Sec. 20. The board may accept, use, and expend funds or other resources from sources other than the state if:
(1) the resources are awarded for the pursuit of a specific objective that the board is authorized to accomplish under this article or that the board is qualified to accomplish by reason of the board's jurisdiction or professional expertise;
(2) the resources are expended for the pursuit of the objective for which the resources are awarded;
(3) activities connected with or occasioned by the expenditure of the resources do not interfere with or impair the performance of the board's duties and responsibilities and do not conflict with the exercise of the board's powers and duties under this article;
(4) monetary resources are kept in separate accounts in the state treasury; and
(5) reports of the board's receipt and use of the resources are prepared periodically.