(a) The Commission shall institute a system of financial accountability and expenditures for the development of sports and recreation in the Territory.
(b) The Commission shall:
(1) assume a leadership role in identifying and seeking financial support for sports and recreation programs from the federal government, the Virgin Islands Government, the public and private sector;
(2) Deleted.
(3) collaborate with sports organizations and coordinate their plans to undertake fund-raising programs; and
(4) Assist in identifying sports that have high potential as viable economic opportunities for the territory.
(c) The Commissioner of the Department of Sports, Parks and Recreations shall administer the monies received by the Commission either through appropriations from the Legislature of the Virgin Islands, donations or through fundraisers by the Commission to fund the activities of the Commission.