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The Treasurer shall: <br />(a) Receive and receipt for all money of the Authority <br />and place it in the treasury of the host city to the credit of <br />the Authority. <br />(b) Be responsible upon his official bond for the <br />safekeeping and disbursement of all Authority money so held <br />by him. <br />(c) Pay sums due from the Authority from Authority money <br />as approved by the governing body. <br />(d) Verify and report in writing on the first day of <br />July, October, January and April of each year to the Authority <br />and to each party hereto the amount of money he holds for the <br />Authority, the amount of receipts since his last report, and <br />the amount paid out since his last report. <br />(e) Make an annual audit of the accounts and records of <br />the Authority (except that audits may be made on the basis of <br />a two -year period if unanimously approved by the governing <br />board). The minimum requirements of the audit shall be those <br />prescribed by the State Controller for special districts under <br />Section 26909 of the Government Code and shall conform to <br />generally accepted auditing standards. <br />Upon the conclusion of each even - numbered calendar year, <br />the Treasurer of the past calendar year shall transfer all <br />Authority money and all documents in his custody pertaining to <br />3 <br />