The members of the Children’s Cabinet shall adopt regulations that:
(1) specify the roles and responsibilities of local management boards;
(2) establish minimum standards for the composition of local management boards;
(3) establish fiscal and program accountability in the implementation of community partnership agreements and the use of other State resources by local management boards;
(4) establish procedures to ensure the confidentiality of information shared by local management board members and employees in accordance with State and federal law; and
(5) generally relate to the operation of local management boards.