tourism value chain, ensuring that our programs, partnerships, and operations align with environmentally responsible and socially inclusive practices. Building on these foundations, TPB further strengthened its commitment in the last quarter of 2024 by formulating its strategic direction for the midterm of the administration. This direction reinforces our adherence to the Sustainable Development Goals, ensuring that our initiatives continue to contribute to global sustainability while fostering long-term resilience in the tourism sector. TPB’s Strategic Directions for 2025–2028 are encapsulated in the theme: “Taking Philippine Tourism to Excellence: Marketing a Sustainable, Diverse, and Experiential Destination.” These directions serve not just as a roadmap but as a testament to our dedication to elevating Philippine tourism. Grounded in our mandate and aligned with both global and national tourism development priorities, they will guide the selection, conceptualization, and execution of our programs, projects, and activities. Moving forward, TPB will further enhance strategic partnerships to promote sustainable, gender-responsive, and community-based tourism practices. We will continue working closely with stakeholders across the tourism value chain – tour operators, accommodation providers, local communities, and industry partners to embed sustainability at every stage of tourism development. By reinforcing eco-friendly standards, responsible sourcing, and inclusive growth strategies, we aim to cultivate a resilient and environmentally conscious tourism sector. TPB Strategic Directions 2025-2028 |
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| 2. Does the GOCC disclose the activities that it has undertaken to implement the abovementioned policies? | |||
| a. Customer health and safety | Yes. In 2024, the TPB implemented several technical seminars and health and safety programs such as health fora, sports activities, first aid and basic life support seminars, and the adoption of flexible work arrangements.
Office Order no. 2024-066 – Participation in TPB Inhouse Learning Sessions In 2022, TPB provided antigen test kits to personnel and other personal protective items such as mask and alcohol
Purchase of PPEsCOO-approved TPB Mental Health Program (02 June 2021); COO-approved Learning and Development Plan which includes Mental Health Program Activities such as mental health sessions, etc.; TPB Policy on Occupational Safety and Security (4 August 2021) |
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| b. Interaction with the communities |
The TPB through the Corporate Planning and Business Development Department (CPBDD) has been annually conducting the Corporate Social Responsibility (CSR) Program since 2015. The program involves engagement or interaction with locals and communities in the Philippines. On 17-19 January 2024, TPB conducted a community assistance to the tourist boatmen and residents of Palaui Island. The organization provided the tourist boatmen with 52 motorboat roof covers, 52 solar-powered lamps, 102 tote bags with rubber slippers, dri-fit long sleeves, and bucket hats. Since one of the main focuses of TPB’s CSR program is highlighting the importance of education and the youth, during this project, 260 students of Palaui Island received 210 elementary kits and 50 kindergarten kits. They also received CSR drawstring bags containing a raincoat, rubber slippers, and a bucket hat. In addition to these items, 300 kids on the island also enjoyed the soup kitchen prepared by the Palaui Women Catering, the official caterer of Palaui Island. The TPB Website provides a page which reflects all CSR Reports. Since 2015, the Tourism Promotions Board (TPB), through its Corporate Planning and Business Development Department (CPBDD), has remained committed to its Corporate Social Responsibility (CSR) Program, which emphasizes meaningful engagement with local communities, promoting sustainable tourism, and advancing environmental protection. Each activity serves as a platform to foster deeper connections with communities while addressing their unique needs and preserving natural resources vital to tourism and livelihoods. In January 2024, TPB launched its first CSR initiative for the year in Palaui Island. This project centered on assisting the tourist boatmen and residents while showcasing the importance of education and youth empowerment. By providing essential items such as motorboat roof covers, solar-powered lamps, school kits, and protective gear, the program not only supported daily life and work but also strengthened ties between TPB and the community. The immersive experience was further enriched by a soup kitchen that brought together 300 children, highlighting TPB’s dedication to nurturing bonds through genuine interaction. Continuing its efforts, TPB partnered with the Save Palawan Seas Foundation (SPSF) for its second CSR project in Taytay, Palawan, held in June 2024. Under the banner SUSTAINABLISEA: SPSF x TPB Create Hope, the initiative bridged the goals of sustainable tourism, community empowerment, and environmental conservation. Activities spanned multiple locations, fostering relationships with the local community through educational seminars, the turnover of school supplies, and immersive events like games and raffles. Environmental efforts, including coral propagation, mangrove planting, and native tree planting, reinforced the message of preserving the ecosystems upon which livelihoods depend, aligning with TPB’s vision of a sustainable tourism future. Culminating its 2024 CSR endeavors, TPB organized a coastal clean-up at the Las Piñas-Parañaque Wetland Park (LPPWP) in December. This Ramsar site, often referred to as Metro Manila’s “Last Coastal Frontier,” became the setting for TPB’s immersion in environmental stewardship. TPB employees, led by Chief Operating Officer Maria Margarita Montemayor Nograles, participated actively in the clean-up, supported by learning sessions conducted by the Society for the Conservation of Philippine Wetlands (SCPW) and the Department of Environment and Natural Resources Protected Area Management Office (DENR-PAMO). A guided tour of the wetland further deepened the participants’ appreciation for its biodiversity and the critical role of conservation in sustainable tourism. TPB’s CSR Program for 2024 exemplifies its unwavering commitment to fostering partnerships with communities, promoting sustainable practices, and safeguarding the environment. These initiatives underscore the organization’s mission to integrate tourism development with genuine care for people and the planet, setting a benchmark for future efforts in sustainable tourism. |
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| c. Environmentally-friendly value chain |
The TPB Energy Efficiency and Conservation Committee submitted timely EECP Monthly reports to the Department of Energy (DOE) on 15 March 2024 and generated 23.62% savings in electricity consumption for 2023 against the approved 2019 baseline data
TPB Sustainability Practices Energy Saving Poster
TPB Energy Efficiency and Conservation Committee Monthly Reports |
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| 3. Does the GOCC have a separate corporate social responsibility (CSR) report/section or sustainability report / section? |
The TPB Website provides a page which reflects all CSR Reports. Since 2015, the Tourism Promotions Board (TPB), through its Corporate Planning and Business Development Department (CPBDD), has remained committed to its Corporate Social Responsibility (CSR) Program, which emphasizes meaningful engagement with local communities, promoting sustainable tourism, and advancing environmental protection. Each activity serves as a platform to foster deeper connections with communities while addressing their unique needs and preserving natural resources vital to tourism and livelihoods. In January 2024, TPB launched its first CSR initiative for the year in Palaui Island. This project centered on assisting the tourist boatmen and residents while showcasing the importance of education and youth empowerment. By providing essential items such as motorboat roof covers, solar-powered lamps, school kits, and protective gear, the program not only supported daily life and work but also strengthened ties between TPB and the community. The immersive experience was further enriched by a soup kitchen that brought together 300 children, highlighting TPB’s dedication to nurturing bonds through genuine interaction. Continuing its efforts, TPB partnered with the Save Palawan Seas Foundation (SPSF) for its second CSR project in Taytay, Palawan, held in June 2024. Under the banner SUSTAINABLISEA: SPSF x TPB Create Hope, the initiative bridged the goals of sustainable tourism, community empowerment, and environmental conservation. Activities spanned multiple locations, fostering relationships with the local community through educational seminars, the turnover of school supplies, and immersive events like games and raffles. Environmental efforts, including coral propagation, mangrove planting, and native tree planting, reinforced the message of preserving the ecosystems upon which livelihoods depend, aligning with TPB’s vision of a sustainable tourism future. Culminating its 2024 CSR endeavors, TPB organized a coastal clean-up at the Las Piñas-Parañaque Wetland Park (LPPWP) in December. This Ramsar site, often referred to as Metro Manila’s “Last Coastal Frontier,” became the setting for TPB’s immersion in environmental stewardship. TPB employees, led by Chief Operating Officer Maria Margarita Montemayor Nograles, participated actively in the clean-up, supported by learning sessions conducted by the Society for the Conservation of Philippine Wetlands (SCPW) and the Department of Environment and Natural Resources Protected Area Management Office (DENR-PAMO). A guided tour of the wetland further deepened the participants’ appreciation for its biodiversity and the critical role of conservation in sustainable tourism. TPB’s CSR Program for 2024 exemplifies its unwavering commitment to fostering partnerships with communities, promoting sustainable practices, and safeguarding the environment. These initiatives underscore the organization’s mission to integrate tourism development with genuine care for people and the planet, setting a benchmark for future efforts in sustainable tourism. |
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| 4. Where stakeholder interests are protected by law, stakeholders should have the opportunity to obtain effective redress for violation of their rights. | |||
| 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? |
Through the TPB website, stakeholders are given the channels to voice out their concerns and/or complaints: Stakeholder concerns and/or complaints can be sent in the form of letter, email, or phone call. |
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| 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. In 2024, the TPB implemented several technical seminars and health and safety programs such as health fora, sports activities, first aid and basic life support seminars, and the adoption of flexible work arrangements. |
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| b. Does the GOCC publish data relating to health, safety and welfare of its employees? |
Yes. In 2024, the TPB implemented several technical seminars and health and safety programs such as health fora, sports activities, first aid and basic life support seminars, and the adoption of flexible work arrangements. |
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| c. Does the GOCC have training and development programmes for its employees? |
The TPB PHRDD has an approved 2024 Training Plan and Work Program Calendar for the continuous learning and development of its employees in order to address competency gaps and health and wellness concerns
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| d. Does the GOCC publish data on training and development programmes for its employees? |
In 2024, the TPB PHRDD continued to enrich its programs to ensure opportunities for career growth and to attain improvement in the competencies of its employees. Its Plans and Programs focused not only on the technical growth of personnel but also on the overall well-being as anchored in the approved TPB Mental Health Program dubbed as H.U.G.S. (Help, Understand and Give Support).
The TPB’s institutional activities including the Learning Over Lunch (LOL), team building activities, and year-end thanksgiving with elements of Corporate Social Responsibility (CSR) were also implemented. The Gender and Development (GAD) programs and activities were also carried out including Women’s Month and End-VAW. In terms of Knowledge management, employee relations and rewards and recognition activities, Townhall meetings, Employee Benefits Orientation, and PRAISE activities were also part of the annual plans and programs. |
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| 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 complains by employees concerning illegal (including corruption) and unethical behavior? |
TPB established its Whistleblowing Policy to enable any concerned individual to report and provide information, anonymously if he/she wishes, and even testify on matters involving the actions or omissions of the Directors, Officers and Employees of TPB that are illegal, unethical, violate good governance principles, are against public policy and morals, promote unsound and unhealthy business practices, are grossly disadvantageous to TPB and/or the Government The Tourism Board approved, through Board Resolution No. 422, Series of 2023, TPB’s Amended Whistleblowing Policy Guidelines, outlining the whistleblowing mechanisms, channels and procedures. This has been fully circulated in the workplace and made public with its posting on the TPB Website. In addition, TPB has an existing Grievance Machinery, as approved by the Civil Service Commission on 22 August 2016, which stipulates its procedures, and was fully circulated in the workplace. Please see the following under the Transparency Seal For TPB Policy under Part W For Grievances Machinery under Part S |
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| b. Does the GOCC have procedures to protect an employee/person who reals illegal/unethical behavior from retaliation? |
As indicated in the Whistleblowing Policy, under 8. PROTECTION OF A WHISTLEBLOWER AGAINST RETALIATION: Retaliatory acts against whistleblowers who submit whistleblowing reports in good faith shall not be tolerated by TPB which shall extend all possible assistance to the whistleblower under the law and given the circumstances. Such retaliatory acts may include: No. 8 of TPB’s Whistle Blowing Policy Guidelines expressly covers “Protection of a Whistleblower Against Retaliation”. Part VIII of the TPB Grievance Machinery outlines the procedure in seeking redress of grievances . Please see the following under the Transparency Seal For TPB Policy under Part W For Grievances Machinery under Part S |
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| II. Disclosure and Transparency | |||
| 7. Quality of Annual Report
Does the GOCC’s annual report disclose the following items: |
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| a. Corporate objectives |
To ensure that TPB will be able to achieve its Vision and conduct programs, projects, and activities according to its Mission, the agency has prepared a Strategy Map, as approved by the GCG on 19 March 2024, that will serve as a guide on the specific strategic objectives that it should embody. The Strategy Map focuses on the aspects of (1) Customer/Stakeholders, (2) Finance, (3) Internal Process, and (4) Learning & Growth. TPB’s strategic objectives are SMART as they are specific to the organization, timely in accordance with the Vision Statement, realistic in terms of the Mission Statement, and are measurable and achievable through the strategic measures included in the Performance Scorecard. The approved 2023 Performance Scorecard may be viewed on the TPB Website. |
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| b. Financial performance indicators | The TPB website contains updated quarterly financial statements and other pertinent reports. In addition, the financial strategic measures are also embodied in the 2024 Performance Evaluation Scorecard, as uploaded on the website.
The TPB website contains updated quarterly financial statements and other pertinent reports. In addition, the financial strategic measures are also embodied in the 2023 Performance Evaluation Scorecard, as uploaded in the website. |
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| c. Non-financial performance indicators |
The non-financial strategic measures are reported in the Budget Accountability Reports (BAR 1) – Quarterly Physical Report, as uploaded in the Transparency Seal page under Budget and Financial Accountability Reports |
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| d. Details of whistle-blowing policy |
The whistleblowing policy’s procedure is detailed in the citizen’s charter in the official TPB website. Further, the whistleblowing policy and guidelines are also available in the transparency seal The Tourism Board approved, through Board Resolution No. 422, Series of 2023, TPB’s Amended Whistleblowing Policy Guidelines, outlining the whistleblowing mechanisms, channels and procedures. This has been fully circulated in the workplace and made public with its posting on the TPB Website.
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| e. Biographical details (at least age, qualifications, date of first appointment, relevant experience, and any other directorships of listed companies) of directors / commissioners |
The biographical details of ex officio and appointive directors are posted on the TPB’s official website. The updated CVs of the Board of Directors are uploaded to the TPB Website. |
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| f. Training and / or continuing education programme attended by each director / commissioner |
For FY 2024, TPB Board of Directors Eduardo F. Pelaez, Vanessa L. Suatengco and COO Maria Margaret M. Nograles attended the Best Practices of Effective Boards held last September 3, 2024. COO Maria Margaret M. Nograles and Director Eduardo F. Pelaez participated in the Strategic Thinking for Board Directors and Leaders held on October 1, 2024. TPB Board of Director Vanessa L. Suatengco attended the Code of Conduct and Ethical Standards for Public Officials and Employees held on October 18, 2024. Previous trainings attended by the Appointive Directors may be viewed on TPB’s official website. TPB Directors Eduardo F. Pelaez (Dir. Pelaez) and Vanessa L. Suatengco (Dir. Suatengco) attended the Corporate Governance Orientation Program for GOCCs held on 18 April 2018 and 21 February 2018, respectively. For FY 2019, Directors Pelaez and Suatengco participated in the Strategy for Directors on 16 May and 11 July, respectively. Directors Pelaez and Suatengco participated in the Risk Management in the Age of COVID-19 Webinar on 14 May 2020, and the Pilipinas: Aspire, Rise, Sustain Webinar Series in 2021, both organized by Institute of Corporate Directors. COO Maria Anthonette C. Velasco-Allones likewise attended the same ICD Seminar in 2021. COO Maria Margarita M. Nograles was scheduled to attend ICD’s Corporate Governance Orientation Program for Government-Owned and Controlled Corporations scheduled in December 2022 but it was cancelled while Directors Pelaez and Suatengco were not able to participate in any trainings. COO Maria Anthonette C. Velasco-Allones likewise attended an ICD Seminar in 2021. COO Nograles was scheduled to attend ICD’s Corporate Governance Orientation Program for Government-Owned and Controlled Corporations scheduled in December 2022 but it was cancelled. 2022 ICD official receipts and Certificate For FY 2023, Dir. Pelaez and Dir. Suatengco attended the “Corporate Governance Orientation Program For Government-Owned and Controlled Corporations” on November 9 November until 10 November 2023 while COO Nograles attended the same seminar on September 7, 2023. |
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| 8. Are the Annual Reports downloadable from the GOCC’s website? | 1. The AFS is downloadable from the TPB Website.
2. TPB’s 2023 Annual Report (AR) is still undergoing internal review by the TPB Management prior to endorsement and transmittal to the Department of Tourism for the Chairperson’s approval. |
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| 9. Corporate Governance Confirmation Statement | |||
| 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? |
The TPB has complied with the government corporate standards provided under the Governance Commission for GOCCs (GCG) Memorandum Circular (MC) No. 2012-07 for the period beginning 1 July 2023 to 30 May 2024. CERTIFICATION – for the period beginning 1 July 2024 to 30 May 2025 CERTIFICATION – for the period beginning 1 July 2022 to 30 May 2023 CERTIFICATION –for the period beginning 1 July 2023 to 30 May 2024 |
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| 10. Timely filing / release of annual financial reports | |||
| a. Are the audited annual financial report / statement released within 60 days upon receipt from COA? |
Date of Receipt of AFS: 11 June 2024 AFS uploaded to TPB Website: 13 June 2024
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| b. Is the annual report released within 90 days from release of audited financial report? | 1. Date of Receipt of AFS: 11 June 2024 AFS uploaded to TPB Website: 13 June 20242. TPB’s 2023 Annual Report (AR) is still undergoing internal review by the TPB Management prior to endorsement and transmittal to the Department of Tourism for the Chairperson’s approval.Annual Audit Report for the Tourism Promotions Board for FY 2023 (May also be found under Part D. of the TPB Transparency Seal) |
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| 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? | The Statement of Management’s Responsibility for Financial Statements was signed by the Tourism Board Chairperson, the TPB Chief Operating Officer, and the Acting Head of the Finance Department.
Statement of Management’s Responsibility for Financial Statements (Page 13 of the Annual Audit Report) |
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| III. Board Responsibility | |||
| 11. | 11.a. Corporate Vision and Mission / Strategy
Has the Board of Directors reviewed the vision and mission / strategy in the last financial year? |
The TPB conducted a review of the Strategy Map in September 2021 and was deliberated and approved by the Board during its meeting on 11 November 2021 through Board Resolution No. 324, s. 2021. It was further reviewed and approved by the Board through BR No. 331, s. 2021. The Vision and Mission statements and strategy map was again revisited by the Board on 28 November 2022, upon consideration and approval of the TPB 2023 Performance Scorecard through Board Resolution No. 360, s. 2022.
The Tourism Board during its regular meeting on 21 September 2023, through BR No. 409, s. 2023, has delegated the approval of the TPB 2024 Strategy Map and the TPB CY 2024 Performance Scorecard, and was later approved through the Tourism Board Executive Committee Resolution dated 16 October 2023. The TPB’s 2025 Performance Evaluation Scorecard, as endorsed by the Governance and Risk Committee, was approved by the Tourism Board during its regular meeting on 23 September 2024 through BR No. 463, series of 2024.
Board Resolution No. 324, Series of 2021: Updated TPB Strategy Map and 2022 TPB Performance Scorecard;
Board Resolution No. 331, Series of 2021: “Revised TPB Strategy Map and 2022 Performance Scorecard” (Ad Referendum)Board Resolution No. 360, s. 2022, re: Approval of the 2023 TPB Performance Scorecard |
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| 11.b Does the Board of Directors monitor / oversee the implementation of the corporate strategy? |
The Board monitors the implementation of the Strategy Map and Performance Scorecard during Board meetings on a quarterly basis.
2024 Notices and Meeting Agenda 2022 Notices of Meeting and Agenda Notices of 2023 Meetings and Agenda
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| 12. Did the GOCC achieve 90% in the PES? | Yes. The TPB achieved a PES rating of 91.19% for CY 2023. However, the rating still being validated by the GCG; hence, it is not yet published.
FY 2023 PES Monitoring Report |
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| 13. Code of ethics or conduct | |||
| a. Are the details of the code of ethics or conduct disclosed? |
Yes. The TPB Board approved Code of Ethics is posted on the TPB’s official website.
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| b. Does the GOCC disclose that all Directors / Commissioners, senior management and employees are required to comply with the code? |
Yes. It is stated on the TPB Code of Ethics that it covers all TPB Board of Directors, officials, senior management, and employees.
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| c. Does the company disclose how it implements and monitors compliance with the code of ethics or conduct? |
TPB PHRDD conducts orientation to all newly appointed and promoted TPB employees where the eight (8) norms of conduct was comprehensively discussed for awareness.
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| 14. Does the Board appoint a Nomination and Compensation / Remuneration Committee?
Yes. The Remuneration and Nomination Committee Members are disclosed on the TPB Website.
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| 15. Did the Nomination and Compensation / Remuneration Committee meet at least twice during the year?
The Remuneration and Nomination Committee did not meet in 2017. However on 16 October 2018, the Committees were reconstituted. The Committee met on 3 December 2018. The Remuneration and Nomination Committee of the Tourism Board met on 06 August 2020 and 04 September 2020. In 2021, the Committee met on 22 March and 28 June. In 2022, the Committee has only convened once on 3 February 2022. In 2023, the Committee convened on 15 March 2023 & 16 October 2023. The Remuneration and Nomination Committee convened twice during the year being assessed, specifically, on 19 July 2024 & 12 December 2024. 2024 Consolidated Committee Reports |
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| 16. If yes, is the report of the Nomination and Compensation / Remuneration Committee publicly disclosed?
Not Applicable in 2017 as the Nomination and Remuneration Committee did not meet. The Remuneration and Nomination Committee Reports may be accessed through the TPB Website The highlights of the Remuneration and Nomination Committee Meetings are reflected on the TPB Consolidated Committee Reports. |
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| 17. Does the Board appoint an Audit Committee?
Yes. The Committee Members are disclosed in the TPB Website.
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| 18. If yes, is the report of the Audit Committee publicly disclosed?
The Audit Committee Reports are accessible on the TPB Website. 2025 Audit Committee Meeting Reports |
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| 19. Does at least one member of the Audit Committee have an audit, accounting or finance background (qualification or experience)?
Yes, Director Eduardo F. Pelaez has a finance background. |
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| 20. Did the Audit Committee meet at least four times during the year?
The Audit Committee convened on the following dates for the Calendar Year 2022: 07 April 2022, 01 July 2022, 16 December 2022, and 29 December 2022. In 2023, The Audit Committee convened on 13 March, 09 June, 20 October, and 11 December. In 2024, the Audit Committee convened four times on the following dates: The Committee also convened for a special meeting on 29 April 2024.
2024 Consolidated Committee Reports |
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| 21. Does the Board appoint a Risk Management Committee?
Yes. The Governance and Risk Committee Members are disclosed on the TPB Website.
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| 22. If yes, is the report on Risk Management Committee publicly disclosed?
Not applicable for years 2020,2021, and 2022 as the Risk Management Committee did not meet. The Tourism Board Risk Remedial and Management Committee Report, as convened on 03 August 2023, is uploaded on the TPB Website. The Tourism Board Governance Committee and Risk Remedial and Management Committee were consolidated by virtue of Board Resolution No. 423, Series of 2023 dated December 15, 2023. In 2024, the Governance and Risk Committee convened five (5) times on the following dates: The highlights of the aforesaid Governance and Risk Committee Meetings are reflected on the TPB Consolidated Committee Reports. 2024 Consolidated Committee Reports |
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| 23. Does at least one member of the Risk Management Committee have a background in finance and investments?
Yes, Director Eduardo F. Pelaez has a finance background. |
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| 24. Board meetings and attendance | |||
| a. Are the Board of Directors meetings scheduled at the beginning of the year? (end of Q1) |
The 2022 Meetings were scheduled on 24 February, 11 March, 31 March, 28 April, 14 June, 15 August, 04 October, 28 November, and 21 December. The 2023 Board Meeting schedules were agreed upon during the 21 December 2022 Regular Board of Directors’ Meeting. See page 16 (Other Matters) of the December 2022 Minutes of the Meeting. The 2024 Regular Board Meeting schedules were agreed upon during the 31 January 2024 Regular Board of Directors’ Meeting by virtue of Board Resolution No. 429, series of 2024 re: “Approval of the Calendar of 2024 Regular Board of Directors’ Meetings 2024 Notices and Meeting Agenda |
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| b. Does the Board of Directors meet at least monthly? |
Yes. Attendance of all Directors, as well as other TPB officers and personnel are listed and made part of every Minutes of the Regular (Monthly) Board of Directors’ Meeting. 2024 Summary of Board Meeting Attendance |
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| c. Did the Board of Directors meet on at least 75% on their scheduled meetings? |
Yes. The Board of Directors have met in all the eight (8) scheduled meetings in 2017. For 2018, the Board met on at least 75% of their scheduled meetings. Eleven meetings were held within 12 months. In 2019, the Board had eight (8) Board meetings. While in 2020, twelve (12) Board meetings were held. In 2021, there were 11 scheduled meetings which the Board members met. Last 2022, the Tourism Board met for nine (9) meetings. In 2023, the Tourism Board convened for twelve (12) regular meetings, and one (1) special meeting. In 2024, the Tourism Board convened for twelve (12) regular meetings, and two (2) special meetings. 2024 Summary of Board Meeting Attendance |
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| d. Has each of the directors / commissioners attended at least 90% of all the board meetings held during the year? | Yes. All members of the Board and appointive directors attended at least 90% of all 2022 BOD meetings as indicated in the attendance list of the Minutes of Regular Board of Directors Meeting.
90% of all 2023 BOD meetings were attended by the Tourism Board Directors as indicated in the Summarized Attendance List. No, the DFA Representatives to the Tourism Board were unable to attend 90% of all 2024 BOD meetings. 2024 Summary of Board Meeting Attendance |
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| e. Did the Board of Directors meet separately at least once during the year without the President / CEO present? |
The Board of Directors did not meet separately during 2017, 2018, 2019, 2020, 2021, and 2022 without the President / CEO. No meeting was held without the presence of the COO of the TPB. In 2023, the Board of Directors convened without the presence of the TPB Chief Operating Officer during the April 2023 Regular Board of Directors’ Meeting. In 2024, the Board of Directors convened without the presence of the TPB Chief Operating Officer during the 28 October 2024 Regular Board of Directors’ Meeting. She was on Official Travel, as reflected on the attached Official Business in the 2024 Summary of Attendance. 2024 Summary of Board Meeting Attendance |
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| 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? |
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? – As stated in Part V Reading and Approval of the Minutes (in lines 98 to 100) of the TPB 16th Board Meeting dated 1 September 2016. Presently, the Secretariat submits the meeting materials within 3-4 working days prior to the Board Meeting. As discussed during Part VII – Approval of the Calendar of the 2024 Regular Board of Directors’ Meeting (on page 12), it was recommended that the Board be transmitted the materials 4 working days prior to regular meetings. |
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| b. Is the Board Secretary trained in legal, accountancy or company secretarial practices? |
Yes. The previous Corporate Secretary is a lawyer and has been in a government lawyer since 2008, and was designated as Board Secretary in her previous agency in 2019. The incumbent Board Secretary V is a lawyer. The incumbent Corporate Board Secretary, as of November 2023, is also a lawyer and has been in the government service since 2019, and designated as Acting Corporate Secretary in 2022, in a concurrent capacity under the TPB Legal Department. Board Resolution No. 302 |
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| 26. Internal Audit | |||
| a. Does the company have a separate internal audit function? |
Yes. The TPB has a separate Internal Audit Office that directly and functionally reports to the TPB Governing Board through the Board Audit Committee. This is reflected in the Organizational Chart and Functional Description pursuant to the GCG Memorandum Order No. 2014-07 dated 07 April 2014. Additionally, the Board Audit Committee was reconstituted on 28 November 2022 and 20 December 2023 by virtue of Board Resolution No. 365 and 423, respectively There is a Board of Directors (BOD) Audit Committee. The Committee was reconstituted on October 16 2018 through Board Resolution No. 173. It was reorganized on 31 January 2020 and was made effective by Board Resolution No. 241 Series of 2020, and further reorganized on 28 November 2022 through Board Resolution No. 365. Further, there is an Internal Audit Office (IAO) that functionally reports to and is supervised by the BOD Audit Committee. TPB Transparency Seal https://www.tpb.gov.ph/about/board-of-directors/ |
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| b. Does the appointment and removal of the internal auditor require the approval of the Audit Committee? |
The appointment of the Head of the Internal Audit (HOIA) requires a recommendation from the Board Audit Committee as part of the hiring process. However, the removal of the HOIA does not require a recommendation from the audit committee as the separation of the government employee, regardless of its mode, is covered and governed by the CSC rules and regulations. Given that the TPB is a GOCC, the appointment and removal of all internal positions are in accordance with the 2017 Omnibus Rules on Appoinment and Other HR Actions (ORAOHRA), and CSC-approved TPB Merit Selection Plan. However, only the appointment of the Head of the Internal Audit Office requires interview, deliberation, and recommendation from the Board Audit Committee as required by the ISO Documented Procedure, particularly, the Recruitment, Selection, and Promotion for Permanent Personnel, and likewise the TPBs Manual of Signing Authority. |
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| 27. Risk Oversight | |||
| a. Does the company disclose the internal control procedures / risk management systems it has in place? |
As an ISO 9001:2015 certified organization, TPB conducts key internal control procedures as part of its risk management system, as follows: ISO 9001:2015 Trainings under the CPBD Department Internal Quality Audit (separate from those conducted by the Internal Audit Office) under the IQA system of TPB, involving personnel across the organization Management Review by TPB’s Management Committee Pre-Certification/Re-Certification Surveillance Audit by a third party Certification/Re-Certification Surveillance Audit by a third party Periodic review of Risk Registers and Risk Control Plans Practices outside of the above procedures are also discussed and consulted in Focus Group Discussions throughout the year.Performance monitoring is conducted by the PES Focal System of TPB, with monthly reports provided to the Management Committee (ManCom) and the Board of Directors (BoD) by the Corporate Planning and Business Development Department. Risk Related Process Activities
Memo – Submission of TPB Initial Risk Assessment / Risk and Opportunity Register
Schedule of the 2024 TPB ISO Activities ISO Memo No. 2024-17 ISO Internal Quality Audit ISO Memo No. 2024-19_Submission of Risk Register Re-assessments and Risk Control Plans Notice of Meeting – 1st Hybrid ISO Management Review for FY 2024 2024-20 ISO Pre-Surveillance Audit QMRC Audit Plan – Tourism Promotions Board TPB SWOT 2024 |
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| b. Does the Annual Report disclose that the Board of Directors / Commissioners has overseen a review of the company’s materials controls (including operational, financial and compliance controls ) and rick management systems? |
The TPB Board of Directors has overseen a review of the company’s material controls and risk management system through Management, Operations, and Compliance Audits conducted by the Internal Audit Office, with the findings documented in the Annual Report. |
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| c. Does the company disclose how key risks are managed? |
As an ISO 9001:2015 certified organization, TPB conducts key internal control procedures as part of its risk management system, as follows: ISO 9001:2015 Trainings under the CPBD Department Internal Quality Audit (separate from those conducted by the Internal Audit Office) under the IQA system of TPB, involving personnel across the organization Management Review by TPB’s Management Committee Pre-Certification/Re-Certification Surveillance Audit by a third party Certification/Re-Certification Surveillance Audit by a third party Periodic review of Risk Registers and Risk Control Plans Practices outside of the above procedures are also discussed and consulted in Focus Group Discussions throughout the year.Performance monitoring is conducted by the PES Focal System of TPB, with monthly reports provided to the Management Committee (ManCom) and the Board of Directors (BoD) by the Corporate Planning and Business Development Department. Risk Related Process Activities
Memo – Submission of TPB Initial Risk Assessment / Risk and Opportunity Register
Schedule of the 2024 TPB ISO Activities ISO Memo No. 2024-17 ISO Internal Quality Audit ISO Memo No. 2024-19_Submission of Risk Register Re-assessments and Risk Control Plans Notice of Meeting – 1st Hybrid ISO Management Review for FY 2024 2024-20 ISO Pre-Surveillance Audit QMRC Audit Plan – Tourism Promotions Board TPB SWOT 2024 |
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| 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 systems? | As part of the risk management framework, audit findings are regularly reported by the Internal Audit Office (IAO) to the Tourism Board or Audit Committee. The Board reviews the findings and actionable items, providing comments and identifying relevant actions. These audit reports are then uploaded to the TPB corporate website. Mention of this is included in the Annual Reports (2022 and 2023 and still in production; 2024 to be produced in 2025). | ||
| 28. Board Chairman Do different persons assume the roles of Chairman and CEO? Yes. As of December 2022, the Chairman/Chairperson of the Tourism Board is Secretary Ma. Esperanza Christina Garcia Frasco with Undersecretary Mae Elaine T. Bathan as the Alternate Chairperson and the Chief Operating Officer of the Tourism Promotions Board is Maria Margarita Montemayor Nograles serves as the Vice-Chairperson of the Board. Last February 2023, Undersecretary Shereen Gail C. Yu-Pamintuan was appointed the Alternate Chairperson of the Tourism Board, vice Usec Bathan. 2024: Yes. The Chairman/Chairperson of the Tourism Board is Secretary Ma. Esperanza Christina Garcia Frasco, with Undersecretary Shereen Gail C. Yu-Paminutan as the Alternate Chairperson. The Chief Operating Officer of the Tourism Promotions Board is Maria Margarita Montemayor Nograles, who also serves as the Vice-Chairperson of the Board. |
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| 29. Board of Directors Development | |||
| a. Does the GOCC have orientation programmes for new Directors? | As of 03 June 2024, the Tourism Board Orientation Program was approved through the issuance of Welcome Kits for New Directors appointed/assigned to the Tourism Board.
It contains relevant information, such as but not limited to laws, issuances, and the TPB directory, to assist the directors in the conduct of their duties and responsibilities as part of the governing board. |
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| E | b. Does the GOCC have a policy that encourages Directors / Commissioners to attend on-going or continuous professional education programmes? |
TPB allocated a budget for the participation of appointive directors to seminars and other continuous education programs. A budget of PhP10,000 per appointive director was allocated for training expense in 2022 and 2023, or a total of PhP30,000 for all incumbent appointive directors. |
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| c. Did the Appointive Directors attend at least 1 training for the calendar year? |
TPB Board of Directors Eduardo F. Pelaez and Vanessa L. Suatengco participated in the Risk Management in the Age of COVID-19 Webinar on 14 May 2020, and the Pilipinas: Aspire, Rise, Sustain Webinar Series in 2021, both organized by Institute of Corporate Directors. COO Maria Anthonette C. Velasco-Allones likewise attended an ICD Seminar in 2021. COO Nograles was scheduled to attend ICD’s Corporate Governance Orientation Program for Government-Owned and Controlled Corporations scheduled in December 2022 but it was cancelled. 2022 ICD official receipts and Certificate TPB Board of Directors Eduardo F. Pelaez and Vanessa L. Suatengco participated in the Corporate Governance Orientation Program for Government-Owned or -Controlled Corporations held last November 9-10, 2023. COO Nograles attended the Corporate Governance Orientation Program for Government-Owned and Controlled Corporations For FY 2024, TPB Board of Directors Eduardo F. Pelaez, Vanessa L. Suatengco and COO Maria Margaret M. Nograles attended the Best Practices of Effective Boards held last September 3, 2024. COO Maria Margarita M. Nograles and Director Eduardo F. Pelaez participated in the Strategic Thinking for Board Directors and Leaders held on October 1, 2024. TPB Board of Director Vanessa L. Suatengco attended the Code of Conduct and Ethical Standards for Public Officials and Employees held on October 18, 2024. Previous trainings attended by the Appointive Directors may be viewed in the link “Previous Trainings“. |
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| 30. Board Appraisal | |||
| a. Is an annual performance assessment conducted of the Board of Directors? | There is no internal Board appraisal within the TPB | ||
| b. Does the GOCC disclose the process followed in conducting the Board assessment? | There is no internal Board appraisal within the TPB | ||
| c. Does the GOCC disclose the criteria used in the Board assessment? | There is no internal Board appraisal within the TPB | ||
| 31. Committee Appraisal
Is an annual performance assessment conducted of the Board of Directors Committee? There is no internal Board appraisal within the TPB |
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| BONUS | |||
| 1. Does the GOCC practice Global Reporting Index (GRI) on its annual reports? | No. TPB does not apply the GRI Standards to its Annual Report | ||
| Disclosure and Transparency | |||
| 2. Quality of Annual Report
Are the audited annual financial reports / statement released within 30 days upon the receipt from COA? |
Yes. Date of Receipt of AFS: 11 June 2024 AFS uploaded to TPB Website: 13 June 2024 | ||
| 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? | None of the Appointive Directors sits in any other GOCC or Publicly-Listed Companies. Section 10 of the Revised TPB Code of Corporate Governance explicity prohibits the holding of multiple board seats, thus: SEC. 10. Multiple Board Seats. – The capacity of the appointive directors to serve shall not be compromised. As such, no appointive director may hold more than two (2) other Board seats in other GOCCs, its subsidiaries and/or affiliates | ||
| 2. Is there non-compliance with Good Governance Conditions? | None. The TPB has complied with the government corporate standards provided under the Governance Commission for GOCCs (GCG) Memorandum Circular (MC) No. 2012-07 for the period beginning 1 July 2023 to 30 May 2024.
CERTIFICATION – for the period beginning 1 July 2024 to 30 May 2025 CERTIFICATION – for the period beginning 1 July 2022 to 30 May 2023 CERTIFICATION –for the period beginning 1 July 2023 to 30 May 2024 |
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| GOVERNMENT CORPORATE STANDARDS | COMPLIED/ NOT COMPLIED | DATE ACCOMPLISHED OR SUBMITTED, IF APPLICABLE | REMARKS/ EXPLANATION FOR NON-COMPLIANCE |
|---|---|---|---|
| A. Creation of Board Committee | Complied | References: | |
| 20 Nov. 2012 | Board Resolution No. 12 (Creation of Corporate Governance Committee and Business Development Committee) |
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| 5 May 2016 | Board Resolution No. 100 (Creation of Audit, Risk Management, and Remuneration and Compensation Committee) |
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| 29 Apr 2021 | Board Resolution No. 301 (Constitution of a Marketing Committee of the Tourism Board) |
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| 28 Nov. 2022 | Board Resolution No. 365 (Reorganization of Board Committees) Reorganization of Tourism Board Committees |
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| 20 Dec 2023 |
Board Resolution No. 423 |
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| B. Recognition to its stakeholders | Complied | TPB revisited and affirmed its identified Stakeholder’s in 2023 during its Mid-year Strategic Planning for CY 2024.
To view the list, please visit the TPB website: |
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| C. Submission of updated manual of corporate governance to the governance commission | Complied | 11 June 2020 | Transmittal Letter dated 05 June 2020 |
| D. Maintenance of website | |||
| 1. Institutional matters | |||
| a) For Chartered GOCC’s the latest version of its Charter; | Complied | 29 Nov 2022 | Please visit the TPB website: https://www.tpb.gov.ph/faqs/ |
| b) For Nonchartered GOCCs, the latest information sheet (GIS) and brief company background including date of incorporation, history, function and mandate; | N/A | ||
| c) List of Subsidiaries and Affiliates; and | N/A | ||
| d) Government Corporate Information Sheet (GCIS) as mandated by GCG MC 2012 01 | Complied | 17 April 2023 | Please see the TPB website: GCG Acknowledgement Receipt and TPB transmittalhttps://www.tpb.gov.ph/corporate-governance-seal/ |
| 2. GOCC Board and Officers | |||
| a) Complete listings of the Directors and Officers | Complied | Posted on the TPB website | Please visit the TPB website: |
| b) Complete compensation package | Complied | ||
| c) Info on Board Committees and their activities | Complied | ||
| d) Attendance records | Complied | ||
| 3. Financial and Operational Matters | |||
| a) Latest annual Audited Financial and Performance Report within 30-days from receipt of such report; | Complied | June 20, 2023 | Please visit the TPB website:
https://www.tpb.gov.ph/wp- content/uploads/2023/06/Annual- FS-2022.pdf |
| b) Audited Financial Statements in the immediate past 3- years; | Complied | June 20, 2023 (for CY 2022) CYs 2020 and 2021 are posted in the website | https://www.tpb.gov.ph/transparency-seal/ |
| c) Quarterly, and Annual reports and Trial Balance; | Complied | Posted every 30th day after the end of the quarter | https://www.tpb.gov.ph/transpare ncy-seal/ |
| d) Current Corporate Operating Budget; | Complied | May 5, 2023 | https://www.tpb.gov.ph/wp- content/uploads/2020/03/FY- 2023-DBM-Approved-COB.pdf |
| e) Local and foreign borrowings; | N/A | N/A | |
| f) Government subsidies and net lending; | Complied | March 31, 2023 | Government subsidies and net lending |
| g) All borrowings guaranteed by the Government; | N/A | N/A | |
| h) Any material risk factors and measures taken to manage risk; and | N/A | N/A | Material Risk Factors And Measures |
| i) Performance Evaluation System | Complied | N/A | Please visit the TPB website: https://www.tpb.gov.ph/corporate-governance-seal/ |
| 4. Governance matters | Please visit the TPB website: | ||
| a) Charter Statement/ Mission-Vision Statements; | Complied | https://www.tpb.gov.ph/about/mission-and-vision/ | |
| b) Performance Scorecards and Strategy Maps; | Complied | Posted on the website | https://www.tpb.gov.ph/corporate-governance-seal/ |
| c) Organizational Chart; | Complied | https://www.tpb.gov.ph/about/organizational-chart/ | |
| d) Manual of Corporate Governance; | Complied | https://www.tpb.gov.ph/ wpcontent/uploads/2021/06/Revised-TPB-Code-of-Corporate-Governance-26May2020.pdf |
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| e) CSR Statement; and Balance Scorecard. | Complied | https://www.tpb.gov.ph/wpcontent/uploads/2020/04/TPBCORPORATE-SOCIALRESPONSIBILITY-STATEMENT-1-1.pdf | |
| E. Participants in the ICRS | Complied | 16 January 2023 | Received an email of acknowledgment from GCG on 16 January 2023 (Subject: ICRS-GLMS Notification: Accomplished GOCC Profile) |
| F. Submission of Mandatory Reports | |||
| a) Performance scorecards | Complied | 02 May 2023 | Submission of 2022 Full-Year Performance Scorecard Report: https://www.tpb.gov.ph/wp- content/uploads/2022/08/GCG_20 22-Performance-Scorecard.pdf |
| b) Implementation of the audit recommendation of COA | N/A | COA Annual Audit Report (AAR) for FY 2022 was received last June 8, 2023. For implementation this 2nd semester. https://www.tpb.gov.ph/wp- content/uploads/2023/06/Annual- FS-2022.pdf |
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| c) Compliance with commitments on servicing loans to, and guaranteed by National Government | N/A | N/A | |
| G. Submission of other reportorial requirements | |||
| a) Common Form financial statements based on annual audited financial statements within 30-days from receipt of the report | Complied | June 30, 2023 | 2022 Financial Report |
| b) Dividend computation and payments in accordance with RA 7566, also known as the “Dividend Law” | Complied | For Board approval – August regular board meeting | |
| c) Cash and investment balance | Complied | Submitted monthly, on or before 5th of the following month | Submission of Cash and Investment Report |
| d) For GFIs, actual and projected Statement of Cash surplus/ Deficit | N/A | N/A | |
| e) Capital expenditure program; | N/A | N/A | |
| f) Acquisition or disposition of assets; | N/A | N/A | Acquired and disposed assets as of 1 June 2022 to 30 May 2023 |
| g) Off Balance Sheet transactions; and | N/A | N/A | |
| h) Reports for the annual corporate budget call such as but not limited to the following: | Complied | N/A | Reports for the annual corporate budget call such as but not limited to the Physical and Financial Performance reports and Sources and Uses of Funds |
| i) Physical and Financial Performance reports (the immediately preceding 3 years); and | Complied | N/A | |
| ii) Sources and Uses of Funds (immediately preceding 3 years) and the proposal for the coming year | |||
| H. Other GCG Reports not enumerated herein | Complied | Posted on the TPB website | Please visit: https://www.tpb.gov.ph/transpare ncy-seal/https://www.tpb.gov.ph/corporate-governance-seal/ |
