The township treasurer may receive as compensation for services up to one hundred dollars a day for each day necessarily devoted to the work of the treasurer’s office not exceeding four thousand dollars in a calendar year. The electors of the township shall establish the daily compensation rate for the township treasurer at each annual township meeting. Additional compensation over four thousand dollars may be provided for reimbursement of expenses as provided in section 44-08-04 and for mileage as provided in section 54-06-09 for each mile [1.61 kilometers] necessarily traveled in the performance of the treasurer’s duties. The township treasurer may not be allowed a percentage on the balance turned over to the treasurer’s successor in office.