Finances: S&P rating is reason to be proud
(Editorial - Graphic Illustration - MetroCreativeConnection)
Much as we give the folks in Charleston a hard time about managing the people’s money, it must be said that those in some departments do an excellent job of it. Last week, State Treasurer Larry Pack’s office announced that for two decades now, S&P Global Ratings has given the state’s Money Market and Government Money Market polls its highest rating — AAAm. For 20 years in a row, S&P has believed the Mountain State demonstrates “extremely strong capacity to maintain principal stability and to limit exposure to principal losses due to credit risk.” “We say it all the time, but West Virginia is truly in the best financial shape we have ever seen it. Our obligations are funded, record surpluses funnel in every month, and the state’s investments continue to see exceptional returns,” Pack said. “We’re proud our state’s Board of Treasury Investments has received this award multiple years in a row, reflecting the commitment to deliver a thorough and understandable financial document to our West Virginia citizens.” Our Board of Treasury Investments takes care of approximately $10 billion in short-term investments on behalf of not only state agencies, but local governments as well. And they have earned not just high marks from S&P, but the Government Finance Officers Association’s Certificate of Achievement for Excellence in Financial Reporting, for the annual comprehensive financial report as of June 30, 2025. There are plenty of reasons to wonder whether public officials are really working FOR us these days. At least when it comes to managing our money, one group is doing so — and doing an exceptional job. Well done.