Logan Park High School emailed parents about the matter ‘‘in the interest of transparency’’.
The email, signed by the school's board of trustees, said that in 2024 the school "identified a misappropriation of funds that took place over the 2019-24 financial years".
The total amount involved was $364,884 (GST inclusive).
‘‘The discrepancies were discovered by one of our external professional providers.
‘‘We understand this news may come as a surprise,’’ the email said.
The ODT has approached the school’s co-principals and the school board for comment.
The school’s 2023 annual report said an additional $24,821 of related costs was also incurred by the school.
The report said all the money, including costs had been recovered.
An audit completed by Crowe New Zealand Audit Partnership senior partner Phil Sinclair on May 14 this year noted money was returned to the school last year.
Mr Sinclair also noted the school failed to provide its audited financial statements by May 31 last year as required by the Ministry of Education.
The school’s financial statements for 2023, were only signed off by co-principal Peter Hills and board chairwoman Ronda Tokona this month.
The email to parents this morning said the matter had been ‘‘fully resolved’’.
It said the school wanted to assure parents that ‘‘moving forward, our systems and processes are robust’’.
‘‘We can also confirm that the financial risk to the school as a result of this issue has been eliminated.’’
The board followed professional advice on the process to ensure the matter was handled appropriately, he said.
‘‘A thorough review was conducted to understand the nature of the misappropriation.
‘‘As a result, changes were immediately made in the school's financial processes and practices to improve internal controls and oversight.’’
‘‘We have fully cooperated with the audit process throughout and remain committed to upholding the highest standards of integrity in our school’s financial management.
‘‘The school has remained in a stable and secure financial position throughout this period,’’ he said.
In a statement, the school's board of trustees said it sought legal and accounting advice after the misappropriation was discovered.
"As our priority was to recover the funds in full and as quickly as possible, while ensuring the matter was handled appropriately, the legal advice to us was that this was best pursued through a civil employment route.
"An individual was acting in isolation and they are no longer employed by the school.
"As it’s an employment matter, we won’t be commenting further on personal details."
