(a) The Commissioner of Finance and Management shall keep fair and accurate accounts of moneys received and disbursed so as to show the proceeds of the several branches of revenue and the expenses of each department of the government.

(b) The Treasurer shall keep an accurate account in books of account of all monies received by the State from whatever source and of all moneys withdrawn from the Treasury of the State upon warrants issued by the Commissioner of Finance and Management.

(c) In recording revenues of the General Fund as set forth in section 435 of this title, and revenues of the Transportation Fund as set forth in 19 V.S.A. § 11, the Commissioner of Finance and Management shall as of June 30 each year maintain accounting records in accordance with Generally Accepted Accounting Principles that ensure consistency with each preceding fiscal year. (Amended 1959, No. 328 (Adj. Sess.), § 18; 1979, No. 74, § 328, eff. May 8, 1979; 1981, No. 87, § 4; 1983, No. 195 (Adj. Sess.), § 5; 1987, No. 243 (Adj. Sess.), §§ 59, 60, eff. June 13, 1988; 2015, No. 97 (Adj. Sess.), § 65.)