The city treasurer shall receive and safely keep all money which comes into his or her hands as treasurer, for all of which he or she shall execute triplicate receipts, one to be filed with the city clerk. He or she shall receive all money due the city and disburse it on warrants issued by the clerk countersigned by the mayor, and not otherwise. He or she shall make monthly settlements with the city clerk at which time he or she shall deliver to the clerk the duplicate receipts for all money received and all canceled warrants as evidence of money paid.