LOUISVILLE, Ky. (WDRB) -- Holy Family Elementary School will close at the end of the 2013-2014 school year. 

The school has an enrollment of 129 and expects to lose nearly $200,000 by the end of the year. 

In a statement released by the Archdiocese, school pastor Fr. Harry Gelthaus cited declining enrollment and funding difficulties as the reasons the school would close. 

"Parish subsidies for the school have increased to the point that we are no longer able to meet our Holy Family parish obligations." Gelthaus said in a statement, "while the quality of the education remains very good, I fear that a continued decline in enrollment will hurt the educational process as well."

The school will work with families to transition kids to new schools. According the Archdiocese, Gelthaus and principal Dr. Beverly McAuliffe will work with parents to transition to other Catholic schools. 

St. Stephen Martyr School is located just 2 miles northwest of Holy Family and the Archdiocese says it can accommodate all students currently enrolled at Holy Family. 

Parents were sent a letter over the weekend notifying them of the closure. The school will have counselors on hand Monday to speak with students and parents. 

You can read a copy of the letter, which was posted to a public facebook page for alumni and friends of the school, in the column on the right.

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