There is created in the state treasury a state disaster relief fund. Moneys in the fund are to be used subject to legislative appropriations for providing the required state share of funding for expenses and administration associated with federal emergency management agency disaster response, recovery, and mitigation grants and for the purposes of reimbursing costs under section 37-17.1-28. Any interest or other fund earnings must be deposited in the fund. Before any expenditure is made from the fund, the agency authorized to make the expenditure shall provide information on the purpose and payee of the expenditure to the appropriation committees of the house of representatives and senate or to the budget section if the legislative assembly is not in session.