It shall be the function of the local planning commission upon the authorization of the governing authority or authorities to prepare the comprehensive plan and program for the physical, social, and economic growth of its jurisdiction in order to promote the public health, safety, morals, convenience, prosperity, or the general welfare as well as efficiency and economy in the development of its jurisdiction. The comprehensive plan and program shall include recommended means of implementation and shall be based upon careful and comprehensive surveys and studies of existing conditions and probable future development. In the discharge of its responsibilities, the local planning commission shall have the power to:

1. (1) Prepare and revise periodically a comprehensive plan and program for the development of its jurisdiction as provided in this chapter.

2. (2) Prepare and recommend for adoption to the appropriate governing authority or authorities as a means for implementing the plan and program:

   1. (a) Zoning ordinances or resolutions, and maps and appropriate revisions thereof for its jurisdiction, as provided in this chapter;
   2. (b) Regulations for the subdivision of land and appropriate revisions thereof within its jurisdiction, and to administer the regulations that may be adopted as provided in this chapter;
   3. (c) An official map and appropriate revision thereof showing the exact location of existing or proposed public street, highway and utility rights-of-way and public building sites, together with regulations to control the erection of buildings or other structures or changes in land use within such rights-of-way, building sites or open spaces within its political jurisdiction or a specified portion thereof, as set forth in this chapter;
   4. (d) A capital program for its jurisdiction based on the comprehensive plan and the capital improvements necessary to implement the plan. Such a capital program shall include an annual capital budget based on estimates of the cost of proposed projects and the means of financing them. The commission shall submit the capital program, including the capital budget, to the governing authority or authorities as directed.