(1) The performance report will summarize the school's performance record and provide notice of any weaknesses or concerns perceived by the commission that may jeopardize the school's renewal if not timely rectified.

(2) The commission's school performance report will include, but is not limited to, the following information:

(a) Academic information such as student achievement data, comparative performance, student progress, postsecondary readiness, state and federal accountability, and mission specific accountability;

(b) Financial information such as near term indicators, sustainability indicators, and audit and accounting indicators; and

(c) Organizational information such as education program, charter school law compliance, safety and welfare compliance, board performance and stewardship, student involvement and retention, and mission specific accountability.

(3) If there are reasons why the commission may not renew the charter, the performance report will provide the school with notice of those reasons and the prospect for nonrenewal.