When it comes to dollars and “sense” it appears Marion financial officials are making all the right decisions.

The financial assessment agency Standard & Poor’s has upgraded the town’s long-term rating to “AAA” – the highest rank possible.

This is the third time the town’s rating has jumped a notch since 2008. Selectmen, Town Administrator Paul Dawson and Finance Committee Chair Alan Minard expressed pride at the distinction.

All said that taxpayers should take notice, too.

“Certainly, this triple ‘A’ rating will save the town hundreds of thousands of dollars,” Minard said at the Selectmen’s meeting on Tuesday.

The designation lowers the interest rate assessed for new and renegotiated loans the town applies for. With a number of capital projects on the horizon – notably Town Hall renovations –  Dawson said the upgrade is welcome news.

Committee Chair Jody Dickerson agreed.

“This will definitely be a huge savings for the town in the years to come,” Dickerson said.

Standard & Poor’s provides independent credit risk research to governments and corporations across the globe. The agency cited budget flexibility and a large pool of reserve funds compared to the town’s spending habits for the new rating. According to Standard & Poor’s, Marion’s ability to meet financial commitment’s is considered “strong.”

Previously, the town was rated “AA,” which is the agency’s second highest rank. The difference means the town is now considered to have an “extremely” strong capacity to meet financial obligations.

The new rating means that Marion has now joined a select group of fiscally savvy municipalities.

Of the state’s 351 cities and towns only 30 to have earned a “AAA” rating, including Mattapoisett.

Standard & Poor’s granted Mattapoisett the  rating in October.

Dawson and Selectmen credited department heads, the finance committee and Finance Director Judy Mooney for guiding budgets through trying economic times.

“We’ve weathered the storm through the years,” Dawson said. “Time’s are still challenging, but we’ve been able to keep things moving forward.”

To do that, Dawson recommended that smart fiscal policies be identified, recognized and practiced in the long term.

While the “AAA” rating is a milestone, Minard said making sound fiscal choices is an ongoing process.

“We need to keep improving efficiency and accuracy and make sure we get good value for our money,” Minard said. “We should not take our eye off that.”