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Byline: Josh Flory
Jun. 13--The executive committee of the UM Board of Curators yesterday approved a $50 million fund transfer to protect the bond rating of University of Missouri Health Care.
University officials said the transfer is a minor accounting procedure done at the request of the agencies that rate bonds issued by the university.
The money was transferred into an account for MU Health in order to build up the cash reserves of that account. Officials said the money will not be spent because the health system already had more than 50 days worth of cash on hand, but the rating agencies wanted more.
"The money stays in the bank …