Hato Pētera College has suffered a major decline in student numbers and in its 90th year is down to just one student named Stephanie Pomare.
Despite this, the school will receive approximately $200,000 in state funding to remain open.
The Ministry of Education (MoE) has appointed a commissioner to the school to oversee operations.
The commissioner Lex Hammil says the funds cover operational costs of the school, essentially to keep the lights on.
The school has four teachers and one administrator, however, the salary of teachers does not come out of those funds.
The Catholic Diocese closed the boarding facilities for the school from 2017.
MoE Told Te Kāea that the boarding facilities are operated and funded independently of the school.
MoE do not fund boarding facilities and school operational funding cannot be used to support boarding facilities.
Tthe commissioner says that school will remain open until the diocese and the minister decide what to do next and that any closure would not take place until after the school year is complete.