24 Pa. Stat. § 2540
The board of trustees shall annually elect a treasurer who shall receive and disburse the funds of the institution, and perform such other duties as shall be required of him, and from whom they shall take such security for the faithful performance of his duty as necessity shall require; and it shall be the duty of the said board of trustees, annually, on or before the first of December, to make out a full and detailed account of the operations of the institution for the preceding year, and an account of all its receipts and disbursements, and report the same to the Pennsylvania state agricultural society, who shall embody said report in the annual report which by existing laws the said society is bound to make and transmit to the legislature, on or before the first Monday of January, of each and every year.
24 P.S. § 2540