Section 704. Treasurer's Duties.--The township treasurer shall:
(1) Receive all moneys due the township and deposit them promptly in a designated depository in the name of the township.
(2) Keep distinct and accurate accounts of all sums received from taxes and other sources, which accounts shall be open to the inspection of the board of supervisors and any citizen of this Commonwealth.
(3) Pay out all moneys of the township only on direction by the board of supervisors.
(4) Annually state the accounts and make them available to the board of auditors for settlement.
(5) Preserve the account books, papers, documents and other records of the office and turn them over to the successor in office.