When claim against moneys in State Treasury may be paid. A claim for payment from any moneys in the State Treasury may not be paid unless

(1) The claim is supported by the approval of the state agency that incurred the obligation or made the expenditure on which the claim is based;

(2) Provision for payment of the claim is made by law and appropriation;

(3) The obligation or expenditure on which the claim is based is authorized as provided by law; and

(4) The claim otherwise satisfies requirements as provided by law. [1967 c.454 §9]