[§304A-2267]  Center for labor education and research revolving fund.  There is established the center for labor education and research revolving fund, for use by the director of the center for labor education and research with the approval of the chancellor or vice chancellor of the University of Hawaii, West Oahu campus, in carrying out the purposes of the center.  All fees, charges, and other moneys collected in conjunction with the operations of the center for labor education and research shall be deposited in the revolving fund.  Such amounts shall be expended from the fund by the director of the center for labor education and research as may be necessary to defray the cost of operating the center for labor education and research, excluding compensation of the permanent staff, but including contractual obligation, rentals, and such other program costs as approved by the chancellor or vice chancellor, West Oahu campus.