Each school district in the state shall, in accordance with applicable state law, this part, and the guidelines published by the Division of Public School Academic Facilities and Transportation:

1. (1) Submit the district’s facilities master plan, with a summary of comments made at public hearing, to the division by February 1 of each even numbered year;

2. (2) Submit a report to the division by February 1 of each odd-numbered year that includes:

   1. (A) An update of all completed projects since the most recent submission;
   2. (B) Current enrollment projections;
   3. (C) New or continuing needs of the district with regard to academic facilities; and
   4. (D) An accounting of any changes to the district’s insurance coverage from the most recent submission;
3. (3) Submit evidence of the school district’s insurance coverage, including coverage amounts, types of coverage, identification of buildings covered, policy renewal dates, and all riders, to the division no later than February 1 of each even numbered year;
4. (4) Submit a report to the division by February 1 of each year that includes the information required in subdivision (d)(3) of this section; and
5. (5) A school district that has encountered one (1) of the conditions listed in 6 CAR § 322-102(2) may submit an amended master plan to the division out of the regular even-numbered year cycle.