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
BELIEVE · calculation basis

BELIEVE Circle City High School — source evidence completeness

This measures evidence, not accuracy. Every number that enters a formula is counted as one input; an input is complete when it carries a page-level (PDF) or sheet/cell-level (Excel) coordinate back to a supplied document. 21 of 22 inputs for this school carry that coordinate. Open any row to view the highlighted source.

Headline figure
21 ÷ 22 = 95.5%
Rows shown in red are the items causing this measure to fall short of 100% — they are listed first.
Detail
Financial Reporting Requirementssubmission_logNot providedOpen
Enrollment Varianceenrollment_budget40006-30-2026 Mayor Reports - BCC HS.xlsxBudget Summary!D14HighOpen
Enrollment Varianceadm_fall40226520S.pdfPDF p.19HighOpen
Enrollment Varianceadm_spring39826520S.pdfPDF p.19HighOpen
Current Ratiocurrent_assets143465326520A.pdfPDF p.4HighOpen
Current Ratiocurrent_liabilities109551126520A.pdfPDF p.4HighOpen
Days Cash on Handcash_gross112122126520A.pdfPDF p.7HighOpen
Days Cash on Handtotal_expenses641147326520A.pdfPDF p.8HighOpen
Days Cash on Handdepreciation22347026520A.pdfPDF p.9HighOpen
Debt Defaultdebt_noteIn compliance; no waiver26520A.pdfPDF p.12HighOpen
Debt Defaultaffiliate_debtBuild Believe Properties, LLC — payments current06-30-26 - Build Believe.xlsxDebt Schedule!B4:H22MediumOpen
Three-Year Aggregate Net Incomenet_income_fy23FY2022-23 audited financial statements not in data room— not provided —PDF p.0LowOpen
Three-Year Aggregate Net Incomenet_income_fy24-84439526520A.pdfPDF p.8HighOpen
Three-Year Aggregate Net Incomenet_income_fy2533702826520A.pdfPDF p.8HighOpen
Debt-to-Asset Ratiototal_liabilities440842226520A.pdfPDF p.4HighOpen
Debt-to-Asset Ratiototal_assets453684026520A.pdfPDF p.4HighOpen
Debt Service Coverage Rationet_income_fy2533702826520A.pdfPDF p.8HighOpen
Debt Service Coverage Ratiodepreciation22347026520A.pdfPDF p.9HighOpen
Debt Service Coverage Ratiointerest_expense17353026520A.pdfPDF p.9HighOpen
Debt Service Coverage Ratiocurrent_maturities7903126520A.pdfPDF p.14HighOpen
Financial Auditaudit_opinionUnmodified26520A.pdfPDF p.2HighOpen
Financial Auditaudit_findingsNo material weakness; prior-year deficiency remediated26520S.pdfPDF p.23HighOpen
1 input(s) lack a source coordinate and are disclosed rather than estimated.