The funds of the Council must be applied towards —
(a) the payment of salaries, fees, allowances, gratuities, pensions, or similar benefits to persons employed or formerly employed by the Council;
(b) the payment of remuneration, fees and allowances of members of the Council and members of committees established by the Council;
(c) the capital and operating expenses, including maintenance and insurance of the property of the Council; and
(d) meeting the obligations and the performance of any of the functions of the Council and other incidental matters.