Va. Code Ann. § 23.1-3110

The board may appoint a (i) president or (ii) president and executive director of the Institute who may be an employee of Averett University, Danville Community College, or Virginia Polytechnic Institute and State University. The president or president and executive director shall supervise and manage the Institute and shall prepare and submit, upon the direction and approval of the board, all budgets and requests for appropriations.