Sec. 3. The treasurer of Indiana University shall do the following:
(1) Keep true accounts of all money received into the treasury of Indiana University, and of the money's expenditure.
(2) Pay out Indiana University's funds on the order of the board of trustees, certified by the board of trustee's secretary.
(3) Collect the tuition fees due Indiana University.
(4) Make semiannual settlements with the board of trustees.
(5) Submit a full statement of the finances of Indiana University and the treasurer's receipts and payments at each meeting of the board of trustees.
(6) Submit the treasurer's books and papers to the inspection of the board of trustees and visitors.