(a) appoint an Executive Director;

(b) prepare a management plan in cooperation with persons owning land in the Waterway and submit the plan to the Province and to the State of Maine for approval;

(c) seek to implement any management plan approved by the Province and the State of Maine through the creation of working agreements among the appropriate governmental departments of the Province and the State of Maine and other interested public and private bodies and individuals; and

(d) submit an annual budget to the Province and to the State of Maine, outlining the estimated revenues and expenditures of the Commission for the coming year, together with an audited statement of the financial operations of the Commission for the previous year.