Oldham MBC has raced to file its annual accounts for 2012/13 in a record-breaking 61 days – making it the fastest public sector body to close its books on the last financial year.

The achievement, which puts Oldham on a par with FTSE 100 companies, marks a massive turnaround for the authority's finance and audit team, which only five years ago was in the lowest quartile in local government for submitting its annual accounts.