(A) The monitoring and reporting duties and responsibilities of all community school sponsors include, but are not limited to, the following:

(1) Verification through site-visit prior to the community school's opening for instruction and provision in writing of the annual assurances for each sponsored school no later than ten business days prior to the opening of the school as required by section 3314.19 of the Revised Code

(2) Monitor, evaluate and report the community school's compliance with all laws and rules applicable to the community school and with the terms of the preliminary agreement and the community school contract, including, but not limited to, the following:

(a) Conduct comprehensive site visits to the community school as necessary, but at least twice annually while classes are in session; and

(b) Make written reports of all information obtained during site visits, and provide written reports of all site visits to the department upon request.

(3) Monitor and evaluate the academic and fiscal performance and the organization and operation as well as the legal compliance of the community school, and submit a written report of the evaluation results to the parents of students enrolled in the community school and to the department by November thirtieth of each year;

(4) Notify the department within one business day of a community school's failure to comply with applicable state or federal laws, rules, or contractual requirements, as well as any financial difficulties, if such failure to comply or financial difficulties occur and may result in the sponsor's determination to declare the community school to be on probationary status, to suspend the operation of the community school, or to terminate the community school contract. In such circumstances, the sponsor shall provide written notice to the department within thirty days of the community school's noncompliance or financial difficulties specifying the exact nature of the problem and the plan for and status of any resolution.

(5) Upon request of the department, and when participating in the departments review of sponsor performance, provide an update demonstrating that the sponsor and its representative(s), including those it engages, possess the requisite skills, professional knowledge and expertise to monitor and provide technical assistance to each community school under its sponsorship.

(6) Comply with the financial reporting requirements as established by the department and report the financial record separately for each community school that the entity sponsors in accordance with applicable accounting standards and as prescribed by all applicable sections of the Revised Code and rules of the Administrative Code;

(7) Have in place a written plan of action to be undertaken in the event that the community school experiences financial difficulties or closes prior to the end of a school year, consistent with requirements of division (E) of section 3314.015 of the Revised Code including, but not limited to, the handling of facilities, equipment, materials, supplies, employees, students, school records, which include student records that are consistent with section 3314.44 of the Revised Code, and address any other obligations of the community school and submit the written plan to the department upon request.

(B) A sponsor shall notify the department in writing within twenty-four hours of the execution of each preliminary agreement or community school contract.

(C) A sponsor shall submit a copy of each preliminary agreement, community school contract adoption resolution, executed community school contract, and any amendments thereto, in the format required by the department to the department within ten business days of executing any such agreement, contract or amendments.

(D) Sponsors shall respond in a timely manner to reasonable requests from the department for information, data, and documents.