There is established a “two-generation poverty reduction account” which shall be a separate, nonlapsing account within the General Fund. The account may receive transfers of lapsing funds from General Fund operations or poverty reduction accounts within the Department of Social Services. The account may also receive moneys from public and philanthropic sources or from the federal government for such purposes. All moneys deposited in the account shall be used by said department or persons acting under a contract with the department to fund services in support of two-generation poverty reduction programs.