Westminster closes accounts in record time

27 May 15

Westminster City Council has set a new record for approval of local authority accounts after they were signed-off on May 18 – one day quicker than traditional frontrunners Oldham.

The authority has been confirmed as the quickest local government body to close its accounts for 70 years following approval of its audited 2014/15 report.

This is four months quicker than the council managed last year, and follows Steven Mair’s arrival at the authority as city treasurer.

A member of Public Finance’s Top 50, Mair’s time at Oldham saw the authority set records for the speed of its financial reporting.

Westminster’s effort for 2014/15 beat Oldham’s own formal sign-off by just one day.

In a statement, Westminster said that being at the forefront of accounting best practice underscored the authority’s drive for efficiency and quality services.

‘At a time when the council is required to make significant financial savings, improving and streamlining processes is a priority,’ it stated.

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