The verdict of the independent Audit Commission is a tribute to the work of the councillors, council officers and all their staff.
Of course there will always be room for improvement � but in an age when people in public life only seem to receive criticism � it is nice to see praise being given where it is due.
As council leader, Roy Slack, commented, we have plenty to feel grateful for in Exeter. Along with South Hams we have the only top rated local authority in Devon, we also have a maximum rated local health service and hospital and a good university.
But now is not a time to wallow in self-congratulation or sit on our laurels.
Just as there a many areas where Exeter does better than most other places, there are also some where we do worse.
Traffic congestion and public transport is an obvious one. The shortage of supply of affordable homes is another.
Our high schools, although steadily improving, still perform below the Devon average.
We are also about to embark on some major short term disruption as Princesshay is redeveloped and our high school system revamped.
At the end of it we will hopefully have better schools and shops.
The secret of Exeter�s success has been based on that modern buzzword �partnership�. Local authorities, businesses, voluntary organisations and government working to achieve more together than they can separately.
It was encouraging to see the business community getting involved in Exeter�s bus debate. Unreliable public transport is bad for business and the city�s image.
As long as we don�t forget the importance of partnership and carry on working together on those areas where we need to improve there is no reason why they shouldn�t become �excellent� too.
