KPI drill-down
Manual exceptions and review meeting items
Every point where a human accounting decision was required, with the treatment applied and its effect on the result.
Headline figure
6 items · 6 not yet approved
Rows shown in red are the items causing this measure to fall short of 100% — they are listed first.
| Detail | |||||||
|---|---|---|---|---|---|---|---|
| JQ-001 | believe | Current Ratio | Should the school-only or consolidated column be used for Believe's short-term health metrics? | School-only column | Yes — fully reconciles | Pending review | Open |
| JQ-002 | believe | Days Cash on Hand | OEI/CAP included the $92,400 trustee-held debt-service reserve in the Days Cash numerator and reported 66 days. Should that reserve have been excluded as restricted cash, which would reduce the result to 61 days? | Exclude the $92,400 trustee-held reserve as restricted cash (our Nsites position), pending written OEI confirmation | No — variance remains | Pending review | Open |
| JQ-003 | matchbook | Days Cash on Hand | Should the board-designated operating reserve be excluded from unrestricted cash? | Exclude | Yes — fully reconciles | Pending review | Open |
| JQ-004 | matchbook | Debt Default | Why this is flagged: Matchbook's audit (34960A.pdf p. 14, Note 7) discloses a debt covenant violation that the lender cured with a waiver. The published report treated this as no default. Nothing is wrong with the numbers — this item exists as a point of future reference: how should a waived covenant violation be described if the same situation recurs in a future year? | Report as covenant violation with waiver | Not a variance | Pending review | Open |
| JQ-005 | gpa | Financial Reporting Requirements | Why this is flagged: Financial Reporting Requirements is scored from OEI's own submission log (did the school file each required report on time). That log is an OEI internal record — it is not in any document the schools provided, so there is no source data to calculate from. The question being posed: without the log, do we honestly mark the metric Unable to Validate, or do we copy OEI's published rating? This item resolves nothing numerically — its purpose is to protect the integrity of the replication scores. | Mark Unable to Validate | Not a variance | Pending review | Open |
| JQ-006 | believe | Debt Service Coverage Ratio | Why this is flagged: the DSCR formula changed between framework versions. The 2025-26 framework (p. 21) includes amortization of debt issuance costs in the numerator; the 2023-24 framework — and CAP's historical practice — excluded it. The question exists because the choice is year-dependent, not a matter of preference: applying the wrong year's rule to a historical period manufactures a variance that isn't real. | Include for FY2024-25; exclude for FY2023-24 periods | Yes — fully reconciles | Pending review | Open |
Rows shown in red are items not yet approved.