The Division of Elementary and Secondary Education shall:
(1) Conduct an end-of-semester review of each open-enrollment public charter school that is in its initial school year of operation at the end of the first semester and at the end of the school year; and
(2) Report to the State Board of Education and the Commissioner of Elementary and Secondary Education on the open-enrollment public charter school's:
(A) Overall financial condition; and
(B) Overall condition of student enrollment.