Both those charges were representative and together related to offending spanning October 2015 to August 2017.
Judge Warren Cathcart further remanded Shuttleworth on bail for sentence on July 17.
A report assessing the suitability of electronically-monitored sentence options, was ordered.
The amount by which she personally benefitted from the offending is yet to be agreed.
However, the amounts police allege for her and Awhina Little are substantially less than for Roberta Little.
Roberta Little and Awhina Little previously pleaded not guilty and are awaiting a jury trial.
The judge further remanded each of them on bail to appear again at another Crown callover on June 7.
Te Kura O Waikaremoana is a bilingual school at Tuai, about 50 kilometres north-west of Wairoa.
It has about 20 students, mostly Maori, and two classes — one mainstream, the other Maori immersion.
In its 2014 report on the school, the Education Review Office identified concerns about the school’s management, performance and compliance, and recommended Ministry of Education intervention.
Issues with finances were identified by a financial support agency employed by the school in July, 2016, to replace one it dismissed.
That agency subsequently also contacted the MoE with its concerns, triggering the ministry to engage Deloitte to conduct a targeted review of school finances between August 2016 and May 2017.
Deloitte’s findings prompted a complaint to police.
The school board was dissolved in September 2017 and a commissioner appointed.
A new principal was appointed early last year.