Can Event Manager create events?
Nope sorry -- events can only be created by the Head Honcho (Community Manager), i.e. your PTA Chair or whoever set up the account. Ya see, in an ideal world Event Managers are really just regular parents or teachers who want to organise an event. It might even be a one-off event they are running. So it's not really appropriate to let everyone who has ever been promoted to manage an event be able to start creating events willy-nilly.
Instead, the Community Manager has the job of creating or copying events, and then assigning Event Managers to edit specific ones. However, once you have been assigned as the manager of an event, you will be able to edit it's title, description, activities and tasks so you get the run of the place -- your own Tiny Little Empire :)
This allows some control over the event listings but allows specific permissions to be given to those in charge of each event.