The director of the division of accounting at such times as may be prescribed by federal law or regulation shall certify to the state treasurer the amount of the state’s share of the contributions required to be paid to the federal agency on account of the officers and employees of each department, division, or agency of the state. Thereupon the state treasurer shall immediately transfer such amounts from the proper funds from which the officers and employees were paid to the “Contribution Fund” which is hereby created.