Three years after avoiding the Trenton Diocese's ax, fiscal shortfalls are closing a Monmouth County Catholic grade school.

Pope John the 23rd in Ocean Township will shut down at the end of the current school year. The Diocese sent letters to parents saying the school would have run $100,000 in the red next year due to enrollment drops.

Only 118 students currently attend the school, which offers classes from pre-K to eighth grade. The Diocese sums it up by simply saying Pope John the 23rd is not financially or academically viable.

Parents who have already paid next year's tuition will be given refunds. The Diocese also says it is offering severance to Pope John the 23rd teachers, as well as assistance finding work at other schools.