(a) A local commission may:
(1) employ an executive director and other employees and agents and set their compensation;
(2) cooperate or contract with a person, including an agency of the federal government or of another state or municipality; and
(3) accept a public grant or private gift, bequest, or other payment.
(b) A local commission shall prepare at least annually a report and furnish a copy of the report to the Commission on Human Rights.