It can be difficult to trust elected officials with our tax dollars, given how often we learn of instances of fraud, waste, abuse or poor decisions regarding our money. But Ohio residents have gotten some third-party confirmation that there is reason for confidence.

Standard & Poor’s has upgraded its global ratings for Ohio’s Major New State Infrastructure Project Revenue Bonds to AA+. This comes after the ratings agency last year upgraded Ohio’s issuer default and general obligation bond ratings to AAA.

These are important indications that at least some aspects of financial management are being handled well in Columbus.

“This key credit rating upgrade is a testament to strong fiscal management by our office, as well as our ongoing partnership with the Ohio Department of Transportation,” said Ohio Treasurer Robert Sprague. “The AA+ rating from Standard & Poor’s will lower the costs of financing for ODOT and help them use federal Title 23 money more efficiently when funding construction projects around the state.”

That’s important for Ohioans, and it happened because, according to S&P, there is an “expectation that pro forma maximum annual debt service coverage will remain very strong.” The agency also pointed out “Ohio’s demonstrated history of maintaining an adequate level of lawfully available funds.”

Plenty to keep our eye on, then, but at least a few ways in which state officials and policymakers are doing quite well by Ohioans when it comes to sound money management. How wonderful it would be if such standards proved contagious.