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
Three-School Matrix / BELIEVE / FY2024-25 / Three-Year Aggregate Net Income
BELIEVE Circle City High School · FY2024-25 · Annual Audited · Calculation level: Consolidated Organization

Three-Year Aggregate Net Income

Sum 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

Nsites logoresult
($507,367) Partially validated across 2 of 3 years
Unable to Validate
Published OEIresult
($484,746)
AS
Status
MISSING SOURCE
Nsites logo
From Data To Decisions
Three-year aggregate requires the FY2022-23 audited statements, which were not among the 27 files provided. FY2023-24 and FY2024-25 are independently verified from 26520A.pdf; the FY2022-23 figure previously shown here could not be traced to any uploaded source and has been removed. Published target ($484,746, rated AS) implies an FY2022-23 result of roughly +$22,621, which cannot be confirmed without the source audit.
Formula — MSCS Performance Framework 2025-26

Σ change in net assets, FY2022-23 + FY2023-24 + FY2024-25

Rating threshold: Aggregate three-year net income positive = Meets Standard

Source inputs
FY2022-23 change in net assets
Normalized field: net_income_fy23
FY2022-23 audited financial statements not in data room
— not provided — · — · PDF page 0 · FY2023 change in net assets
Confidence: Low · Gap identified · Approved
View source
FY2023-24 change in net assets
Normalized field: net_income_fy24
($844,395)
26520A.pdf · Consolidated Statements of Activities — comparative FY2024 column · PDF page 8 (printed page 5) · Change in net assets — ($844,395)
Confidence: High · OCR (scanned statement page) — analyst verified · Approved
View sourceOpen file
FY2024-25 change in net assets
Normalized field: net_income_fy25
$337,028
26520A.pdf · Consolidated Statements of Activities · PDF page 8 (printed page 5) · Change in net assets — $337,028
Confidence: High · OCR (scanned statement page) — analyst verified · Approved
View sourceOpen file
Calculation
  1. FY2022-23: NOT AVAILABLE — FY2022-23 audited statements were not provided in the data room
  2. FY2023-24: ($844,395) (audited, 26520A.pdf comparative column)
  3. FY2024-25: $337,028 (audited, 26520A.pdf)
  4. Two-of-three verified subtotal = ($507,367)
  5. Aggregate cannot be finalized until the FY2022-23 audit is supplied
OEI rating test

Aggregate three-year net income positive = Meets Standard

Insights rating:Unable to Validate
Comparison
Nsites logo($507,367) Partially validated across 2 of 3 years / Unable to Validate
Salesforce / CAP$337,028 (FY25 only)
Published OEI($484,746) / AS
Variance—
StatusMISSING SOURCE

CAP note: CAP pull contains single-year net income; no three-year aggregate is computed in Salesforce.

Reconciliation — Nsites vs OEI

($507,367) verified across two years vs ($484,746) published across three

Difference: $22,621 — entirely the unavailable FY2022-23 year · Likely cause: Missing source document

Nsites calculation

Nsites calculation — verified years only

FY2022-23 change in net assets
Not available

FY2022-23 audited statements were not provided

FY2023-24 change in net assets (26520A.pdf p. 8, comparative)
($844,395)
FY2024-25 change in net assets (26520A.pdf p. 8)
$337,028
Two-of-three subtotal
($507,367)
Result
Unable to validate — 2 of 3 years
Unable to Validate
OEI assumed methodologyAssumed — reverse-engineered

OEI published — implied three-year total

Published three-year aggregate
($484,746)
Less the two independently verified years
($507,367)
Implied FY2022-23 change in net assets
$22,621

Derived by subtraction; no source document supports it

Result
($484,746)
AS — Approaching Standard
Bridge between the two results
Reconciling itemEffectWhy the two calculations differ
Missing FY2022-23 audited statements$22,621The whole difference is the missing year. The two overlapping years agree with the audit to the dollar, so nothing suggests a methodology difference — only an evidence gap.

Conclusion: The item stays Unable to Validate. Supplying the FY2022-23 audit would either confirm the implied $22,621 and close the item as an exact match, or expose a genuine methodology difference. The implied figure is never used as a calculation input.

Sequencing proof
  1. 1. Source documents ingested and classified.
  2. 2. Raw values extracted with page/cell coordinates.
  3. 3. OEI mapping and accounting treatment applied.
  4. 4. Formula executed — targets not in engine memory.
  5. 5. Nsites result locked 18:15:15 UTC.
  6. 6. Salesforce/CAP and published CQ2 revealed 18:15:44 UTC.
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