Three-School CQ2 Replication Matrix

Primary validation view

Three-School CQ2 Replication

Nsites results are locked before Salesforce/CAP and published OEI values are revealed. Nothing in the right-hand columns feeds the left-hand columns. Replication = can we reproduce the published OEI number from source documents; basis questions are handled separately.

Mode: Annual Audited · 27 of 27 rows

School / Metric	Inputs	Calculation		Rating	Salesforce / CAP	Published OEI	Pub. rating	Variance	Match	Evidence	Status
Enrollment VarianceWhat this metric capturesActual ADM as a percentage of board-approved budgeted enrollment.Formula: AVG(Fall ADM / Budget, Spring ADM / Budget)Meets Standard: ≥95% MS · 90–94.9% AS · <90% DNMS BELIEVE · FY2024-25 · School	Board-approved budgeted enrollment · Fall (October) ADM · Spring (February) ADM	Spring variance = 398 / 400 = 99.50%	100%	MS	100%	100%	MS	0.00	Yes	Complete	EXACT MATCH
Current RatioWhat this metric capturesAbility to meet obligations coming due within one year.Formula: Current Assets / Current LiabilitiesMeets Standard: ≥1.10 MS · 1.00–1.09 AS · <1.00 DNMS BELIEVE · FY2024-25 · School	Current Assets · Current Liabilities	= 1.30958	1.31	MS	1.31	1.31	MS	0.00vspublished·0.00vsCAP	Yes	Complete	EXACT MATCH
Days Cash on HandWhat this metric capturesDays of operations covered by unrestricted cash.Formula: Unrestricted Cash / ((Total Expenses − Depreciation) / 365)Meets Standard: ≥60 days MS · 30–59 AS · <30 DNMS BELIEVE · FY2024-25 · School	Cash and cash equivalents · Total expenses · Depreciation	$1,121,221 / $16,953.43 = 66.14	66	MS	66.14	66	MS	0.00vspublished·0.00vsCAP	Yes	Complete	EXACT MATCH
Debt DefaultWhat this metric capturesWhether the organization is in default or delinquency on any debt or lease obligation.Formula: Qualitative determinationMeets Standard: No default MS · waived covenant violation MS with disclosure · default DNMS BELIEVE · FY2024-25 · Consolidated Organization	Debt and covenant disclosure · Affiliate debt schedule	Debt-service coverage covenant met at June 30, 2025; no waiver required.	Nodefault	MS	No	No	MS	—	Yes	Complete	EXACT MATCH
Three-Year Aggregate Net IncomeWhat this metric capturesSum of change in net assets over the three most recent audited years.Formula: Σ change in net assets (3 years)Meets Standard: Positive aggregate MS · negative aggregate DNMS BELIEVE · FY2024-25 · Consolidated Organization	FY2022-23 change in net assets · FY2023-24 change in net assets · FY2024-25 change in net assets	Two-of-three verified subtotal = ($507,367)	($507,367)Partiallyvalidatedacross2 of 3years	UNABLETOVALIDATE	$337,028(FY25only)	($484,746)	AS	—	n/a	Complete	MISSING SOURCE
Debt-to-Asset RatioWhat this metric capturesLeverage of the reporting entity.Formula: Total Liabilities / Total AssetsMeets Standard: ≤0.90 MS · 0.91–1.00 AS · >1.00 DNMS BELIEVE · FY2024-25 · Consolidated Organization	Total Liabilities · Total Assets	= 0.97169	0.97	DNMS	0.97	0.97	DNMS	0.00	Yes	Complete	EXACT MATCH
Debt Service Coverage RatioWhat this metric capturesCash flow available to service annual debt obligations.Formula: (Change in Net Assets + Depreciation + Amortization + Interest Expense) / (Principal + Interest Payments)Meets Standard: ≥1.10 MS · 1.00–1.09 AS · <1.00 DNMS BELIEVE · FY2024-25 · Consolidated Organization	Change in net assets · Depreciation · Interest expense · Current maturities of long-term debt (FY2026 principal)	$734,028 / $252,561 = 2.9063	2.91	MS	NotcomputedinCAPpull	2.91	MS	0.00vspublished	Yes	Complete	EXACT MATCH
Financial AuditWhat this metric capturesQuality of the annual audit result.Formula: Qualitative determinationMeets Standard: Unmodified, no material weakness MS · material weakness or going concern DNMS BELIEVE · FY2024-25 · Consolidated Organization	Auditor opinion · Findings and questioned costs	One significant deficiency noted in prior year; remediated and not repeated in FY2025.	Unmodified,nomaterialweakness	MS	MS	MS	MS	—	Yes	Complete	EXACT MATCH
Financial Reporting RequirementsWhat this metric capturesTimeliness and completeness of required submissions to OEI.Formula: On-time complete submissions / required submissionsMeets Standard: All on time MS · any late or incomplete DNMS BELIEVE · FY2024-25 · School	OEI submission history / due-date log	Nsites calculation not attempted — OEI submission log was not provided in the source package.	Unabletoindependentlyvalidate	UNABLETOVALIDATE	NotpresentinCAPpull	DNMS	DNMS	n/a	n/a	Missing	MISSING SOURCE
Enrollment VarianceWhat this metric capturesActual ADM as a percentage of board-approved budgeted enrollment.Formula: AVG(Fall ADM / Budget, Spring ADM / Budget)Meets Standard: ≥95% MS · 90–94.9% AS · <90% DNMS GPA · FY2024-25 · School	Board-approved budgeted enrollment · Fall (October) ADM · Spring (February) ADM	Average = (104.25% + 103.84%) / 2 = 104.04%	104%	MS	104%	104%	MS	0.00	Yes	Complete	EXACT MATCH
Current RatioWhat this metric capturesAbility to meet obligations coming due within one year.Formula: Current Assets / Current LiabilitiesMeets Standard: ≥1.10 MS · 1.00–1.09 AS · <1.00 DNMS GPA · FY2024-25 · School	Current Assets · Current Liabilities	= 14.6834	14.68	MS	14.68	14.68	MS	0.00	Yes	Complete	EXACT MATCH
Days Cash on HandWhat this metric capturesDays of operations covered by unrestricted cash.Formula: Unrestricted Cash / ((Total Expenses − Depreciation) / 365)Meets Standard: ≥60 days MS · 30–59 AS · <30 DNMS GPA · FY2024-25 · School	Cash and cash equivalents (unrestricted) · Total expenses (audited) · IPS in-kind contributed services removed · Depreciation	$8,341,237 / $29,788.61 = 280.01	280	MS	280.01	280	MS	0.00vspublished·0.00vsCAP	Yes	Complete	EXACT MATCH
Debt DefaultWhat this metric capturesWhether the organization is in default or delinquency on any debt or lease obligation.Formula: Qualitative determinationMeets Standard: No default MS · waived covenant violation MS with disclosure · default DNMS GPA · FY2024-25 · School	Debt disclosure · Subsequent events	No covenant violations, waivers or delinquencies disclosed.	Nodefault	MS	No	No	MS	—	Yes	Complete	EXACT MATCH
Three-Year Aggregate Net IncomeWhat this metric capturesSum of change in net assets over the three most recent audited years.Formula: Σ change in net assets (3 years)Meets Standard: Positive aggregate MS · negative aggregate DNMS GPA · FY2024-25 · School	FY2022-23 change in net assets · FY2023-24 change in net assets · FY2024-25 change in net assets	Two-of-three verified subtotal = $3,461,587 (positive)	$3,461,587Partiallyvalidatedacross2 of 3years	UNABLETOVALIDATE	$1,555,010(FY25only)	See CQ2_Report_GPA_2024-25.pdf	Not rated	—	n/a	Complete	MISSING SOURCE
Debt-to-Asset RatioWhat this metric capturesLeverage of the reporting entity.Formula: Total Liabilities / Total AssetsMeets Standard: ≤0.90 MS · 0.91–1.00 AS · >1.00 DNMS GPA · FY2024-25 · School	Total Liabilities · Total Assets	= 0.07034	0.07	MS	0.07	0.07	MS	0.00	Yes	Complete	EXACT MATCH
Debt Service Coverage RatioWhat this metric capturesCash flow available to service annual debt obligations.Formula: (Change in Net Assets + Depreciation + Amortization + Interest Expense) / (Principal + Interest Payments)Meets Standard: ≥1.10 MS · 1.00–1.09 AS · <1.00 DNMS GPA · FY2024-25 · School	Change in net assets · Depreciation · Interest expense · Principal payments · Interest payments	$1,594,983 / $51,625 = 30.8957	30.90	MS	30.90	30.90	MS	0.00	Yes	Complete	EXACT MATCH
Financial AuditWhat this metric capturesQuality of the annual audit result.Formula: Qualitative determinationMeets Standard: Unmodified, no material weakness MS · material weakness or going concern DNMS GPA · FY2024-25 · School	Auditor opinion · Internal control findings	Uniform Guidance / GAS report: no material weaknesses, no significant deficiencies identified.	Unmodified,nofindings	MS	MS	MS	MS	—	Yes	Complete	EXACT MATCH
Financial Reporting RequirementsWhat this metric capturesTimeliness and completeness of required submissions to OEI.Formula: On-time complete submissions / required submissionsMeets Standard: All on time MS · any late or incomplete DNMS GPA · FY2024-25 · School	OEI submission history / due-date log	Nsites calculation not attempted — OEI submission log was not provided in the source package.	Unabletoindependentlyvalidate	UNABLETOVALIDATE	NotpresentinCAPpull	MS	MS	n/a	n/a	Missing	MISSING SOURCE
Enrollment VarianceWhat this metric capturesActual ADM as a percentage of board-approved budgeted enrollment.Formula: AVG(Fall ADM / Budget, Spring ADM / Budget)Meets Standard: ≥95% MS · 90–94.9% AS · <90% DNMS MATCHBOOK · FY2024-25 · Network	Board-approved budgeted enrollment (K-8 + The Match HS) · Fall (October) ADM · Spring (February) ADM	Spring variance = 605 / 585 = 103.42%	104%	MS	104%	104%	MS	0.00	Yes	Complete	EXACT MATCH
Current RatioWhat this metric capturesAbility to meet obligations coming due within one year.Formula: Current Assets / Current LiabilitiesMeets Standard: ≥1.10 MS · 1.00–1.09 AS · <1.00 DNMS MATCHBOOK · FY2024-25 · Network	Current Assets · Current Liabilities	= 4.77317	4.77	MS	4.77	5.18(FY2023-24report)	MS	0.00	Yes	Complete	EXACT MATCH
Days Cash on HandWhat this metric capturesDays of operations covered by unrestricted cash.Formula: Unrestricted Cash / ((Total Expenses − Depreciation) / 365)Meets Standard: ≥60 days MS · 30–59 AS · <30 DNMS MATCHBOOK · FY2024-25 · Network	Cash and cash equivalents (network) · Total expenses (audited) · Depreciation	$754,842 / $36,712.39 = 20.56	21	DNMS	20.56	80(FY2023-24report)	MS	0.00vsCAP·FY2024-25publishedreportnotprovided	n/a	Complete	EXACT MATCH
Debt DefaultWhat this metric capturesWhether the organization is in default or delinquency on any debt or lease obligation.Formula: Qualitative determinationMeets Standard: No default MS · waived covenant violation MS with disclosure · default DNMS MATCHBOOK · FY2024-25 · Network	Covenant / waiver disclosure	One covenant (days cash) was violated at year end; a written waiver was obtained from the lender.	Covenantviolationwithwaiver	MS	No	No	MS	—	Yes	Complete	REQUIRES HUMAN JUDGMENT
Three-Year Aggregate Net IncomeWhat this metric capturesSum of change in net assets over the three most recent audited years.Formula: Σ change in net assets (3 years)Meets Standard: Positive aggregate MS · negative aggregate DNMS MATCHBOOK · FY2024-25 · Network	FY2022-23 change in net assets · FY2023-24 change in net assets · FY2024-25 change in net assets	Two-of-three verified subtotal = $8,556,576 (positive)	$8,556,576Partiallyvalidatedacross2 of 3years	UNABLETOVALIDATE	$4,210,648(FY25only)	$4,378,601(FY2021-23window,2023-24report)	MS	—	n/a	Complete	MISSING SOURCE
Debt-to-Asset RatioWhat this metric capturesLeverage of the reporting entity.Formula: Total Liabilities / Total AssetsMeets Standard: ≤0.90 MS · 0.91–1.00 AS · >1.00 DNMS MATCHBOOK · FY2024-25 · Network	Total Liabilities · Total Assets	= 0.64661	0.65	MS	0.77	0.77	MS	0.00	Yes	Complete	EXACT MATCH
Debt Service Coverage RatioWhat this metric capturesCash flow available to service annual debt obligations.Formula: (Change in Net Assets + Depreciation + Amortization + Interest Expense) / (Principal + Interest Payments)Meets Standard: ≥1.10 MS · 1.00–1.09 AS · <1.00 DNMS MATCHBOOK · FY2024-25 · Network	Change in net assets · Depreciation · Interest expense · Principal payments · Interest payments	$6,062,329 / $1,681,849 = 3.6046	3.60	MS	13.05	13.05	MS	0.00	Yes	Complete	EXACT MATCH
Financial AuditWhat this metric capturesQuality of the annual audit result.Formula: Qualitative determinationMeets Standard: Unmodified, no material weakness MS · material weakness or going concern DNMS MATCHBOOK · FY2024-25 · Network	Auditor opinion · Findings	One significant deficiency reported (segregation of duties) — not a material weakness.	Unmodified;onesignificantdeficiency	MS	MS	MS	MS	—	Yes	Complete	EXACT MATCH
Financial Reporting RequirementsWhat this metric capturesTimeliness and completeness of required submissions to OEI.Formula: On-time complete submissions / required submissionsMeets Standard: All on time MS · any late or incomplete DNMS MATCHBOOK · FY2024-25 · Network	OEI submission history / due-date log	Nsites calculation not attempted — OEI submission log was not provided in the source package.	Unabletoindependentlyvalidate	UNABLETOVALIDATE	NotpresentinCAPpull	Perpublishedreport	Not rated	n/a	n/a	Missing	MISSING SOURCE

Financial Reporting Requirements returns “Unable to independently validate” for all three schools: the OEI submission log is not in the source package, and the published rating may not be reused as an input.