The amounts paid into the relief association by the state, city, and employee's salary contribution and set aside in the association state fund must be appropriated and disbursed only for:
1. The payment of disability or service pensions to members of the association;
2. Pensions to widows and children or orphans of members or retired members;
3. The payment of the fees of the president and secretary-treasurer and the premiums on the bond of the secretary-treasurer or any other officer;
4. Funeral payments;
5. Cost of the state audit;
6. Essential postage, office supplies, and equipment;
7. Actuarial study;
8. Return of contributions to those qualified under section 18-11-20;
9. Investment contract fees;
10. Legal and accounting fees;
11. The indemnification of members of the board of trustees pursuant to section 18-11-18; and 12. Any other expenditures related to the general principles for which this chapter is established.