A community action agency may accept and administer: financial assistance received under this title; money and contributions from private or local public sources for community action programs; money from State or federal assistance programs under which a public or private nonprofit organization may act as a grantee, contractor, or sponsor of projects suitable for community action programs; and federal money from federal block grants previously designated as antipoverty money, subject to applicable federal law. A community action agency may transfer money and delegate responsibility to a subsidiary board, council, or similar agency for projects designed to further community action program objectives. Responsibility for making policy determinations, including the characters, funding, extent, and administration of and budgeting for programs or projects affecting a particular geographic area in a community may be delegated by a community action agency to a subsidiary board, council, or similar agency if the subsidiary body is broadly representative of the area.