1314                           LAWS OF MARYLAND                      [CH. 602

lected by him; and the Treasurer shall deliver and pay over to all
incorporated municipalities within the County and to all govern-
mental agencies or Commissions, according to law, all moneys that
may have been collected by or come into the possession of the Trea-
surer and belonging to such municipalities, agencies or Commissions,
semi-annually or more often as may be required by law or deemed
advisable by the Treasurer. The Treasurer shall keep a full and
accurate account of all matters relating to the duties of his office,
including taxes and assessments received, money collected and paid
out, and vouchers taken therefor; and give to the County Commis-
sioners a true statement thereof. The Treasurer shall give to the
County Commissioners, or the Accounting Officer for said Commis-
sioners, semi-monthly or more often as may be deemed advisable by
the Treasurer, a report showing the receipts of all County taxes, and
other funds payable to the County, collected by the Treasurer, and
the deposit of such funds, and, in addition, all expenditures or dis-
bursements thereof, on check prepared by the Accounting Officer for
signature of the Treasurer or otherwise, and any investment thereof,
if such be the case; such report to be prepared on forms for mainte-
nance of a central system of accounts in the Accounting Office of the
County, to reflect properly the fiscal status of the County. The
Treasurer shall select the banking institutions or depositories for the
deposit of County funds, subject to approval of the County Com-
missioners as to acceptable depositories, without relieving the Trea-
surer of liability for security of such deposits according to law. The
Treasurer shall disburse County funds, upon the written directive or
order of the County Commissioners for County purposes, under such
procedure as may be prescribed by the County Commissioners, ac-
cording to law, and, for such purposes, the Treasurer shall sign
checks prepared by the Accounting Officer for the County drawn on
depositories of the Treasurer for the signature of the Treasurer for
payment of all authorized expenditures, when submitted with appro-
priate approved voucher or directive for payment thereof to be re-
tained by the Treasurer. The Treasurer shall coordinate the opera-
tions of his office with the functions of the County Accounting
Department. The Treasurer shall invest in short-term United States
Government Securities, or deposit in income producing bank accounts,
or a building association deposit such County funds as are not re-
quired to be used within [ninety] thirty days for disbursement or
expenditure for County purposes, subject to approval of the County
Commissioners as to the amount so available for such investment or
deposit and the acceptable securities or depositories, without relieving
the Treasurer of liability for the security of such investment or de-
posit according to law and such deposits shall only be made when
the bank or building association has set aside a like amount of bonds
in escrow, as prescribed by law, covering bank deposits or building
association deposits, or such deposit is secured by government insur-
ance. Interest earned on investment in any one fiscal year must be
used the following fiscal year for general County expenses.

Sec. 2. And be it further enacted, That this Act shall take effect
June 1, 1963.

Approved April 30, 1963.