(a) Each chartering authority, in addition to any other duties imposed by this part, shall do all of the following with respect to each charter school under its authority:
(1) Identify at least one staff member as a contact person for the charter school.
(2) Visit each charter school at least annually.
(3) Ensure that each charter school under its authority complies with all reports required of charter schools by law, including the local control and accountability plan and annual update to the local control and accountability plan required pursuant to Section 47606.5.
(4) Monitor the fiscal condition of each charter school under its authority.
(5) Provide timely notification to the department if any of the following circumstances occur or will occur with regard to a charter school for which it is the chartering authority:
(A) A renewal of the charter is granted or denied.
(B) The charter is revoked.
(C) The charter school will cease operation for any reason.
(b) The cost of performing the duties required by this section shall be funded with supervisorial oversight fees collected pursuant to Section 47613.