The CAFO shall be responsible for the overall administration of the chronically poor performing LHA or specific functions as designated by EOHLC. The term of the appointment shall be for a term of not more than 3 years. The CAFO shall be appointed solely on the basis of administrative and executive qualifications and shall be especially fitted by education, training and experience to perform the duties of the office. The CAFO shall not be required to be a resident of the commonwealth or of the same municipality in which the chronically poor performing LHA is located. The powers and duties of the CAFO shall include but not be limited to the following: (i) coordinating, administering and supervising financial services and activities; (ii) implementing and maintaining uniform systems, controls and procedures for financial activities; (iii) reviewing proposed contracts and obligations; (iv) reviewing the spending plan for each LHA department; and (v) evaluating the LHA’s current Annual Plan and implementing a written plan to meet EOHLC’s assessment standards, including, but not limited to, the possibility of the chronically poor performing LHA merging with another LHA..