In the absence of the President, the Treasurer shall preside at meetings of the Board of Directors and serve as the secondary liaison with the CYSA. The Treasurer shall collect all monies and receive and hold all securities of the League and shall deposit and disburse the same as directed by the Board. The Treasurer may only make disbursements on the funds which have been first been deposited in accounts of the League. The Treasurer shall keep accounts of the League, which shall be open for inspection as directed by these by-laws or the Board. The Treasurer shall submit full monthly written statements of accounts to the Board (made available at each Board meeting). The Treasurer shall submit a summary financial report at the Annual General Meeting.