(1) The board members shall receive a compensation of fifty dollars ($50) per day for their services, and per diem and traveling expenses to the extent authorized by board policy.
(2) The board shall employ and, at its pleasure, discharge a secretary and such attorneys, inspectors, clerks, and any other employees as shall be deemed necessary, and shall outline their duties and fix their compensation. The amount of per diem and mileage paid to employees shall be provided by board policy.
(3) All money received by the board shall be deposited in the State Treasury into a separate trust fund for the board. The board shall be financed solely and individually from income accruing to it from fees, mandatory certificates, and other charges collected by the board.