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
Mode B

Quarterly / Unaudited Automation

Mode A replicates the published annual CQ2 evaluation from audited information. Mode B, below, automates the recurring finance review OEI performs during the year.

These are unaudited indicative values. Under the applicable framework a quarterly figure is not equivalent to a formal annual OEI accountability rating, so no rating is assigned here.
FY2026 Q4 (unaudited, as of 06/30/2026)

BELIEVE Circle City High School

Source: 06-30-2026 Mayor Reports - BCC HS.xlsx + 06-30-26 - Build Believe.xlsx

Improving — liquidity up, operating result positive, leverage unchanged.
MeasureValuevs most recent auditSource coordinate
Current assets$1,702,455+$216,251Mayor Reports · 'Balance Sheet' · C22
Current liabilities$1,181,004+$46,497Mayor Reports · 'Balance Sheet' · C41
Current ratio1.44+0.13Calculated
Cash$1,288,700+$152,800Mayor Reports · 'Balance Sheet' · C9
Adjusted / unrestricted cash$1,196,300+$152,800Less $92,400 trustee escrow
Days cash on hand (indicative)70+7Calculated (unaudited)
Revenue actual$6,905,220Mayor Reports · 'P&L' · D60
Revenue budget$6,780,000Mayor Reports · 'Budget' · D60
Revenue variance+1.8%Calculated
Expense actual$6,588,010Mayor Reports · 'P&L' · D95
Expense budget$6,640,000Mayor Reports · 'Budget' · D95
Expense variance−0.8%Calculated
Net income / operating result$317,210Calculated
Enrollment actual409Mayor Reports · 'Enrollment' · B12
Enrollment budget410Mayor Reports · 'Enrollment' · B11
Enrollment variance99.8%Calculated
Debt position$11,940,000 facility note (Build Believe)Build Believe · 'Debt Schedule' · F24
FY2026 Q4 (unaudited, as of 06/30/2026)

Global Preparatory Academy

Source: GPA 063026 Quarterly Financials- OEI-1.pdf

Stable — very strong liquidity maintained.
MeasureValuevs most recent auditSource coordinate
Current assets$9,240,110+$433,396PDF p. 3 (printed 2) — Balance Sheet
Current liabilities$644,902+$45,129PDF p. 3 (printed 2) — Balance Sheet
Current ratio14.33−0.35Calculated
Cash$9,014,600PDF p. 3 (printed 2)
Adjusted / unrestricted cash$8,760,300Less $254,300 restricted grant cash
Days cash on hand (indicative)274−6Calculated (unaudited)
Revenue actual$13,402,880PDF p. 5 (printed 4)
Revenue budget$13,100,000PDF p. 6 (printed 5)
Revenue variance+2.3%Calculated
Expense actual$11,690,400PDF p. 5 (printed 4)
Expense budget$11,850,000PDF p. 6 (printed 5)
Expense variance−1.3%Calculated
Net income / operating result$1,712,480Calculated
Enrollment actual769PDF p. 8 (printed 7)
Enrollment budget755PDF p. 8 (printed 7)
Enrollment variance101.9%Calculated
Debt position$628,000 note payablePDF p. 9 (printed 8)
FY2026 Q4 (unaudited, as of 06/30/2026)

Matchbook Learning Schools of Indiana

Source: MBLI Quarterly Financials 063026 (1).pdf

Watch — expenses over budget and cash declining versus last audit.
MeasureValuevs most recent auditSource coordinate
Current assets$3,880,400−$435,483PDF p. 4 (printed 3)
Current liabilities$1,010,220+$177,038PDF p. 4 (printed 3)
Current ratio3.84−1.34Calculated
Cash$1,980,500PDF p. 4 (printed 3)
Adjusted / unrestricted cash$1,719,200Less $261,300 board-designated reserve
Days cash on hand (indicative)61−19Calculated (unaudited)
Revenue actual$10,120,700PDF p. 6 (printed 5)
Revenue budget$10,410,000PDF p. 7 (printed 6)
Revenue variance−2.8%Calculated
Expense actual$10,455,900PDF p. 6 (printed 5)
Expense budget$10,190,000PDF p. 7 (printed 6)
Expense variance+2.6%Calculated
Net income / operating result($335,200)Calculated
Enrollment actual578PDF p. 10 (printed 9)
Enrollment budget600PDF p. 10 (printed 9)
Enrollment variance96.3%Calculated
Debt position$5,910,000 facility loan; $0 drawn on line of creditPDF p. 11 (printed 10)