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. 1. The payment of disability or service pensions to members of the association;

2. 2. Pensions to widows and children or orphans of members or retired members;

3. 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. 4. Funeral payments;

5. 5. Cost of the state audit;

6. 6. Essential postage, office supplies, and equipment;

7. 7. Actuarial study;

8. 8. Return of contributions to those qualified under section 18-11-20;

9. 9. Investment contract fees;

10. 10. Legal and accounting fees;

11. 11. The indemnification of members of the board of trustees pursuant to section 18-11-18; and

12. 12. Any other expenditures related to the general principles for which this chapter is established.