Section 470. Appointment, Qualifications, Powers, and Duties. —

1. The treasurer shall be appointed by the Secretary of Finance from a list of at least three (3) ranking eligible recommendees of the governor or mayor, as the case may be, subject to civil service law, rules and regulations.

2. The treasurer shall be under the administrative supervision of the governor or mayor, as the case may be, to whom he shall report regularly on the tax collection efforts in the local government unit;

3. No person shall be appointed treasurer unless he is a citizen of the Philippines, a resident of the local government unit concerned, of good moral character, a holder of a college degree preferably in commerce, public administration or law from a recognized college or university, and a first grade civil service eligible or its equivalent. He must have acquired experience in treasury or accounting service for at least five (5) years in the case of the provincial or city treasurer, and three (3) years in the case of municipal treasurer.

   The appointment of a treasurer shall be mandatory for provincial, city and municipal governments;

4. The treasurer shall take charge of the treasury office, perform the duties provided for under Book II of this Code, and shall:

   1. Advise the governor or mayor, as the case may be, the sanggunian, and other local government and national officials concerned regarding disposition of local government funds, and on such other matters relative to public finance;

   2. Take custody and exercise proper management of the funds of the local government unit concerned;

   3. Take charge of the disbursement of all local government funds and such other funds the custody of which may be entrusted to him by law or other competent authority;

   4. Inspect private commercial and industrial establishments within the jurisdiction of the local government unit concerned in relation to the implementation of tax ordinances, pursuant to the provisions under Book II of this Code;

   5. Maintain and update the tax information system of the local government unit;

   6. In the case of the provincial treasurer, exercise technical supervision over all treasury offices of component cities and municipalities; and

5. Exercise such other powers and perform such other duties and functions as may be prescribed by law or ordinance.