(1) The executive director shall appoint a financial officer for the Administrative Services Division with the approval of the board.
(2) The financial officer shall be responsible for accounting for the authority, including:
(a) safekeeping and investment of public funds of the authority, including the funds expended from the restricted accounts created in this chapter;
(b) the proper collection, deposit, disbursement, and management of the public funds of the authority in accordance with Title 51, Chapter 7, State Money Management Act;
(c) having authority to sign all bills payable, notes, checks, drafts, warrants, or other negotiable instruments in the absence of the executive director and the executive director's designated employee;
(d) providing to the board and the executive director a statement of the condition of the finances of the authority, at least annually and at such other times as shall be requested by the board; and
(e) performing all other duties incident to the financial officer.
(3) The financial officer shall:
(a) obtain crime insurance in an amount established by the State Money Management Council; and
(b) file written reports with the State Money Management Council pursuant to Section 51-7-15.