Days Cash on Hand

Three-School Matrix / MATCHBOOK / FY2024-25 / Days Cash on Hand

Matchbook Learning Schools of Indiana, Inc. · FY2024-25 · Annual Audited · Calculation level: Network

Days of operations covered by unrestricted cash.

Formula: Unrestricted Cash / ((Total Expenses − Depreciation) / 365)

Meets Standard: ≥60 days MS · 30–59 AS · <30 DNMS

result

DNMS

Published OEIresult

80 (FY2023-24 report)

Status

EXACT MATCH

From Data To Decisions

Formula — OEI-MSCS Performance Framework 2023-24

Unrestricted Cash / ((Total Expenses − Depreciation) / 365)

Rating threshold: ≥ 45 days = Meets Standard (30–44 = Approaching; < 30 = Does Not Meet)

Source inputs

Cash and cash equivalents (network)

Normalized field: cash_gross

$754,842

34960A.pdf · Statements of Financial Position — combined network · PDF page 5 (printed page 4) · Cash and cash equivalents — $754,842 at June 30, 2025

Confidence: High · Structured PDF text extraction · Approved

View source Open file

Total expenses (audited)

Normalized field: total_expenses

$13,769,855

Raw $16,452,973 · adjustment ($2,683,118) · adjusted $13,769,855 — OEI removes IPS in-kind contributed services from the expense base. Audited total expenses $16,452,973 − in-kind IPS expenses $2,683,118 = $13,769,855, which agrees exactly to the expense base in the Salesforce/CAP 'OEI FY25 Raw Data' tab.

34960A.pdf · Statements of Activities · PDF page 6 (printed page 5) · Total expenses — $16,452,973

Confidence: High · Structured PDF text extraction · Approved

View source Open file

Depreciation

Normalized field: depreciation

$369,832

34960A.pdf · Statements of Functional Expenses — combined · PDF page 9 (printed page 8) · Depreciation — $369,832

Confidence: High · OCR (scanned statement page) — analyst verified · Approved

View source Open file

Calculation

Cash and cash equivalents (network) = $754,842
Audited total expenses = $16,452,973
Less IPS in-kind contributed services = −$2,683,118
Less depreciation = −$369,832
OEIOEI — Office of Education InnovationThe City of Indianapolis Mayor's Office division that authorizes and oversees mayor-sponsored charter schools. OEI publishes the performance framework and the annual accountability reports this platform independently replicates. expense base = $13,769,855 − $369,832 = $13,400,023
Daily expense = $36,712.39
$754,842 / $36,712.39 = 20.56
Rounded = 21 — below the 30-day covenant floor

OEI rating test

≥ 45 days = Meets Standard (30–44 = Approaching; < 30 = Does Not Meet)

Insights rating:DNMS

Comparison

21 / DNMS

Salesforce / CAP20.56

Published OEI80 (FY2023-24 report) / MS

Variance0.00 vs CAP · FY2024-25 published report not provided

StatusEXACT MATCH

CAP note: Salesforce/CAP 'OEI FY25 Raw Data from SF', Matchbook 'Audit 24-25' row: expense base $13,769,855 (net of IPS in-kind), depreciation $369,832, cash $754,842 → 20.56 days. Exact agreement.

Reconciliation — Nsites vs OEI

21 days Nsites (FY2024-25) vs 80 days published (FY2023-24 report)

Difference: Different fiscal years — not a calculation difference · Likely cause: Comparing different reporting periods

Nsites calculation

Nsites calculation — FY2024-25 audited

Cash (34960A.pdf p. 5): $754,842
Audited total expenses: $16,452,973
Less IPS in-kind contributed services: ($2,683,118)
Less depreciation: ($369,832)
OEI expense base: $13,400,023
Daily expense: $36,712.39
$754,842 / $36,712.39: 20.56 days

Result

21 days

DNMS — below the 30-day covenant floor

OEI published methodology

Published OEI CQ2 — FY2023-24 report

Published Days Cash on Hand: 80 days
Reporting period: FY2023-24
Underlying FY2023-24 inputs: Not traceable

Result

80 days

MS — Meets Standard

Bridge between the two results

Reconciling item	Effect	Why the two calculations differ
Period mismatch	Full 59-day gap	The two figures cover different fiscal years, so no reconciling accounting item exists. Matchbook's cash position deteriorated between the two years; Note 6 of 34960A.pdf confirms the FY2024-25 Days Cash covenant was breached.
Comparable FY2024-25 target	Unavailable	A like-for-like comparison requires the FY2024-25 published CQ2CQ2 — Core Question 2 — Financial HealthThe financial-health section of the OEI performance framework. CQ2 covers near-term measures (current ratio, days cash, enrollment variance, default) and sustainability measures (total margin, debt-to-asset, debt service coverage ratio, cash flow). report, which is logged as a data-room gap.

Conclusion: This is presented as a period mismatch, not a replication failure. The FY2024-25 Nsites result reconciles exactly to the Salesforce/CAPCAP — Charter Accountability Portal / Corrective Action data setThe intermediate financial data set maintained in Salesforce that OEI and its accountants use when producing published ratings. In this platform CAP values are a validation target for comparison only — they are never used as inputs to a Nsites calculation. FY25 pull (20.56 days).

Discrepancy record

Likely causeCovenant breach — judgment item

FY2024-25 days cash falls to 20.56 (rounded 21), below the 30-day bond covenant minimum. Note 6 of 34960A.pdf states the School was not in compliance with the Days Cash on Hand covenant as of June 30, 2025.

Suggested reconciliation: Logged in Exceptions - Review Needed: covenant breach disclosed, no payment default; confirm OEI treatment of the breach for the FY2024-25 CQ2 cycle.

Sequencing proof

1. Source documents ingested and classified.
2. Raw values extracted with page/cell coordinates.
3. OEI mapping and accounting treatment applied.
4. Formula executed — targets not in engine memory.
5. Nsites result locked 18:16:09 UTC.
6. Salesforce/CAP and published CQ2 revealed 18:16:42 UTC.

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