The Division of Elementary and Secondary Education shall:

1. (1) Conduct an end-of-semester review of each adult education charter school that is in its initial school year of operation at the end of the:

   1. (A) First semester; and
   2. (B) School year; and

2. (2) Report to the State Board of Education and the commissioner on the adult education charter school’s:

   1. (A) Overall financial condition; and
   2. (B) Overall condition of student enrollment.