Under the supervision of the executive chief information technology officer, the office of information technology services shall provide data processing and application hosting services for other divisions, departments and agencies of the state, and shall make charges for such services in accordance with the cost system established under Kan. Stat. Ann. § 75-4703, and amendments thereto. The furnishing of data processing services and application hosting by the office of information technology services shall be a transaction to be settled in accordance with the provisions of Kan. Stat. Ann. § 75-5516, and amendments thereto. All receipts for sales of services shall be deposited in the information technology fund created under Kan. Stat. Ann. § 75-4715, and amendments thereto. The provisions of Kan. Stat. Ann. § 75-4215, and amendments thereto, shall apply to the information technology fund to the extent not in conflict with this act.