(a) Action plan.--If the report provided for in section 2506-A¹ finds that the district does not conform to the standards, the report must contain an action plan detailing how the district may meet the standards within three years.

(b) Financial management advisory team.--No less than 60 days following receipt of the report, the school board shall establish a local financial management advisory team. The team shall consist of 11 members as follows:

(c) Procedure.--The school board shall establish procedures for selecting the parent, the business and community leaders and members of the general public in order to ensure public awareness of these openings and solicit input from the community.

(d) Chairperson.--The team shall elect a chairperson from among its membership at its first meeting.

(e) Time period.--The team shall be responsible for implementation of the action plan contained in the district's report within a three-year time period.

(f) Technical advisors.--Upon request, the department shall provide, from a list established pursuant to section 2509-A,² such technical advisors as may be necessary to assist the team in implementing the action plan.

(g) Second review.--No later than three years after receipt of a report indicating the district is not in compliance with the best financial management practices standards, or earlier upon request of the school board, the department shall conduct a second review to determine if the district is now in compliance. If this second report indicates that the district is now in compliance, it shall be certified as a Keystone District pursuant to section 2507-A³ and shall fall under all provisions of that section with the next review of the district to take place six years from the date of certification.