Hastings Intermediate School principal Andrew Shortcliffe left the school at the end of last term, not long after the Ministry of Education confirmed it was working with the school to clarify its financial situation.
It ended an eight-year tenure at the school for Mr Shortcliffe, during which time he set up student academies, including a leadership academy that was set to take another trip to Fiji this year.
This trip was cancelled, and ministry head of sector enablement and support Kim Shannon said funding for school trips was one of the issues being looked at with the school.
An earlier statement from the ministry said the current involvement was a continuation of ongoing assistance that the ministry's regional finance adviser had been giving Hastings Intermediate School for the past two years.
It's understood the situation surrounds the school's negative working capital, after the school lost about $100,000 in funding when its decile increased from a decile two to three in 2014.
Ms Shannon said the ministry was confident the school could continue to deliver quality learning for its students while the work was under way.
It was understood deputy principal Lesley Smith would become acting principal following Mr Shortcliffe's resignation, she said.
The Hastings Intermediate School board of trustees is maintaining that its focus is on the success and achievement of its pupils.
Board chairperson Jo MacDonald said the board of trustees invited the ministry to come into the school and help provide support and mentoring.
"Moving forward, the board of trustees' focus is on the success and achievement of all 445 of our students, their welfare and that of the staff and community," she said.
Mr Shortcliffe was due to take up a new principal role at Fairfield Intermediate School on October 10, and did not respond to a request for comment.
Fairfield Intermediate board of trustees chairperson Jo Blaikie confirmed Mr Shortcliffe would be starting on that date and said she felt "absolutely comfortable" about his appointment.