Water resources cost fund

(a) There is hereby created in the state treasury the water resources cost fund. The chief engineer shall remit to the state treasurer in accordance with the provisions of K.S.A. 75-4215, and amendments thereto, all moneys received by the division to reimburse costs as required by K.S.A. 82a-771, and amendments thereto. Upon receipt, the state treasurer shall deposit the entire amount in the state treasury and credit it to the water resources cost fund. (b) Moneys in the water resources cost fund shall be expended only for the division's costs of providing assistance and services as provided by this act. (c) On or before the 10th of each month, the director of accounts and reports shall transfer from the state general fund to the water resources cost fund interest earnings based on: (1) The average daily balance of moneys in the water resources cost fund for the preceding month; and (2) the net earnings rate for the pooled money investment portfolio for the preceding month. (d) All expenditures from the water resources cost fund shall be made in accordance with appropriation acts upon warrants of the director of accounts and reports issued pursuant to vouchers approved by the chief engineer for the purposes set forth in this section.