The administrator of each home shall deposit with the state treasurer funds paid by veterans for their maintenance, funds received from the United States treasury and other funds given or granted to the home, including state funds. Such funds may be invested in the local government investment pool pursuant to title 9, chapter 4, part 7. The board is authorized to accept funds from any source whatever, including the federal government or any department or board thereof. All such funds received by the board for such state veterans' homes, including funds from the United States government or any federal board or program for the support of persons housed on the grounds of state veterans' homes, shall be used by the board to pay maintenance, operational and administrative expenses, and to further the objectives and purposes of the state veterans' homes. The board may establish such bank accounts pursuant to §9-4-302 as are necessary for the efficient management of the homes.