(a) A supervisory union board shall elect a supervisory union treasurer at least annually, fix the salary and expenses, and determine the amount of a bond for him or her.

(b) Nothing shall preclude a supervisory union treasurer from also being a treasurer or deputy treasurer for any school district within the supervisory union if so voted by the electors for the school treasurer. Before beginning duty, a deputy treasurer shall give a bond with corporate surety conditioned for the faithful performance of duties in the same amount and for the benefit of the same obligee as the bond required of the school treasurer.

(c) It shall be the duty of the supervisory union treasurer to sign all checks and drafts, and invest in a prudent manner all funds in the supervisory union treasury as directed by the supervisory union board. Upon request by the supervisory union board, the supervisory union treasurer shall prepare a balance sheet. The supervisory union treasurer shall reconcile monthly accounts with the supervisory union bookkeeper. (Added 1966, No. 59 (Sp. Sess.), § 1(b); amended 1967, No. 155, § 1, eff. April 15, 1967; 1987, No. 228 (Adj. Sess.), § 10; 2003, No. 107 (Adj. Sess.), § 3.)