Paparoa Street School
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The poari matua of Paparoa Street School manages kura finances and assets in a way that is financially responsible (Education and Training Act 2020, s 127). We ensure that financial decision-making reflects our strategic objectives, focusing on meeting ākonga needs and supporting teaching and learning.
The poari matua ensures that income and expenditure is clearly linked to the business of the kura, and aims to reduce the risk of mistakes, fraud, and theft through a system of 
internal controls. We ensure appropriate segregation of duties for financial tasks, that the poari matua and tumuaki work together to understand and act on key financial information, and that any delegations are authorised, recorded, and monitored.
The poari matua complies with legislation on financial matters, including regularly monitoring and reporting on financial procedures, preparing annual financial statements and sharing these with our kura auditor, and having clear and effective processes for management of public funds. We manage kura assets to ensure these are in good working order, and have plans for maintenance and replacement when required. We maintain kura assets according to our budget and make well-informed financial decisions to best support outcomes for our ākonga.
Poari matua responsibilities
The poari matua of Paparoa Street School is responsible for setting the strategic goals of the kura, and managing kura finances and assets to achieve these goals in a financially responsible way. As part of responsible financial decision-making, the poari matua also:
The poari matua acknowledges that it is responsible and accountable for financial decision-making. Each poari matua member has an individual responsibility to understand kura finance policies and key financial information. The poari matua as a whole is ultimately responsible for the financial management of the kura. Where the poari matua delegates responsibilities to the tumuaki or another kaimahi, this is by poari matua resolution, the delegated person or group is notified in writing, and the poari matua monitors delegated financial tasks. The poari matua reviews delegations annually.
The poari matua may delegate the implementation of financial policies and day-to-day financial management to the tumuaki, and may appoint a financial service provider. The poari matua does not delegate the general power of delegation, or the power to borrow money.
Borrowing
If the poari matua borrows money to support kura operations, it only borrows within the limits set by section 155 of the Education and Training Act 2020, and the conditions specified in regulation 12 of the Crown Entities (Financial Powers) Regulations 2005.
The poari matua ensures that borrowing does not exceed 10% of the operational funding (excluding GST) that the kura receives from the Ministry of Education. The combined principal and interest costs must not exceed the 10% threshold. If the kura seeks to borrow money (including finance leases and programmed maintenance contracts) where the total annual debt servicing would be more than 10% of the operational funding for the year, we make a written application and require joint approval from the Minister of Education and Minister of Finance.
Tumuaki responsibilities
The tumuaki maintains robust financial systems at our kura, understands key financial information about the kura, and reports to the poari matua to ensure the financial position of the kura can be accurately determined. As part of day-to-day financial management of the kura, the tumuaki:
The tumuaki may delegate financial management tasks to other kaimahi, such as a kura administrator. The tumuaki is ultimately responsible for ensuring financial records and reporting are complete and accurate.
Release history: Term 4 2025, Term 3 2025, Term 4 2023, Term 2 2021
