(A) The superintendent of the Ohio veterans’ homes, with the approval of the director of veterans services, may establish a local fund for each veterans’ home to be used for the entertainment and welfare of the residents of the home. Each fund shall be designated as the residents’ benefit fund and shall be operated for the exclusive benefit of the residents of the associated home. Each fund shall receive all revenue from the sale of commissary items at the associated home and shall receive all moneys received as donations by the associated home from any source.

(B) The superintendent, subject to the approval of the director, shall establish rules for the operation of the residents’ benefit funds.