Sec. 14. (a) Each reporting year, the department shall determine and report the following for each cohort:
(1) A four (4) year graduation rate determined under section 10 of this chapter.
(2) A five (5) year graduation rate determined under section 10.2 of this chapter.
(3) A six (6) and subsequent year graduation rate determined under section 10.5 of this chapter.
(b) Except for the correction of calculation errors, a four (4) year and five (5) year graduation rate may not be altered after the rates are initially reported.