Serve Kentucky shall:
(1) Develop a strategic plan for service in Kentucky which covers a three (3) year period, and supporting efforts to achieve the goals of this plan. The plan shall be updated annually;
(2) Oversee and submit Kentucky's annual applications to the Corporation for National Service, the federal funding authority, and other funding sources for the continuation and any expansion of the current Kentucky Serve initiative;
(3) Conduct a competitive application process to determine the organizations that will be awarded subgrants to operate national service programs;
(4) Fulfill any other responsibilities required by the Corporation for National Service and other funding sources; and (5) Promulgate administrative regulations pursuant to KRS Chapter 13A to establish operational guidelines for Serve Kentucky.