WEST Devon Borough Council is the top local authority in Devon and Cornwall for the way it manages its finances and gives value for money with almost half its services among the best 25% in the country.

League tables issued by local government watchdog, the Audit Commission, last week showed that West Devon had come out top in the two counties in a tough assessment of how well it uses its resources.

It is the fourth year running that the council has come out as the best performing authority in Devon and Cornwall, including unitary and county councils too.

The results have been published at the same time that the council has received its annual audit and inspection results.

Against the backdrop of the recession and a housing slump, the Commission says the council has made 'good progress with its plans to strengthen the local economy' and is 'taking effective action to address the housing needs of local residents'.

The Commission has this year again awarded the council a rating of three out of four, confirming that it is a well performing authority. In the financial reporting category it maintained an excellent score – the highest possible.

This means the council is one of the best in the country for its accounts and how responsible it is in spending public money.

Inspectors assessed the council in five areas – financial reporting, financial management, financial standing, internal control and value for money.

One of the council's key priorities is strengthening the local economy of the borough and the Audit Commission highlighted the action of the council to help its businesses through the economic downturn, including setting a target to pay invoices within ten days.

The Commission also points to the area of employment land on the edge of Okehampton which has been recently developed to allow local businesses to grow. The council has built a new centre on the site with 16 offices and workshops aimed at new business ventures. Its eco-friendly design has already won several awards.

A similar business centre in Tavistock – opened in 2007 – is already well used with 80% of the units now let.

Other initiatives praised by the Commission included helping vulnerable residents to live in decent homes with disabled facilities and energy efficiency grants, introducing a sanctuary scheme to support victims of domestic violence, the successful Tavistock Walk and Talk scheme and free radon tests to 5,500 households.

However, the council takes on board the Commission's advice that further work needs to be undertaken to ensure the authority builds on its current success with meeting the diverse needs of all sections of the community, including the vulnerable and disadvantaged.

Cllr Margaret Garton, deputy leader of the council, said: 'To achieve this when we have the smallest staff of any district council in the country serving one of the largest areas is truly the icing on the cake.

'The council is run to the highest standards of financial efficiency and probity. Every penny is looked after and put to good use, providing quality services to residents.'