With one match to go the club still have a chance of finishing 14th and Moxey believes McCarthy has worked wonders with what is believed to be the second-lowest transfer budget in the top flight behind relegated Burnley.
"Over a period of three or four years whoever spends the most normally finishes at the top. Whoever spends the least normally finishes at the bottom," said Moxey.
"We've bucked the trend and that's down to Mick, the players and everybody working together towards a clearly defined target.
"I can't speak more highly about the job Mick, Terry Connor and all the backroom staff have done. I think it's remarkable."
Moxey added in the Express and Star: "We've been very prudent in running our business.
"The achievement is not because we've spent more than others on players' transfer fees and wages - on the contrary.
"We've done it very sensibly."