In May, the Ministry of Education appointed limited statutory manager Michael Rondel to investigate the primary school after calls from its board of trustees for help with financial management and employment processes.
In a joint release yesterday, Mr Rondel and school board chairman Justin Courtney said the "scoping" phase of the role was complete.
Key findings included in a three-year period starting in 2016, $29,333 in ministry funding for a study support centre was instead used for its international cultural exchange programme, which included pupil travel to Singapore.
The programme also involved pupils attending a semi-regular after-school study programme.
There was also a mix of parent contribution, fundraising and donations funding the trips.
In a 2018 audit, Deloitte identified the redirection of the money "may not have been appropriate".
This resulted in the ministry commissioning Deloitte to review the school's funding in more detail.
It concluded the funding should not have been applied to the exchange programme, the statement said.
It also identified concerns with several of the school's processes and reporting.
The ministry had not required the school to repay any of the money.
When asked about the findings yesterday, Mr Courtney did not want to lay blame.
"For us it's a new board. It's an opportunity to set in place new policies and procedures and put in place some good changes."
The board wanted to keep parents fully informed and confident in the health of its school.
"There are recommendations there. We can't go beyond what we know at this point."
The school was enacting some of the report's recommendations, such as enhancing its financial management and improving board oversight.
It was establishing a new board finance and audit subcommittee and a review of all school funding arrangements and related reporting, among other changes.
Ministry deputy sector enablement and support secretary Katrina Casey said it continued to support Mr Rondel and the board, and would work with them to return to full self-governance.
"We are pleased with the progress that has been made so far. We monitor all interventions in schools closely and will continue to do so in relation to Carisbrook School."
