In addition to the other powers expressly granted and duties imposed by this subtitle, and subject to the authority of the Commission, the Board has only the powers and duties set forth in this section. The Board shall: Operate and exercise general control over Frederick CREST; Assist and support the development of higher education in the Frederick region; Assist in setting the missions of and accomplishing the goals and objectives of the sites in Frederick County; Assist in establishing a Frederick regional higher education center to be named the Frederick Center for Research and Education in Science and Technology; Provide guidance and support in identifying institutions and programs to serve higher education and workforce needs in Frederick County; Assist with the marketing and promotion of programs offered at Frederick CREST and sites; Facilitate interactions among the business, nonprofit, education, military, and Frederick National Laboratory communities; Keep separate records and minutes; and Adopt reasonable rules, regulations, or bylaws to carry out the provisions of this subtitle. The Board may fix the salaries and terms of employment of the Director and other employees of Frederick CREST. The Board may purchase, lease, or otherwise acquire any property it considers necessary for the operation of Frederick CREST. The Board may sell, lease, or otherwise dispose of assets or property of Frederick CREST. The Director of Frederick CREST or the chair of the Board may execute a conveyance or other legal document under an appropriate resolution of the Board. The Board shall ensure that all academic programs and policies of Frederick CREST and sites are in compliance with the policies of and approved by the Commission for regional higher education centers in accordance with § 11–105 of this article. The Board shall submit an adopted mission statement to the Commission subject to the policies and guidelines of the Commission. The Board may apply, accept, and expend any gift, appropriation, or grant from the State, county, or federal government or any other person. The Board may make agreements with the federal, the State, or a county government or any other person if the Board considers the agreement advisable for the operation of Frederick CREST. The Board may adopt a corporate seal. In addition to other reports that may be required by the Commission, the Board shall: Keep records that are consistent with sound business practices and accounting records that use generally accepted accounting principles; Cause an audit by an independent certified public accountant to be made of the accounts and transactions of Frederick CREST at the conclusion of each fiscal year; and For any State money, be subject to an audit by the Office of Legislative Audits, in accordance with §§ 2–1220 through 2–1227 of the State Government Article.