All pensions paid and all moneys drawn from the pension fund under the provisions of this chapter shall be upon warrants signed by the board of trustees. Such warrants shall designate the person to whom and the purpose for which payment is made. The treasurer's annual report shall show the receipts and expenditures of the fund for the preceding fiscal year, the money on hand, and how the same is invested.
N.D.C.C. § 40-45-22