AN independent audit has found that Bradford Council is using taxpayers' money efficiently and effectively.

Each year, the local authority's books are examined by an outside firm to ensure it is using its funds in a proper manner.

In his report on his findings, auditor Mark Kirkham, of international firm Mazars LLP, painted a positive picture.

He said they had been satisfied that the council had "put in place proper arrangements to secure economy, efficiency and effectiveness in its use of resources for the year ended March 31, 2014".

Councillor Lynne Smith, chairman of Bradford Council's governance and audit committee, welcomed the report and added that residents in the district could take reassurance from its findings.

She said: "We operate in a very challenging environment, as I'm sure I don't need to tell you, so to get a clean bill of health in that way means I feel really reassured and I hope the citizens of Bradford can take assurances from that too."

Meanwhile, a separate report into the Council's accounts shows that the total value of its properties had shrunk.

This was mainly down to the authority effectively having to give away school buildings when schools decided to convert to academies, which are run outside of its control.

A dozen schools across the district have taken that step in the last financial year.

In his annual accounts report, director of finance Stuart McKinnon-Evans said: "In 2013-14, 12 schools converted to academies: Merlin Top, Windhill, Harden, Beckfoot, Hazelbeck, Bradford Moor, the Sacred Heart, Iqra, Challenge College, Grange, Southfield and Shirley Manor. In addition, Lidget Green Primary school converted to a trust."

He said because of this, the value of the Council's assets had fallen by £104 million.

Cllr Smith said that while the council was losing these assets, the liabilities associated with the schools often remained with them.

She said: "I know it sounds potty, but that's what happens.

"It's particularly an issue with the Building Schools for the Future schools. They have only been recently built and cost a lot of money, then the assets go elsewhere and we are left with the liabilities."

The report also revealed that the council's pension deficit stands at £613 million.

But Mr McKinnon-Evans said a long-term plan was in place to get to a 'break-even' position within 22 years.