The treasurer of each city and village shall be the custodian of all money belonging to the corporation. He shall keep a separate account of each fund or appropriation and the debts and credits belonging thereto. He shall give every person paying money into the treasury a receipt therefor, specifying the date of payment and on what account paid. He shall also file copies of such receipts with his monthly reports; he shall, at the end of every month, and as often as may be required, render an account to the city council or board of trustees, under oath, showing the state of the treasury at the date of such account and the balance of money in the treasury. He shall also accompany such accounts with a statement of all receipts and disbursements, together with all warrants redeemed and paid by him, which warrants, with any and all vouchers held by him, shall be filed with his account in the clerk's office. If the treasurer neglects or fails, for the space of ten days from the end of each month, to render his account, his office shall be declared vacant, and the city council or board of trustees shall fill the vacancy by appointment until the next election for city or village officers.