An operator shall conduct an evaluation of the pilot each year. After receiving approval of the advisory board, the operator shall submit an evaluation report to the Department and the Maryland Department of Labor for the prior fiscal year that includes: Academic and career progress of each student enrolled in the pilot; and The pilot’s fiscal year financial report. On or before October 1 of each year, the operator shall submit to the Department and the Maryland Department of Labor the following information for the prior fiscal year: Whether students enrolled in the pilot are on track for completion in a time determined reasonable by the advisory board; The academic levels of the students at the time of enrollment in the pilot; The academic progress of students as measured by pre-test and post-test assessments and the assessment instruments used; Graduation rates; and The number of: Credits students have completed; Students who completed the program and graduated; Postsecondary credits earned by the students concurrently and the type of credit sought; Industry credentials earned by students and the types of industry credentials; and Students in post-graduation employment. If the Department and the Maryland Department of Labor determine that the pilot is not effective, they shall send written notice to the operator: Of any corrective action needed to prevent termination of the pilot; and The time period during which corrective action must be completed.