Nsites · City of Indianapolis Charter School Intelligence Platform

OEI Financial Validation Lab

Nsites CQ2 calculation, source traceability & replication validation

Reviewer: Allan Bell - Nsites
Run sealed 04 Sep 2026 · 18:16 UTC
KPI drill-down

Metrics tested

Nine CQ2 sub-indicators for each of the three test cases. Open any row for its full proof.

Headline figure
27 metric calculations
Rows shown in red are the items causing this measure to fall short of 100% — they are listed first.
Detail
BELIEVEFY2024-25Three-Year Aggregate Net Income($507,367) Partially validated across 2 of 3 yearsUnable to Validate($484,746)ASMISSING SOURCEOpen
BELIEVEFY2024-25Financial Reporting RequirementsUnable to independently validateUnable to ValidateDNMSDNMSMISSING SOURCEOpen
GPAFY2024-25Three-Year Aggregate Net Income$3,461,587 Partially validated across 2 of 3 yearsUnable to ValidateSee CQ2_Report_GPA_2024-25.pdfNot ratedMISSING SOURCEOpen
GPAFY2024-25Financial Reporting RequirementsUnable to independently validateUnable to ValidateMSMSMISSING SOURCEOpen
MATCHBOOKFY2024-25Three-Year Aggregate Net Income$8,556,576 Partially validated across 2 of 3 yearsUnable to Validate$4,378,601 (FY2021-23 window, 2023-24 report)MSMISSING SOURCEOpen
MATCHBOOKFY2024-25Financial Reporting RequirementsUnable to independently validateUnable to ValidatePer published reportNot ratedMISSING SOURCEOpen
BELIEVEFY2024-25Enrollment Variance100%MS100%MSEXACT MATCHOpen
BELIEVEFY2024-25Current Ratio1.31MS1.31MSEXACT MATCHOpen
BELIEVEFY2024-25Days Cash on Hand66MS66MSEXACT MATCHOpen
BELIEVEFY2024-25Debt DefaultNo defaultMSNoMSEXACT MATCHOpen
BELIEVEFY2024-25Debt-to-Asset Ratio0.97DNMS0.97DNMSEXACT MATCHOpen
BELIEVEFY2024-25Debt Service Coverage Ratio2.91MS2.91MSEXACT MATCHOpen
BELIEVEFY2024-25Financial AuditUnmodified, no material weaknessMSMSMSEXACT MATCHOpen
GPAFY2024-25Enrollment Variance104%MS104%MSEXACT MATCHOpen
GPAFY2024-25Current Ratio14.68MS14.68MSEXACT MATCHOpen
GPAFY2024-25Days Cash on Hand280MS280MSEXACT MATCHOpen
GPAFY2024-25Debt DefaultNo defaultMSNoMSEXACT MATCHOpen
GPAFY2024-25Debt-to-Asset Ratio0.07MS0.07MSEXACT MATCHOpen
GPAFY2024-25Debt Service Coverage Ratio30.90MS30.90MSEXACT MATCHOpen
GPAFY2024-25Financial AuditUnmodified, no findingsMSMSMSEXACT MATCHOpen
MATCHBOOKFY2024-25Enrollment Variance104%MS104%MSEXACT MATCHOpen
MATCHBOOKFY2024-25Current Ratio4.77MS5.18 (FY2023-24 report)MSEXACT MATCHOpen
MATCHBOOKFY2024-25Days Cash on Hand21DNMS80 (FY2023-24 report)MSEXACT MATCHOpen
MATCHBOOKFY2024-25Debt DefaultCovenant violation with waiverMSNoMSREQUIRES HUMAN JUDGMENTOpen
MATCHBOOKFY2024-25Debt-to-Asset Ratio0.65MS0.77MSEXACT MATCHOpen
MATCHBOOKFY2024-25Debt Service Coverage Ratio3.60MS13.05MSEXACT MATCHOpen
MATCHBOOKFY2024-25Financial AuditUnmodified; one significant deficiencyMSMSMSEXACT MATCHOpen
Rows shown in red could not be independently calculated from the supplied sources.