(1) The treasurer of the county in which a conservation district is located is ex officio treasurer of the district. However, the board of supervisors by resolution may designate some other person having experience in financial or fiscal matters as treasurer of the conservation district. The board of supervisors shall require a bond, with a surety company authorized to do business in the state of Washington, in an amount and under the terms and conditions which the board of supervisors by resolution from time to time finds will protect the district against loss. The premium on this bond shall be paid by the district.

(2) All district funds shall be paid to the treasurer and disbursed only on warrants issued by an auditor appointed by the board of supervisors, upon orders or vouchers approved by it. The treasurer shall establish a conservation district fund into which shall be paid all district funds. The treasurer shall maintain any special funds created by the board of supervisors for the placement of all money as the board of supervisors may, by resolution, direct.

(3) If the treasurer of the district is the treasurer of the county all district funds shall be deposited with the county depositaries under the same restrictions, contracts, and security as provided for county depositaries. If the treasurer of the district is some other person, all funds shall be deposited in a bank or banks authorized to do business in this state as the board of supervisors, by resolution, designates.

(4) A district may provide and require a reasonable bond of any other person handling moneys or securities of the district, if the district pays the premium.

(5)(a) A district may disburse funds in payment of salaries, wages, and any other approved financial reimbursement to any employee or contractor of the district to any financial institution for either: (i) Credit to the employees' or contractors' accounts in such financial institution; or (ii) immediate transfer therefrom to the employees' or contractors' accounts in any other financial institutions.

(b) As used in this subsection (5), "financial institution" has the definition in RCW 41.04.240.