The statewide formula for the authorizer oversight fee transmitted to an authorizer by the superintendent of public instruction, as provided for in RCW 28A.710.110, shall be calculated as a percentage of the state operating funding distributed to charter schools under RCW 28A.710.220 to each charter school under the jurisdiction of an authorizer, but may not exceed four percent of each charter school's annual funding.

(1) The rate shall be determined annually by the state board of education in consultation with the school district authorizer or the commission as applicable.

(2) The determination of the rate shall take into consideration the performance of schools under the authorizer's oversight including, but not limited to, enrollment, financial stability, performance challenges, and other situations as identified by the authorizer or the board.

(3) Changes to the rates must be determined and reported to authorizers and the office of the superintendent of public instruction by April 15th to take effect for the subsequent school year.