It shall be the duty of the treasurer to keep an accurate record of the perpetual care trust fund account, including investments, to see that the principal portion thereof is properly invested in accordance with resolutions of the governing body and the laws of the state, and to advise the mayor when funds are available for investment in the amount of one thousand dollars or more. The mayor shall advise the governing body of the availability of such funds. (Code 1975 § 8-272)